
BlackRock adds direct private equity
BlackRock has announced the addition of private equity to its alternative offerings for clients.
The private equity division will be headed by managing directors Nathan Thorne, George Bitar and Mandy Puri. BlackRock Global Private Equity expects to include approximately 20 professionals within the next year.
Thorne, Bitar and Puri will be responsible for the build-out of BlackRock's private equity operations and will report to Matthew Botein, managing director and head of BlackRock Alternative Investors. BlackRock currently offers, among others, hedge funds, real estate and private equity fund-of-funds in its alternatives enterprise.
Prior to joining BlackRock, Thorne, Bitar and Puri began working together in 1990 at Merrill Lynch, where they founded the bank's private equity business in 1994.
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