What are the responsibilities and job description for the Managing Director – Business Development, Private Real Estate position at BlackRock?
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
Our Benefits
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
Guidance on AI use for candidates
At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.
BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.
BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.
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
- 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
- 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
- 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
- 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
Our Benefits
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
Guidance on AI use for candidates
At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.
BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.
BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.
Salary : $270,000 - $350,000