Managing Director – Business Development, Private Real Estate

About this role

Business Unit Overview:

BlackRock Real Estate Equity currently manages approximately $20 billion invested in direct properties within the United States, Europe and APAC.  The Real Estate Equity business invests across a broad array of investment strategies including core, value-add and opportunistic, through separate accounts and commingled funds. Our extensive experience encompasses all major property types including residential, industrial, retail, and office.

Role Summary:

The Managing Director, Business Development is a senior commercial leader responsible for driving capital formation and long‑term client franchise growth for BlackRock’s Private Real Estate platform. The role owns senior institutional relationships, sets fundraising strategy for flagship and growth vehicles, and is accountable for delivering material capital commitments across commingled funds, SMAs, and bespoke solutions.

As a member of the senior commercial leadership team, the MD acts as a strategic partner to the investment platform, Product Specialists, and Investor Relations—shaping market positioning, prioritizing client opportunities, and ensuring BlackRock’s Private Real Estate strategies are represented credibly and consistently at the highest levels of the institutional investor community.

Core Responsibilities:

Enterprise Capital Formation Leadership

• Set and execute fundraising strategy for major Private Real Estate vehicles, in close partnership with platform leadership

• Own delivery against multi‑year capital raising targets, with accountability for outcomes across market cycles

• Provide senior oversight of fundraising pipelines, investor segmentation, and campaign prioritization

• Serve as senior sponsor for flagship fundraising efforts, including governance, pacing, and escalation management

Senior Client Franchise Ownership

• Own and deepen relationships with the firm’s most strategic institutional clients, consultants, and intermediaries

• Lead CIO‑ and IC‑level engagement on strategy, portfolio construction, and long‑term partnership opportunities

• Act as the primary commercial representative for the Private Real Estate platform in senior client forums

• Drive retention, re‑ups, and expansion of existing client relationships across strategies and vintages

Strategic Market & Product Input

• Shape platform‑level commercial strategy through insights on investor demand, competitive positioning, and allocation trends

• Provide structured feedback to investment leadership on product design, fund structures, and market timing

• Partner with Product Specialists to ensure product narratives, differentiation, and thought leadership resonate with target investors

• Contribute to broader alternatives growth initiatives and cross‑platform client solutions where relevant

Leadership & Internal Influence

• Serve as a senior leader and culture carrier within the Business Development organization

• Mentor and develop senior BD talent, setting standards for client coverage, judgment, and execution excellence

• Influence cross‑functional teams (Product, IR, Legal, Compliance, Operations) to drive efficient, client‑centric outcomes

• Represent Private Real Estate within firm‑wide commercial, governance, and strategic planning forums

Experience & Qualifications

• 15+ years of experience in private real estate capital formation, institutional sales, or senior client coverage

• Proven track record leading large‑scale fundraising efforts and closing complex institutional mandates

• Deep understanding of private real estate strategies, fund structures, and institutional portfolio construction

• Demonstrated ability to operate as a trusted senior partner to investment teams and CIO‑level clients

• Strong commercial judgment, executive presence, and ability to navigate ambiguity and complexity

For New York, NY Only the salary range for this position is USD$270,000.00 - USD$350,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement pl