Pamplona Capital Management, a global private equity firm founded by Alexander Knaster hired two credit traders from Chenavari Credit Partners, a hedge fund based in London, according to Bloomberg Businessweek based on information from people familiar with the matter.

Pamplona Capital’s new executives will trade bonds and derivatives

Yacine Amara and Florian Chapel joined Pamplona Capital Management from Chenavari Credit Partners. The two credit traders will be trading bonds and derivatives within the Pamplona Credit Opportunities Fund, according to the fund’s manager Yves Leysen.

Pamplona Credit Opportunities Fund invests in European corporate and structured credit. The fund also acquires performing and distressed securities. The fund manages $502 million assets as of November 28, 2014.

Amara and Chapel worked closely with Sofiane Gharred, the founding partner of Chenavari Credit Partners during their tenure at firm. Gharred left the firm last year.

Amara was part of the trading and risk quantitative team at Chenavari Credit Partners since 2008. On the other hand, Chapel served as senior credit analyst at the firm since 2009.

Kristie McLaren, the spokeswoman for Chenavari Credit partners declined to comment regarding the decision of Amara and Chapel to leave the firm to join Pamplona Capital Management.

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Pamplona Capital recently acquired Charter Nex Films

Last December, Pamplona Capital Management announced its agreement to acquire Charter Nex Films, a leading independent producer of high-performance polyethylene films.

Martin Schwab, a partner at Pamplona Capital previously commented that Charter Nex is a first-class business and it has significant opportunities to continue organic growth. The private equity firm plans to work with Charter Nex’s management to accelerate its target growth by providing long-term financial and strategic support.

Prior to acquiring Charter Next, Pamplona Capital acquired a majority stake in Intralign Holdings, a healthcare company based in Arizona.

Pamplona Capital Management has $10 billion assets under management (AUM), according to its website. Its private equity team is based in London and New York.

The private equity firm has four funds with more than €6.6 billion of capital commitments. Its fourth private equity fund, Pamplona Capital partners IV was launched in June last year. The fund has €3 billion of committed capital.