CypressTree launching in London

Boston-based loan and high-yield bond manager, CypressTree Investment Management, is opening an office in London.

Securitization News reports that the fund, which has $2bn under management has hired Jim Kean, a former head of fixed-income research at Barclays Bank in London to lead the business.

Kean's task will reportedly be to investigate adding sterling and euro denominated notes to future structures, including cash and synthetic collateralized debt and loan obligations.

Gerald Brant, head of client services and marketing at CypressTree in Boston, says further hires are likely at some point in the future, but there are no immediate plans. "We're starting off with Jim and taking things step by step," he says.