BlackRock has launched a global real estate securities capability and is to build a team of about six professionals by year-end.
The head of the new business will be based in New York but London hires are also expected for the team.
The capability is on a platform that BlackRock says is born from its “long-term experience in the real estate investment business and its proven expertise in Fundamental Equity investment”.
BlackRock is already the largest manager in the real estate investment trust sector across a broad range of products, the firm said, and expanding this expertise for dedicated actively managed products is a natural extension of the firm’s robust real estate capabilities, said Jack Chandler, global head of real estate at BlackRock.
Mark Howard-Johnson has been appointed as the global head of real estate securities management.
Howard-Johnson’s most recently worked as CIO at Building & Land Technology, where he was responsible for launching its real estate securities management effort.
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