The appointment is an example of how private credit continues to hold an important place in the wealth management toolbox.

BlackRock, the world’s largest asset manager, with more than $10.5 trillion of assets under management, yesterday named Yik Ley Chan to lead its private credit efforts in Southeast Asia. 

Chan, whose appointment takes effect in July 2024, will be based in Singapore.

With 16 years’ experience in financial services, Chan has spent more than 13 years of them in structuring private credit and financing solutions. He was most recently Asia head of private credit at Jefferies, where he oversaw markets in Southeast Asia including Singapore, Malaysia, Vietnam, Indonesia and the Philippines. 

Prior to this, Chan was a senior structurer for Credit Suisse, covering Southeast Asia and frontier markets.

BlackRock’s global private debt platform manages $85 billion across the asset class. Its Asia-Pacific private credit platform invests in opportunities through Australasia, South Korea, Japan, Greater China, India, and Southeast Asia.