Meet Bob Steel, the Perella investment banker and former Treasury undersecretary who is advising Larry Fink on his alternative investment buying spree

Robert Steel's career spans significant roles, including a longtime partnership at Goldman Sachs, service as undersecretary of the US Treasury, and leadership in banking crises. He has been instrumental in guiding Perella Weinberg and advising BlackRock on its aggressive push into alternative asset management, collaborating closely with Larry Fink. Steel notes the urgency in BlackRock's recent acquisitions, emphasizing their belief in seizing immediate opportunities over a slower build-up strategy.

I think the BlackRock people had what I would describe as a pretty courageous point of view that the opportunity was, for now, significant.

So they'd rather not take the time to build. They'd rather buy and be a strong participant right away.

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