BlackRock has appointed two global co-heads of real estate, who will be based in London.
The world’s largest asset manager has promoted Paul Tebbit and Thomas Mueller-Borja to the roles, according to PERE who first reported the appointments.
They will be the first dedicated heads of real estate at BlackRock since Marcus Sperber left in 2019.
Tebbit and Mueller-Borja will report to Brent Patry, global head of equity private markets. They will take over from Anne Valentine Andrews, who jointly ran infrastructure and real estate, and departed last month.
Tebbit previously held the role of global chief investment officer of core real estate at BlackRock, while Mueller-Borja was global chief investment officer of the global value-add real estate platform.
BlackRock’s real estate business has $28bn (£22.2bn) of assets under management, as of the end of last year.