The UK fund group has boosted its asset management capabilities with a senior hire from Deutsche.

Pacific Investments has launched Pacific Asset Management, a new multi-asset business under the leadership of Matthew Lamb from Deutsche Asset Management.

Lamb most recently served as global head of liquid alternatives at Deutsche Asset Management, which he joined in November last year. Previously, he worked at GAM as head of institutional and wholesale distribution for the UK and Middle East and global head of multi-asset sales.

London-based PAM will become the core focus of Pacific’s asset management businesses and will sit alongside the group’s existing global private equity and real estate divisions, the group said in a statement, adding that further senior hires from the asset management sector will be made over the coming months.

Pacific has several asset management businesses over the last 20 years, including Liontrust, Thames River Capital, River & Mercantile, Nevsky Capital and Europa Capital. Together, these firms manage over $20 billion of assets.

“We have enjoyed considerable success in the asset management industry over the last two decades. We have known Matt for many years and are very excited about him joining us, together with the fund management teams that are shortly to be announced,” said Sir John Beckwith, founder and chairman of Pacific.