BlackRock's Steenberg: Why We Will Grow

Jan. 22, 2013 - PRLog -- BlackRock's Room to Grow

Meet the man charged with building the private equity platform of the world’s largest asset manager: BlackRock. In a wide-ranging interview with Privcap, Russell Steenberg, Managing Director and Global Head of BlackRock Private Equity Partners, discusses BlackRock’s ambitions in the alternative investment space and its strategy for acquisitions, such as the recent purchase of Swiss RE’s fund-of-funds business.

Steenberg also discusses the “natural evolution” of the separate accounts business, why “knowing how to play the cycle” is so important for private equity success, what he looks for in GPs, his admiration for industry pioneers Joseph Rice and John Vogelstein, and why he believes “we have only scratched the surface on private equity” and its potential for growth.

View the full video interview here - http://www.privcap.com/programs/274-blackrock-s-room-to-grow

http://www.youtube.com/watch?v=uQmM07EqGy4



Russell Steenberg
Managing Director, Global Head
BlackRock Private Equity Partners
Mr. Steenberg has more than 28 years of private equity investment experience. Mr. Steenberg is the global head of BlackRock Private Equity Partners, having joined in July 1999 as founder and head of Private Equity Partners. Mr. Steenberg is also a member of BlackRock’s Leadership Committee. Prior to joining BlackRock, he was a co-founder and Managing Director of Fenway Partners, a middle-market buyout group with $1.4 billion of capital under management at the time of his departure. From 1983 until joining Fenway in 1995, Mr. Steenberg was employed by AT&T Investment Management Company, where he was co-head of the AT&T Pension Fund’s $3.6 billion private equity investment portfolio. In that capacity, he participated in sourcing, structuring, executing and monitoring the investments of the AT&T Master Pension Trust in non-publicly traded debt and equity securities and private equity partnerships. While at AT&T and Fenway Partners, Mr. Steenberg made over 100 private equity investments with 36 general partners, committing or investing an aggregate of over $3.6 billion of capital ($337 million to venture capital fund investments, $2.5 billion to other private equity fund investments and $795 million to direct investments). Mr. Steenberg currently serves on the advisory boards of the following funds or GPs: SKM Equity Fund III, Quadrangle Capital Partners, Lindsay Goldberg & Bessemer, Partech International, Clayton Dubilier& Rice VII, Parallel Investment Partners and THLee VI, and is on the Board of Advisors for the Tuck Center for Private Equity and

Entrepreneurship. Mr. Steenberg received an MBA from the Amos Tuck School of Business at Dartmouth College, an MPA from American University and a BA from St. Lawrence University.