BlackRock infra debt head departing asset manager

04 March 2019 - 12:00 am UTC

Erik Savi, global head of infrastructure debt within BlackRock Alternative Investors is departing the asset management firm, Inframation has learned.

Since joining BlackRock in 2013, Savi was responsible for building up BlackRock’s Infrastructure debt strategy globally, managing the platform’s investment origination activity and leading the development of infrastructure debt products.

According to an internal memo obtained by Inframation, Savi’s transition is “still weeks away,” but the firm has already embarked on a plan to consolidate its infrastructure debt and real estate debt platform under Bob Karnes. The memo says that this consolidated real assets debt platform will offer a “more integrated investment opportunity for our client.”

Karnes, effective on 1 March, was made the global head of real assets debt.

BlackRock’s platform currently comprises 23 professionals based in New York, London, Paris and Hong Kong, and it’s grown to USD 10bn today. A good portion of their fund inflows is in separate-managed accounts.  Overall, BlackRock’s debt investments are in North America, South America, Europe and Australia. This includes multiple CERPIs in Mexico.

Prior to joining BlackRock, Savi was the managing director of energy originations at WestLB.

Savi did not return multiple messages seeking comment. BlackRock declined comment on the situation.

 

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