BlackRock builds infrastructure debt team

BlackRock has hired three senior executives from private equity giant Blackstone as part of a plan to launch its own infrastructure debt platform.

Philippe Benaroya, Chris Wrenn and Gilles Lengaigne have joined the platform from Blackstone’s private debt business, with the aim of building a new infrastructure debt business focusing on Germany, France, Benelux and the UK.

The team will also work on secondary loans from banks and refinancing of existing transactions. The new unit will focus initially on separate mandates from existing BlackRock clients, rather than funds.

Benaroya and Wrenn were appointed co-heads of European infrastructure debt.

Lengaigne is appointed director. He previously worked for Harbourmaster, which Blackstone’s GSO debt division acquired last year.

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