BlackRock continues secondaries build-out

The world's largest asset manager has added a director and an associate to its growing secondaries team.

BlackRock, the world’s largest asset manager, is bulking up its secondaries team as it eyes its entry into the market.

The $6 trillion manager has hired two investment professionals, both based in New York, according to two sources familiar with the matter.

Jarid Colucci joined as a director at the start of April. Previously he was a director in UBS’s private funds group and before that he spent four years with Goldman Sachs Asset Management’s Vintage secondaries programme.

Joseph Feng has also joined as an associate, the sources said. He previously worked at Pantheon where he spent three years in its secondaries team, according to his LinkedIn profile.

Goldman Sachs managing directors Steve Lessar and Konnin Tam joined BlackRock at the end of July to lead the asset manager’s push into secondaries.

In November the firm hired Veena Isaac, a partner with multi-family office Jasper Ridge Partners, as a managing director. Her background is in directs, co-investments and manager selection, in addition to secondaries. Her prior experience includes Lehman Brothers in capital markets and Goldman Sachs in investment banking.

BlackRock declined to comment.