Schroders appoints head of private debt

Global investment manager Schroders has appointed Nicole Kidd in the newly-created role as head of private debt for Australia.

The role, which would commence from 1 September, would focus on building and developing Schroders’ private debt capabilities in Australia.

Kidd had 25 years of investment banking and asset management experience, and joined from RBC where she was most recently managing director and head of corporate banking Australia and institutional client management Asia-Pacific.

The Australian private debt team would sit within the broader fixed income and multi-asset team, reporting to Simon Doyle, head of fixed income and multi-asset.

Chris Durack, Schroders Australia chief executive, said a key strategic priority for the firm was to continually develop and evolve its Australian investment teams and capabilities.

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“The developing fixed income landscape provides us with an opportunity to invest in our private debt capability, and over time we aim to build solutions to provide our clients with greater access to these attractive markets,” Durack said.

“The bank debt market in Australia is becoming increasing disintermediated, providing opportunity for institutional investors to gain access to favourable risk-adjusted returns.

“This is a result of both increasing bank regulation – where traditional bank returns are more difficult to achieve with higher capital imposts, and desire for banks to hold lower concentrations of single asset exposures on their balance sheets than they previously were, meaning the door is open for so-called ‘non-traditional’ lenders.”