Former BlackRock Exec Anne Valentine Andrews to Head Private Markets for Manulife IM

Former BlackRock real estate boss Anne Valentine Andrews will join Manulife Investment Management next month as global head of private markets, the Canadian firm announced this week.

Valentine Andrews will lead all investment teams and direct the overall strategy, business development and growth of Manulife IM’s private markets business after her appointment becomes effective on 4 March, the firm said in a release.

Based in New York, Valentine Andrews will report to Manulife IM president and CEO Paul Lorentz. She left BlackRock earlier this year after nearly a decade as global head of infrastructure and real estate at the world’s largest asset manager.

“We are excited to welcome Anne to our firm given her expertise and deep alternatives background,” Lorentz said. “We are confident that her leadership will accelerate the growth of our private markets platform and deliver more for our clients.”

Driving Innovation

Valentine Andrews and her team will work with Manulife IM’s global product group and business leads to drive private-market product innovation across the institutional, retail and retirement channels, the Toronto-based investment manager said.

Manulife IM and its general account have $120 billion in private market assets under management across private equity, private credit, infrastructure, real estate, timberland and agriculture.

At BlackRock, Valentine Andrews served on the global operating committee, human capital committee and equity private markets executive committee. Before joining the Manhattan-based investment giant, she was co-head and chief operating officer for the Morgan Stanley infrastructure platform and worked at Macquarie Bank in Melbourne and New York.

The law graduate of Monash University began her career as an attorney in the Melbourne office of Allens Arthur Robinson.

“I’m delighted to join Manulife Investment Management to lead private markets globally,” Valentine Andrews said. “The firm has over a century of strong history from its roots as an insurer and has a foundation of world-class investment performance, risk management, sustainability and client-centricity.”

BlackRock Shuffle

Valentine Andrews’ departure from BlackRock followed closely on the late-2023 exit of Asia Pacific real estate head John Saunders, who was succeeded in the role by Hamish MacDonald. Saunders quickly resurfaced in the newly created role of group chief investment officer at Hong Kong’s Link REIT.

The reshuffle at BlackRock continued in January with the promotion of Susan Chan to head of Asia Pacific and Hua Fan as head of China.

The asset manager also announced the elevation of the firm’s head of Australasia, Andrew Landman, and head of North Asia, Hiroyuki Shimizu, to deputy heads of Asia Pacific, with Asia Pacific head of wealth James Raby taking on the role of chief operating officer for Asia Pacific.