NN IP shuffles credit team, pushes into new strategies

New appointment Gabriella Kindert will lead the insurance firm’s expansion of its illiquid fixed income effort.

The asset manager of Dutch insurance firm NN Group has continued the expansion of its private debt offerings with the appointment of ex-BNP Paribas global loans chief Gabriella Kindert.

Kindert will take charge of NN Investment Partners’ Alternative Credit Boutique team, which oversees the firm’s illiquid fixed income strategies. These strategies include investments in private debt, residential and commercial real estate and project financings, but Kindert’s appointment is part of the firm’s push into new lending products. A representative from the firm was not able to provide clarity on these additional services before press time.

It is part of a wider shuffle in the firm’s credit team. Her appointment follows the recent promotions of Bart Bakx to head of residential real estate and Lennart van Mierlo to head of commercial real estate lending.

Kindert previously served as a partner at Investfair, a Dutch investment advisory firm, following a stint as managing partner at Kerten Capital. Between 2007 and 2011 she was global head of loans at BNP Paribas.

Hann Rijken, head of global credit at NN IP, said: “Alternative credit is 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.”

NN IP’s alternative credit team has €14 billion of assets under management. Earlier this year, it launched an emerging market loans fund in partnership with the Dutch development bank, Financierings-Maatschappij voor Ontwikkelingslanden. According to PDI research, it is aiming to raise €750 million in capital commitments.