US - BlackRock has appointed Jack Chandler as global head of real estate.
Chandler will oversee BlackRock's global real estate capabilities which extend across the capital markets and include both equity and debt investment products totalling $13bn in assets under management.
He most recently served as global chief investment officer and executive chairman at LaSalle Investment Management Asia. In his new role he will report to head of BlackRock Alternative Investors (BAI) Matthew Botein.
At year-end, BAI represented $109.7bn of AUM and included the firm's hedge funds, hedge funds of funds, real estate, private equity funds of funds, opportunistic investment vehicles, commodities and currencies.
"We're delighted to be bringing an executive of Jack's calibre to BlackRock," said Botein. "As we work to round-out the alternative offerings within BAI, real estate will be a central component of our product menu. Jack's depth of experience and deep understanding of the global real estate markets will significantly accelerate our ability to offer clients best-in-class investment products."
Chandler succeeds senior managing director Paul Audet, who assumed interim leadership for BlackRock's real estate business in 2008. Audet will take other executive responsibilities within BlackRock where he has previously held the roles of head of cash management and chief financial officer.
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