Avenue Capital hires BlackRock exec amid private credit push in Asia
Avenue Capital has appointed former BlackRock executive Stephanie Boenawan to explore private credit investment opportunities across Southeast Asia.
Boenawan was most recently director and chief operating officer of private credit in BlackRock’s APAC division. In this role, she specialised in direct lending and distressed debt.
The $12.5bn (£9.97bn) investment manager confirmed the hiring but declined to comment any further.
Last year, Avenue Capital announced plans to launch a new private credit fund to investments which have an environmental impact.
It joins a slew of fund managers tapping in to the private credit space as the sector is set for rapid growth, particularly in the Asian markets.
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Earlier this year, Goldman Sachs inked a $1bn partnership with Abu Dhabi’s sovereign wealth fund Mubadala Investment Company to invest in private credit across the Asia Pacific region; while UBS appointed Ben Sung as head of its corporate book for Southeast Asia, as it plans to grow its presence in the Asian private credit market.
And just a few days ago, French alternative asset manager Tikehau Capital partnered with Singapore-based brokerage firm UOB-Kay Hian to launch its debut private credit fund in Asia.
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