BlackRock appoints head of alternatives for North Asia

Lee will be based in Seoul and take responsibility for strengthening BlackRock's alternative investment platform in North Asia, as well as developing new regional investment opportunities for global clients.

This newly created role complements the hires of Joseph Pacini as head of the Alternative Investment Strategy Group for Asia Pacific and Andrew Landman as head of alternatives for Australia in March and December last year, respectively. Lee will report to Pacini.

Lee has more than 15 years of industry experience, most recently as head of the Fortress Investment Group in Seoul. He was previously at Darby Private Equity, a subsidiary of Franklin Templeton Investments.

"As alternatives vie to become part of the new mainstream in Asia, we are focused on bringing investment opportunities outside the region to our Asian clients as well as focusing on emerging opportunities in Asia for our global clients," said Pacini in statement.

As of December, BlackRock manages approximately US$113 billion in alternative assets globally, of which over 20% comes from the Asia Pacific region.

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