European alternative credit firm NorthWall Capital has opened a new office in New York City.

The firm has also appointed John Meuchner as senior business development executive, North America, within its investor partnerships team. Meuchner is the first local hire to be based in the new office, and will be responsible for strengthening and expanding relationships with institutional investors across North America.

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The New York office will be led by Garrett Holmes, managing director on NorthWall’s legal assets investment team, and Rebecca Frisch, an associate on the investor partnerships team, will relocate from London to New York.

The firm said establishing a permanent presence in New York is the “natural next step” in its evolution, with US investors accounting for around half of its €3bn (£2.6bn) in assets under management.

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“We’re excited by the prospect of expanding our firm internationally, and are especially delighted to welcome John to the NorthWall team,” said Fabian Chrobog, chief investment officer at NorthWall.

“Over the past several years, we’ve seen sustained growth in commitments from North American LPs, who now represent a substantial portion of our investor base. Establishing a permanent presence in New York is a clear signal of our long-term commitment to this market.”

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