BlackRock bulks up with energy and debt hires – exclusive

BlackRock Real Assets has appointed Macquarie Capital’s managing director Ed Winter to its energy investment team, Infrastructure Investor has learnt.

Previously responsible for Macquarie’s energy logistics in Europe, Winter will sit alongside fellow managing director Eduard Ruijs, who joined BlackRock last year when it bought the First Reserve funds business. Winter’s departure ends a tenure of nearly 13 years at Macquarie, the last three-and-a-half of which were spent as managing director.

The team is currently raising the third instalment of the Global Energy & Power Infrastructure fund series, reaching a $1.5 billion first close in July. The fund is targeting $3.5 billion and plans to close either at the end of this year or the beginning of next, Mark Florian, head of BlackRock’s global energy and power team, told Infrastructure Investor at the time.

GEPIF III is eyeing assets in the midstream, pipeline and gas storage sectors, Florian added. The fund’s predecessor was generating a 54.9 percent net IRR and a money multiple of 1.65 times as at the end of September last year, according to the New York City Teachers’ Retirement System.

BlackRock has also hired Guillaume Vandewalle as a vice-president in its infrastructure debt team in Europe, joining from a five-year spell as vice-president of infrastructure finance and advisory at Dutch bank ING.

Vandewalle is the second recent appointment to BlackRock’s infrastructure debt unit following the hiring of Lucy Dale to the same position in June from her role as associate director at IFM Investors.

BlackRock’s European infrastructure debt portfolio recently rose to £1.6 billion ($2 billion; €1.8 billion) following its third social housing debt investment in the UK at the end of July. This accounts for just more than half of the £3 billion of debt investments globally. Renewables and transport each comprise about 25 percent of the portfolio.