Her team has deployed over US$200 million in 2024, over US$1.8 billion historically and been able to generate a 16 per cent gross internal rate of return in the Asia-Pacific Credit Opportunities II fund
[SINGAPORE] BlackRock’s head of Asia-Pacific private credit Celia Yan is leaving the firm, according to an internal memo seen by Bloomberg.
Hong Kong-based Yan has decided to pursue an an external opportunity, the internal memo showed. She will remain at the firm till the middle of June, ensuring an orderly transition of her responsibilities, which includes overseeing the firm’s integration with HPS Investment Partners, the note showed.
A spokesperson for BlackRock declined to comment.
Maheshwar Nataraj in India, Stephen Allan in Australia, Yik Ley Chan for South-east Asia, Simon Chan for North Asia and Yue Lu, head of execution and portfolio monitoring, will continue to lead their respective teams, the memo showed. In addition, Lu will take a greater leadership role within the firm’s Asia Private Credit Investment Committee during the transition.
BlackRock last year agreed to buy HPS in an all-stock deal valued at roughly US$12 billion, a purchase that will propel the world’s largest asset manager into the highest ranks of private credit. The transaction is expected to be completed in the middle of this year, pending regulatory approval.
Following the expected close of the HPS deal, the combined platform will expand to 22 private market investment professionals with senior investor additions in both Singapore and Sydney, the memo showed.
Yan joined BlackRock in 2020 and was appointed head of Apac private credit in 2023, the memo showed. Her team has deployed over US$200 million in 2024, over US$1.8 billion historically and been able to generate a 16 per cent gross internal rate of return in the Asia-Pacific Credit Opportunities II fund, the note showed. BLOOMBERG
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