Alternative investment manager Pacific Alliance continues to hire new staff in Hong Kong, recruiting a team from Deutsche Bank.

Anshumann Woodhull, Kanak Kapur and Anil Gorthy all join the Pacific Alliance distressed debt team as managing directors and they are accompanied by vice-president Stuart Blieschke. They will report to managing director Chris Gradel at Pacific Alliance.

All four men previously worked in the distressed product group at Deutsche Bank. The gaps in that team were filled by internal transfers of senior members in the Deutsche credit group.

Pacific Alliance is continuing a pattern of building its headcount and in June 2009 it appointed Tony Miller as the new president of its Japan arm.

Currently the firm is investing its $1.4 billion Asian Opportunity Fund and there are whispers that Pacific Alliance will be launching a new distressed fund in future.