Private credit has been all the rage amongst investors amid non-bank lending growth. BlackRock is seeking to further tap demand with a hire in Singapore for the asset class.
BlackRock has appointed Yik Ley Chan to lead the firm’s private credit efforts in Southeast Asia, according to a statement, effective July 2024 and based in Singapore.
Chan has 16 years of experience, including 13 years in structuring private credit and financing solutions. He was most recently Asia head of private credit at Jefferies and was previously a senior structurer at Credit Suisse covering Southeast Asia and frontier markets.
Asset Class in Demand
Globally, BlackRock’s private debt platform manages $85 billion with a team of over 210 investment professionals across 18 cities, as of December 2023. Within Asia, the US asset manager invests in opportunities throughout Australasia, South Korea, Japan, Greater China, India and Southeast Asia.
«Client demand for private markets investments has increased dramatically – a trend we believe is here to stay,» said Deborah Ho, country head of Singapore and head of Southeast Asia.
