Aladdin Capital Management, the $13bn (€10.2bn) hedge fund and non-traditional fixed income manager, has hired two principals from a London-based hedge fund to run a new relative value credit fund.

John Brewer and Tim Goodale are leaving Fusion Asset Management to join Aladdin, based in Greenwich, Connecticut. Brewer joins the firm as head of European credit trading while Goodale will serve as head of European sales and marketing. Together they will run Aladdin's European fund business.