By Daniel Lanyon on Thursday 13 October 2016
The Dutch asset management giant has tapped Gabriella Kindert to lead its boutique push into the alternative credit space.
NN IP has been active in alternative credit since the early 1990s and has flagged this asset class as one of the key strategies in its growth ambition, simultaneously meeting growing investor appetite for exposure to the asset class.
The appointment marks another step towards further strengthening the capabilities of the existing team following the internal promotion of Bart Bakx and Lennart van Mierlo to, respectively, head of residential real estate and head of commercial real estate lending, the firm said.
Kindert will be responsible for all illiquid fixed income strategies including residential real estate, corporate private debt, project finance and commercial real estate loans. NN IP’s alternative credit boutique currently has €14bn of assets under management (AUM). The group has a total of nearly €200m AUM in total.
Kindert has over 20 years of international experience in both banking and asset management. She held various managerial positions with financial institutions including former private wealth manager MeesPierson and BNP Paribas IP, the latter as global head of loans.
Since 2011, she has taken on various investment initiatives in the field of private debt, real estate and private equity as well as advisory projects for larger financial Dutch institutions.
Han Rijken, head of global Credit at NN IP says the appointment of Kindert highlights NN firm’s “long term conviction” that alternative credit should be a key part of a portfolio’s strategic asset mix.
“It is also a space where our private debt offering in illiquid alternative fixed income comes into its own. The continued growth in the private lending space marks the ongoing change in the financial landscape where institutional investors partially will take over the risk-taking from banks,” he said.
“For asset managers, in order to service institutional investors, it is essential to build up the necessary expertise. Skilled and experienced teams consisting on both lending and asset management experts are necessary to demonstrate the track record and to identify the right private debt opportunities."
Rijken adds that increasing investment opportunities across alternative credit are presenting unique opportunities for investors given the current low yielding environment for traditional fixed income.
“These assets can be a valuable addition to both matching and return portfolio’s and present a wide range of features that can be customised to the client’s needs, such as different tenors, fixed and floating coupons, bullets or amortising loans and the ability to discuss tailor-made documentation,” he said.
“The development of our alternative credit capabilities will strengthen our ability to add value for our clients. Due to the nature of alternative credit, it is important to make the asset class easily accessible. We are extending our current offering by expanding our capabilities in private debt for institutional investors soon to make the added value broadly available.”