The founding partners are Matteo Dante Perruccio, chief executive, Mark Barker, co-chief investment officer, and Gregory Knott, co-chief investment officer. 

Perruccio is former co- chief executive of Olympia Capital Management and brings over 20 years of industry experience.

Barker and Knott have worked together in the alternative industry since the mid 1980s, first at Momentum Asset Management and more recently as co-chief investment officers at Pioneer Alternative Investments. 

During his career, Jones (pictured) has pioneered the development of the fund of hedge funds area when he was chief executive of Coutts, Gartmore and latterly of Thames River Capital. 

Jones says: 'The Hermes BPK team has particular expertise and an excellent track record in distressed and credit hedge fund strategies - and so should be in a good position to exploit the upside potential of this historical opportunity in the credit markets. This bias, together with a rigorous emphasis on transparency and governance, along with the strong backing of Hermes, should stand the boutique in good stead following the recent upheavals in the hedge fund sector. I look forward to working with Matteo and his team to provide much needed innovative, ground-breaking products that address the needs of third party institutional investors.'

Perruccio adds: 'I am delighted that Glyn with his invaluable experience will be so directly involved in Hermes BPK. The combination of the long-term investment from BTPS as well as the backing of Hermes presents us with a unique opportunity to be thoughtful and deliberate in developing new products and exploiting the investment opportunities in the market. Being able to draw on Glyn's wealth of experience will be an invaluable resource for as we build our third party base.'