Greg Lapham, head of investments in Asia-Pacific for BlackRock Real Estate, has stepped down from the leadership role.
John Saunders, head of BlackRock Asia Pacific Real Estate, confirmed Lapham’s departure to pursue other opportunities.
“We thank Greg for his many contributions over the last ten years and wish him well in his future endeavours,” he told PERE in an email.
Lapham’s departure ends a decade-long association with the firm, including a spell at the Asia and Europe-focused private equity real estate business MGPA, which was acquired by BlackRock in 2013. Lapham joined MGPA in 2009 and served as its chief financial officer for Asia. After the MGPA-takeover, he was responsible for overseeing portfolio management and capital transactions for the BlackRock’s real estate business in the region.
PERE understands Lapham will officially leave the firm at the end of September. Hamish MacDonald, BlackRock’s head of Australia real estate, is expanding his regional remit to take on Lapham’s role.
BlackRock’s Asia real estate business currently includes a circa $500 million pan-Asia opportunity fund. BlackRock Asia Property Fund IV, the firm’s first highest-returning real estate fund in Asia since the MGPA acquisition, closed in September 2017, according to PERE’s previous reports.
Lapham’s departure has not led to any key man implication for the fund, according to a source familiar with the situation.