Everyone knows the importance of private debt in insurer portfolios these days. But getting private debt exposure remains challenging for companies, given the expertise levels, sourcing network and valuation skills needed for the task.

Goldman Sachs Asset Management is one of the leaders in this field, and the firm's capabilities have been extended even further since the acquisition of NN IP last year.

The NN IP alternative credit team comprises 40 dedicated investment professionals and 25 specialist support functions who range over assets including private structured credit, mortgages & ABS, infrastructure, real estate and corporate loans. It now oversees €25bn in assets under management.

Within that, the infrastructure debt platform alone has €1.9bn under management.

By 2018, NN IP had revised this strategy with a greater focus on sustainability, which involved input from an external consultant, and made the strategic decision to fully focus on a sustainable infrastructure debt strategy.

This then led to the launch of the NN (L) European Sustainable Infrastructure Debt fund, which aims to make socially and environmentally responsible investments in the real economy, while generating stable financial returns.

The team has a clear focus on quality assets and seeks to avoid significant revenue, price and/or volume risk, jurisdictions with major legal, political and/or regulatory risk.

It also aims to make a meaningful contribution to the UN Sustainable Development Goals, by focusing on: Affordable and Clean Energy (SDG7); Decent Work and Economic Growth (SDG8); Industry, Innovation and Infrastructure (SDG9); Climate Action (SDG13); and Partnerships for the Goals (SDG17).

Since 1992, the strategy has witnessed no credit losses. Given the heightened focus on sustainable investment and increased scrutiny from regulators, NN IP team's, now integrated in GSAM, lead the sector put it in good stead to serve insurers and win it the year's private debt award.