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BLACKROCK EXPANDS REAL ESTATE DEBT BUSINESS; EDENS TO JOIN AS PARTNER

 NEW YORK, Oct. 6 /PRNewswire/ -- BlackRock Financial Management L.P. announced today that Wes Edens has joined the firm as a partner. Mr. Edens will focus on BlackRock's investment activities in real estate debt, including securities backed by a wide variety of commercial properties. The addition of Mr. Edens strengthens BlackRock's already substantial commitment to this sector of the market. BlackRock is currently preparing an investment partnership for institutional investors designed to take advantage of the growing opportunities available in commercial and multifamily securities.
 Mr. Edens was previously a managing director at Lehman Brothers, where he was responsible for building Lehman's non-agency residential and commercial mortgage securities effort into one of the most profitable businesses at the firm. In establishing Lehman as the top underwriter in this sector, Mr. Edens was involved in all aspects of the business, including loan acquisition, risk management, due diligence and structuring.
 Laurence Fink, chairman and chief executive officer of BlackRock, said, "Wes brings extraordinary depth to BlackRock's expertise in securitized real estate. With the dislocations that have occurred in the commercial debt and equity markets worldwide, we believe there are exceptional opportunities for investors in this sector. Wes will be an integral part of BlackRock's expanding efforts in this area."
 Wes Edens commented, "I had tremendous experiences in the six years I spent at Lehman Brothers. Going forward, I feel that I can best utilize my capabilities at a smaller, more entrepreneurial firm. Joining BlackRock gives me the opportunity to put my experience to work identifying unique opportunities for institutional investors in the rapidly growing commercial and multifamily markets."
 BlackRock Financial Management L.P. is a New York-based asset management firm specializing in fixed income products. BlackRock currently manages in excess of $21 billion on behalf of individual and institutional investors throughout the world. Included among these mandates are 24 U.S. mutual funds and portfolios for more than 70 institutional investors in seven countries.
 Mr. Edens joined Lehman Brothers in 1987 and became a managing director and partner in 1992. Prior to joining Lehman, Mr. Edens worked at Smith Barney and at Merrill Lynch. Mr. Edens received a B.S. in finance and computer science from Oregon State University.
 -0- 10/6/93
 /CONTACT: Laurence D. Fink of BlackRock, 212-754-5546/


CO: BlackRock Financial Management L.P. ST: New York IN: FIN SU: PER

TW-LG -- NY014 -- 9213 10/06/93 09:16 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
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