Babson Capital Europe, the credit specialist investment firm, has hired high yield specialist Kam Tugnait reported Creditflux this week.PARA_BREAK_SENTINEL_9f8e7d6c

Babson Capital Europe, the credit specialist investment firm, has hired high yield specialist Kam Tugnait reported Creditflux this week. Formerly head of high yield at Gartmore, where he ran the Gartmore High Yield Corporate Bond Fund, Tugnait brings over 20 years’ experience to the table having also worked for Standard Bank and United Bank of Kuwait. Tugnait will now take responsibility for co-managing Babson’s European high yield fund and will report to Zak Summerscale, head of loans and high yield at BCE. The appointment comes at a time when Babson are thinking of launching a further UCITS fund focusing on European high yield. In recent times the firm has launched a global senior secured bond UCITS and been appointed investment manager to another UCITS. Babson Capital Europe was established in 2000 and currently manages EUR6.6billion in AUM (as of December 31, 2010). The firm is a subsidiary of US fixed income manager, Babson Capital Management LLC (itself part of MassMutual Financial Group), which manages approximately USD134.5billion.