John Lamb, who leads part of BlackRock's $71 billion real estate business, plans to leave the company in November.
Mr. Lamb, who is head of investment management for the U.S. real estate equity business, is leaving for personal reasons, the company said in a statement about his departure. He has worked at BlackRock for 19 years and completed more than $10 billion of acquisitions across all sectors and life cycles in the U.S., as well as investments in Canada and the U.K., according to his LinkedIn.
Mr. Lamb could not be reached to comment on his departure. The news publication Private Equity Real Estate first reported earlier this week that Mr. Lamb was leaving BlackRock.
"John has been an important contributor to the growth of BlackRock's real estate business. He has informed us that for personal reasons he will be leaving BlackRock later this year after assuring a smooth transition," a BlackRock spokesman told Pensions & Investments. "We are grateful for all he has done and will do for our clients and colleagues."
BlackRock did not comment on who will replace Mr. Lamb.
BlackRock's real estate business, with 400 employees in 34 cities, includes debt and equity, real asset securities, infrastructure debt and equity, infrastructure solutions and listed infrastructure. It invests across strategies and property types, including retail, hotels, logistics parks and multifamily housing.