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."

BlackRock is also naming Rich Kushel to head an expanded multi-asset strategies team and Tim Webb to oversee global fixed income. Additionally, the company will combine its fundamental active equity and scientific active equity groups under the leadership of Chris Jones, Nigel Bolton, Raffaele Savi and Jeff Shen. Bloomberg Business reported Tuesday that this marks BlackRock's third major organizational shake-up since 2012.