Deutsche Bank’s head of EMEA commercial real estate special situations, Charles Blackburn, has left the bank.
Blackburn, who was responsible for distressed and non-performing asset investments, is heading to Oaktree Capital.
In his new position Blackburn will continue to invest in distressed real estate debt and equity investments, such as the Project Gaudi portfolio of Spanish assets Oaktree Capital bought from German bad bank FMS Wertmanagement.
Blackburn had been with Deutsche for more than 10 years and led a team that had been responsible for a number of the major NPL deals in the past year.
The special situations team was believed to be the one which won the Project Spring National Asset Management Agency portfolio of loans in 2014 for Deutsche, and also a share of the Volksbank Romania loan portfolio alongside AnaCap and HIG Bayside Capital.
Blackburn’s departure came just months after Deutsche’s US special situations team were transferred to TPG following the sale of $2.5bn of assets to the US private equity fund.
