West End Capital Management, a Bermuda-based fixed income arbitrage hedge fund group backed by Warren Buffett, has expanded its team with the hires of Brad Lord and David Knott.

Lord and Knott, who replace Daniel Donovan and Richard Grindon, will report to Mark Byrne, chief executive of West End Capital and manager of the $625m (€682m) flagship fund, Value Capital. Donovan and Grindon left during the summer to set up on their own.