Portfolio Manager

Chenavari Toro Income Fund Limited relies on the expertise of the Investment Manager's 100+ professionals. This team’s research capabilities combined with our leadership's expertise creates a compelling investment opportunity. Combined with knowledgeable oversight from our Board of Directors, Toro aims to be best in class across both investments management and corporate governance standards

Board of Directors

Fred Hervouet, non-executive chairman

A resident of Guernsey, Fred Hervouet has more than 20 years of experience in Hedge Funds and Capital Markets roles.

In the last 20 years, Fred has worked in different aspects of the Financial Markets and Asset Management Industry. His experience includes Derivatives Markets, Structured Finance, Structured Products and Hedge Funds, Trading and Risk Management. Until end 2013, Fred was Managing Director and Head of Commodity Derivatives Asia for BNP Paribas including Trading, Structuring and Sales. Prior to BNP Paribas he also worked for two multi-billion multi- strategy hedge funds.

Fred has worked in Singapore, Switzerland, United Kingdom and France. Most recently, he was a member of BNP Paribas Commodity Group Executive Committee and BNP Paribas Credit Executive Committees on Structured Finance projects (structured debt and Trade Finance).  

Fred now acts as a full time dedicated Non-Executive Director on both Listed and non-Listed Companies.

Fred graduated from the University of Paris Dauphine, France achieving a Masters in Financial Markets, Commodity Markets and Risk Management and an MSc in Applied Mathematics and International Finance.


John Whittle, non-executive director
John Whittle has significant experience of the loan market and is a non-executive director of International Public Partnerships Ltd (as audit committee chair), Starwood European Real Estate Finance LTD (as audit committee chair), India Capital Growth Fund Ltd, Globalworth Real Estate Investments Ltd (as audit committee chair) and Advance Frontier Markets Fund Ltd and previously at Aurora Russia Ltd. Mr. Whittle worked as a chartered accountant at PriceWaterhouseCoopers and holds an IoD Diploma in Company Direction. Prior to acting as a non-executive director, Mr. Whittle was finance director at Close Fund Services, a large independent fund administrator. He has also held positions at John Lewis and as CFO of Windsmoor (London LSE).


Roberto Silvotti, non-independent non-executive director
Roberto Silvotti has over 30 years’ experience in both academic and senior credit market positions, and was formerly the Chief Risk Officer of the Chenavari Financial Group.

He started his career as Professor of Mathematics in institutions such as Columbia University (New York), The Institute for Advanced Study (Princeton, New Jersey) and Scuola Normale Superiore (Pisa, Italy). Mr. Silvotti then moved to the capital markets industry.

Over the past twenty years, he has held senior positions in various investment banks, including risk manager at Goldman Sachs, head of credit derivatives risk management for Banca Intesa, global head of structured credit trading at Calyon, global head of derivatives structuring and new product development at Dresdner Kleinwort. Prior to his role as Chief Risk Officer of the Chenavari Financial Group he was co-head of structured credit and head of index strategy at Royal Bank of Scotland.