MOVES-BlackRock appoints Stephen Allan as private credit head of Australasia

SINGAPORE, Dec 18 (Reuters) - U.S. investment company BlackRock on Monday said it named Stephen Allan as its private credit head of Australasia, according to a statement.

Allan, who has nearly two decades of experience in credit deal origination and sourcing, is joining BlackRock from Nomura, it said.

Based in Sydney, Allan will take on responsibility for leading the origination and sourcing of private credit investments in Australia and New Zealand, BlackRock said.

"Institutional investors and superannuation funds in Australia are looking for ways to add greater diversification to their portfolios – against a macro backdrop of rising rates and inflation," said Andrew Landman, BlackRock's head of Australasia.

BlackRock's global private debt platform manages $84 billion across the asset class, it added.

(Reporting by Yantoultra Ngui; editing by Jason Neely)