M&A said private markets investment is “central” to its growth ambitions in asset management.

M&G Investments, which has a £74 billion ($93.9 billion) international private markets arm, has named Emmanuel Deblanc as the new chief investment officer in charge of this business. William Nicoll previously held the role, a spokesperson told this news service.

Reporting to Joseph Pinto, chief executive of M&G Investments, Deblanc will join on 14 March and will be based in London, M&G said in a statement yesterday. 

Deblanc has more than 25 years’ experience, most recently at Allianz Global Investors where he led and developed its private markets capability played a central role building its private debt franchise. Before this, Deblanc spent nine years at BNP Paribas, where he was co-head of the French firm’s debt advisory and financing team.

M&A said private markets investment is “central” to its growth ambitions in asset management. The field – covering areas such as private equity, credit, forms of property and infrastructure – has expanded since before the 2008 financial crash. More than a decade of ultra-low interest rates, a secular shift from listings on the stock market, and a desire for yield, have helped propel the change. 

The firm said private markets drove half the global asset managers’ industry revenues in 2022, M&G said, citing data from the Boston Consulting Group Global Asset Management Benchmarking Survey 2023 report.