BlackRock, Inc. (NYSE:BLK) today announced that Jack Chandler will join the Company as Global Head of Real Estate. In this capacity, Mr. Chandler will oversee BlackRock’s global real estate capabilities which extend across the capital market structure and include both equity and debt investment products totaling approximately $13 billion in assets under management. Clients served include public, corporate and union pension plans, as well as insurance companies, foundations, endowments, private and high net worth investors. Mr. Chandler will report to Matthew Botein, Head of BlackRock Alternative Investors (“BAI”). At year-end, BAI represented $109.7 billion 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 caliber to BlackRock,” commented Mr. 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.” Most recently, Mr. Chandler served as Global Chief Investment Officer and Executive Chairman, Asia for LaSalle Investment Management. He first joined LaSalle in 1986 and after 14 years with the company in the United States, Mr. Chandler relocated to Singapore in 2000 to launch LaSalle’s Asia Pacific business. From a single, opportunistic closed end fund launched in 2001, that business now incorporates over $12 billion of investments in direct and listed real estate. He earned a BSc in Industrial Engineering (Summa Cum Laude) from the University of Massachusetts in 1981 and an MBA from Harvard Graduate School of Business in 1986. Mr. Chandler succeeds Paul Audet, Senior Managing Director, who assumed interim leadership for BlackRock’s Real Estate business in 2008. Mr. Audet will transition to other executive responsibilities within BlackRock where he previously held the roles of Head of Cash Management, and before that, Chief Financial Officer.
"I would like to thank Paul for his many contributions as leader of the Real Estate business -- a role he admirably performed through the depths of the credit crisis and real estate markets broadly," said Mr. Botein. "Paul has made notable improvements to our investment processes and risk management systems, supported our clients and provided great leadership to our team. Now, Jack will take us forward."About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRock’s AUM was $3.561 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares ® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions ®. Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com.