Spanish boutique Arcano Asset Management is set to launch a credit fund for recently-recruited portfolio manager Emilio Hunolt (pictured) and Alessandro Pellegrino.

The group bolstered its credit team last summer with the hire of former Morgan Stanley manager Hunolt, who is set to oversee the new credit fund.

This is while Pellegrino joined as an investment officer and a portfolio manager.

The two joined the Arcano credit team under Manuel Mendivil, who leads the team and is a partner at the Madrid-headquartered boutique.

Hunolt joined from Morgan Stanley where he was head of European Loan Trading and co-head of high yield trading in the London office.

Meanwhile, Pellegrino arrived from Anaxis Asset Management in Paris where he was a fund manager, overseeing the European high yield and global short duration strategies.

Speaking about the new hires, Mendivil said: ‘The arrival of Emilio represents a qualitative leap in the strategy and growth of the Arcano Credit area, where we already have a solid team of top level professionals.’

Arcano was founded in 2003 as a financial advisory and asset management company. It currently has a range of four funds.