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BlackRock recruits two GSAM execs to build private equity secondaries business

BlackRock, New York

Steve Lessar and Konnin Tam were named managing directors in BlackRock (BLK) Private Equity Partners.

The positions are new. BlackRock recruited the two Goldman Sachs executives to join its private equity fund of funds, according to an internal memo obtained by Pensions & Investments.

Messrs. Lessar and Tam will be responsible for helping expand BlackRock's offerings in private equity secondaries. They will report to Russ Steenberg, head of BlackRock Private Equity Partners.

Messrs. Lessar and Tam were portfolio managers at Goldman Sachs Asset Management. Their responsibilities have been assumed by GSAM's Alternative Investments & Manager Selection team, according to people familiar with the matter.

BlackRock had $6.317 trillion in assets under management as of March 31.