The head of direct lending at DWS, Marcus Herbig, has left the company.

Herbig had been at the firm since 2001, starting initially as a manager for collateralised debt obligations.

The departure of Herbig, first reported on by Citywire, comes just as the asset manager is building out its private credit business.

Last year, it hired Dan Robinson from Man Group as its EMEA head of alternative credit. It had followed the earlier appointment of Blackstone’s Paul Kelly as global head of its alternatives division.

In March, the group hired Roscoe Roman as a senior investment manager for alternative credit.

DWS has €111bn (£95bn) in assets under management in its alternatives arm, with 60 per cent of that in real estate.

In a recent letter to investors, Kelly highlighted the appeal of private credit, with unlevered senior loans offering the most attractive opportunity in the current market environment.

According to Citywire, DWS chief executive Stefan Hoops wants to expand the group’s alternatives area with an annual growth rate of more than 10 per cent.

Read more: DWS hires Man Group veteran to launch CLO business

Read more: DWS boosts alternative credit team with London hire