BlackRock appoints Jefferies head of Asia private credit
BlackRock has boosted its Southeast Asia private credit investments team with the appointment of Jefferies head of Asia private credit Yik Ley Chan (pictured).
Chan will be based in Singapore for BlackRock from July 2024. In his role at Jefferies, Chan has been overseeing markets in Singapore, Malaysia, Vietnam, Indonesia and the Philippines.
He has 16 years’ experience in financial services, specialising in structuring private credit and financial institutions.
“Client demand for private markets investments has increased dramatically – a trend we believe is here to stay,” said BlackRock country head of Singapore and head of Southeast Asia Deborah Ho. “We look forward to drawing on Yik Ley’s experience to create attractive opportunities for our clients.”
Read more: BlackRock names new private credit lead for India
BlackRock’s Asia Pacific (APAC) credit platform invests across Australasia, South Korea, Japan, Greater China, India, and Southeast Asia.
The bulk of its private debt investments in the region are currently led by Australia, Singapore and Hong Kong.
The New York-based asset manager oversees around $9tn (£7tn) in assets globally. Its global private debt platform is responsible for around $85bn.
“Southeast Asia is an exciting region offering promising opportunities for private credit, as corporates look for ways to finance transformation beyond traditional avenues,” said BlackRock head of APAC private credit Celia Yan.
“Yik Ley’s wealth of investment experience and local insights will be of immense value to our clients, while strengthening our investment capabilities through developed and emerging markets in APAC.”
Read more: BlackRock appoints new head of Australasia private credit
In March, Avenue Capital appointed former BlackRock executive Stephanie Boenawan to explore private credit investment opportunities across Southeast Asia.
Boenawan had been director and chief operating officer of private credit in BlackRock’s APAC division, specialising in direct lending and distressed debt.
Yesterday, BlackRock announced the expansion of its European private debt team with the hire of Camille de Lamotte as co-head of private debt origination in France and head of origination in Spain.
Read more: BlackRock sees opportunity for private credit in asset-based financing
