NEW YORK CITY—BlackRock, the world's largest asset manager, is combining its real estate and infrastructure platforms into a real assets group, effective Feb. 1, according to published reports. The move is part of a broad restructuring of the company's leadership.

IPE and CIO reported that Jim Barry, currently head of BlackRock's global infrastructure group, will lead the new real assets group. Marcus Sperber will continue in his role as global head of real estate, reporting to Barry.

"A deliberate and consistent approach to reshaping our organization to maximize the full power of BlackRock is something we are deeply committed to, " BlackRock chairman and chief executive Larry Fink and president Rob Kapito wrote in a memo to staff. "Given the uncertainty created by central bank actions around the world, clients are valuing guidance on fixed income markets from a global perspective. We will meet that need and build on the strong investment performance that our fixed income teams are delivering today by creating a truly global franchise under the leadership of widely respected, world-class investors."

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.