Founder Profile
Hugh Frater
Last reviewed: October 2026 · By Swet Parvadiya
Who is Hugh Frater?
Hugh Frater is a founder of BlackRock, Inc., which was founded in 1988 with Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Ralph Schlosstein and Keith Anderson.
- Company founded
- BlackRock, Inc.
- Founded
- 1988
- Co-founders
- Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Ralph Schlosstein and Keith Anderson
Background
Hugh R. Frater co-founded BlackRock in 1988 as part of the group that left First Boston with Larry Fink. After his BlackRock career he chaired the real estate investment trust VEREIT and later ran Fannie Mae.
Founding Story
Frater was one of the mortgage specialists who helped launch BlackRock's fixed income business and held senior roles at the firm before leaving. He went on to become non-executive chairman of VEREIT, then moved to Fannie Mae, where he served as interim chief executive from 2018 and later as CEO until his retirement in 2022, leading the mortgage company through the pandemic years. (Exact birth year remains publicly undisclosed).
Sources
This profile does not yet cite a source specific to Hugh Frater. The sources below document the company company rather than the person, so check them against the claims above.
- BlackRock 2025 Annual Report PDF (BlackRock, Inc.)
- BlackRock 2025 Form 10-K (BlackRock, Inc.)