BlackRock announces head of alternative investments
BlackRock has hired Joseph Pacini from J.P. Morgan Private Bank to be the head of BlackRock Alternative Investors Strategy Group, Asia Pacific ex-Japan.
Pacini is based in Hong Kong and will be responsible for developing BlackRock's alternatives business across the region. Prior to the appointment, Pacini headed J.P. Morgan Private Bank's Asia alternative investments division and was a member of the company's due diligence team. Pacini also worked at Bain Capital in London before joining J.P. Morgan in 2003.
Mark McCombe, BlackRock's Asia Pacific chairman said many investors are realizing that returns from conventional asset classes alone won't be enough to fund their future liabilities. "We believe investors looking to build dynamic and diversified portfolios should consider alternatives."
Rick Arney, head of hedge funds for BAI Strategy Group, added that Pacini's track record with alternative investment teams in Asia will help the group to meet future demand.
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