Allan, who is based in Sydney, is slated to begin at Elham at the end of September, people familiar with the matter said. The appointment aligns with Elham's effort to source Australian private credit opportunities as it expands its Asia Pacific focus from its Singapore base.
Allan previously led Australasian private credit at BlackRock Inc. and exited the firm in June, a timeline earlier reported by Bloomberg. He declined to comment.
This step coincides with Elham, headquartered in Singapore and acting as Hillhouse Investment Management Ltd.'s private credit platform, preparing a second fund focused on Asia Pacific. The firm sought to raise in excess of $600 million, after launching its first private credit fund last year. A representative for Elham did not immediately provide a comment.
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If Elham hits its fundraising goal and Allan gets to work quickly, more private credit capital could be lining up for Australian borrowers. For everyday investors, that can translate into a busier deal pipeline in the region and another data point on how fast private credit is scaling in Asia Pacific.
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