BlackRock has appointed Jack Chandler as global head of real estate in its alternative investors division.
Chandler will be responsible for both the equity and debt investment products, which have about US$13 billion in total assets under management (AUM).
He joins from LaSalle Investment Management, where he was global chief investment officer and executive chairman Asia.
Chandler succeeds BlackRock senior managing director Paul Audet, who assumed interim leadership for BlackRock's real estate business in 2008.
Audet will transfer to other executive responsibilities within BlackRock where he previously held the roles of head of cash management, and before that, chief financial officer.
"We're delighted to be bringing an executive of Jack's calibre to BlackRock," BlackRock head of alternative investors Matthew Botein said. "As we work to round-out the alternative offerings within BlackRock alternative investors, real estate will be a central component of our product menu," he said.
The division serves public, corporate and union pension plans, as well as insurance companies, foundations, endowments, private and high net worth investors, and has about US$110 billion in AUM.
