BlackRock appoints new head of Australasia private credit
BlackRock has named Stephen Allen as its new head of Australasia private credit at the company’s global private debt business.
Allen was previously responsible for the origination, structuring and syndication of illiquid credit opportunities in Australia and New Zealand at Nomura.
Before that, he worked at Lloyds International in Sydney, where he specialised in the transaction restructuring of distressed corporate, real estate and leveraged finance accounts.
In his new role at BlackRock, Allen will be based in Sydney, where he will originate and source private credit investments across Australia and New Zealand.
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“Stephen’s extensive market knowledge complements our wealth of local expertise throughout Australia, China, India, New Zealand, and Southeast Asia – to the benefits of clients,” said Celia Yan, head of APAC private credit at BlackRock.
Yan added that private credit continues to gain a significant share of client portfolios due to its attractive risk-adjusted returns and diversification benefits throughout economic cycles.
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“Institutional investors and superannuation funds in Australia are looking for ways to add greater diversification to their portfolios – against a macro backdrop of rising rates and inflation,” added Andrew Landman, head of Australasia at BlackRock.
“Clients will benefit from Stephen’s solid track record in generating opportunities throughout private credit markets in Australia and New Zealand, and we look forward to working closely with him.”
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