BlackRock has announced the appointment of Stephen Allan as head of Australasia private credit.
Mr Allan has nearly 20 years of experience in credit deal origination and sourcing and joins BlackRock from Nomura, where he was responsible for the origination, structuring, and syndication of illiquid credit opportunities in Australia and New Zealand.
Prior to Nomura, Mr Allan worked at Lloyds International in Sydney, where he was involved in transaction restructuring of distressed corporate, real estate and leveraged finance accounts in the firm’s business support unit.
In his new role at BlackRock, Mr Allan will be responsible for leading the origination and sourcing of private credit investments in Australia and New Zealand.
The global asset manager said that Mr Allan will also play an active role in its investment process, from deal structuring and execution through to monitoring performance.
“Private credit continues to gain a significant share of client portfolios, thanks to attractive risk-adjusted returns and diversification benefits throughout economic cycles,” said Celia Yan, head of APAC private credit at BlackRock.
“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. His expertise helps advance our ability to provide customised and diversified private debt solutions that meet specific client needs.”
Andrew Landman, head of Australasia at BlackRock, noted that Australian institutional investors and superannuation funds are looking for ways to add greater diversification to their portfolios against a backdrop of rising rates and inflation.
“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,” Mr Landman added.
BlackRock’s global private debt platform manages a total of US$84 billion. The firm’s global private debt team comprises more than 200 investment professionals in over 18 cities globally and holds more than 22 years’ cycle-tested investment experience.
