McGuinness was co-chief operating officer of Goldman Sachs Asset Management until early 2011. From 2006- 2008 he was co-head of the US investment bank’s Special Situations Group, its proprietary distressed debt arm.
Mr McGuinness will be a senior managing director at SVP, in charge of business development and report to Victor Khosla, the hedge fund’s founder.
Distressed debt hedge funds and private equity groups – which specialise in acquiring the loans and bonds of struggling companies at a discount – have expanded heavily into Europe in particular over the past two years.
US hedge funds like Baupost and Centerbridge have opened offices in London for the first time, while others have launched new hedge funds to take advantage of the European turmoil.