Good Energies

Power for a better world

Hugh Frater

Chief Operating Officer, New York

Hugh Frater was appointed Managing Director and Chief Operating Officer in January 2009. He serves on the Investment Committee and chairs the Portfolio Review Committee. His responsibilities include portfolio and risk management as well as all non-investment functions of the firm.

Hugh Frater has had a long and distinguished career in investment management and financial services. He was a Founding Partner and member of the Management Committee at BlackRock, Inc, one of the world's leading investment management firms from 1988 to 2004. From 2004 to 2007 Hugh Frater was Executive Vice President of PNC Financial Services, BlackRock's largest shareholder at the time. Before he joined BlackRock in 1988, he was a vice president in investment banking at Lehman Brothers.

While at BlackRock, Hugh Frater served as co-head of the Account Management Group responsible for institutional client service and business development and also as head of the Real Estate Group, responsible for investments in high yield real estate debt and related securities. At BlackRock, Hugh Frater also formed Anthracite Capital, a publicly traded specialty finance company, and launched Carbon Capital, a series of institutional mezzanine funds. At PNC, he was responsible for the real estate businesses which included project and securitized lending, loan servicing and technology and tax credit equity investment and syndication for affordable housing. He was the CEO of PNC's wholly-owned loan servicing and technology subsidiary, Midland Loan Services, and also served on the board of PNC Investment Corporation responsible for investing excess economic capital in alternative investments.

Hugh Frater earned an AB from Dartmouth College and an MBA from Columbia Business School.