BlackRock Alternative Investors is making several changes to the roles of its senior executives.
Pensions & Investments reported that Andrew Stewart will join BlackRock in June as a managing director and co-head of BAI, while Matthew Botein will be promoted to the co-head of the unit.
In his new position, Stewart will be responsible for overseeing the operations and strategic development of the alternatives unit, which includes hedge fund, hedge funds of funds, real estate and private equity funds of funds. Stewart was previously the managing director and head of liquid alternatives at Credit Suisse Asset Management.
Botein, who is BAI’s current head and managing director, will be promoted to the unit’s chief investment officer. In his new role, he will be responsible solely for the investment performance oversight of the division's investment teams and strategies.
New York-based BlackRock managed a total of $3.279 trillion as of Dec. 31.