Michael Lawton joined BlackRock as a managing director in the firm's New York-based private capital markets unit on Monday.
The position is new, spokeswoman Melissa Garville confirmed in an email.
Mr. Lawton is responsible for originating private and illiquid investments for BlackRock's alternative investors unit as well as for other strategies on the firm's investment platform, said managing directors Brent Patry, global head of BlackRock private capital markets business, and Jim Parry, CIO of BlackRock alternative investors division, in an internal memo obtained Thursday by Pensions & Investments.
"Mike will spearhead efforts to expand and enhance our sources for private transactions in the U.S. by working closely with all of our investment teams to continue to build the BlackRock brand with sourcing channels," said Messrs. Patry and Barry in their note to the firm's employees.
Mr. Lawton also will be involved in other ongoing activities in the private capital markets business, including co-investments, they noted.
Mr. Lawton was a managing director in UBS's leveraged capital markets unit in New York where he "originated, underwrote and distributed transactions totaling over $25 billion at all levels of the capital structure," BlackRock's internal memo said.
In an email, UBS spokeswoman Alison Keunen declined to comment on Mr. Lawton's replacement at the firm.
BlackRock managed $6.47 trillion as of March 31.
