The multi-manager arm of Perpetual Investments has found its new head of fixed income and credit portfolios in FuturePlus’ investment team.

Daniel Park, an investment director at FuturePlus, has signed with Perpetual’s multi-manager division to focus on its approximate $500 million in credit and fixed income investments, confirmed Damien Webb, head of the multi-manager business.

Park will join Webb’s team, which is mandated to manage the $2.8 billion of assets invested through Perpetual Private Wealth, the company’s high-net-worth advisory business, at the end of August.

His primary responsibility will be portfolio construction and research for traditional and alternative credit and fixed income strategies, Webb said. But Park will also support other strategies in the overall portfolio, subject to his “skills and interest”.

FuturePlus had instituted a search to replace Park, Michael Block, general manager – investments, said.