Carlyle has appointed Peter Stoll from Blackstone to head its European real estate funds business two years after the departure of Robert Hodges and Eric Sasson.
The appointment is expected to result in the private equity giant eventually raising capital for a new fund in Europe after a long hiatus.
Stoll, who spent 12 years at Blackstone, will work with head of international real estate Adam Metz to devise a new investment funds strategy for the Continent.
Carlyle has spent the past few years focusing on managing assets from its earlier real estate funds.
Last year it closed in on the sale of the remaining assets from Simon Halabi’s White Tower portfolio.
The sales ultimately netted a substantial profit for a fund, which initially suffered heavy losses in the wake of the financial crisis.
It is currently under offer to sell the Pure Student Living student accommodation business for £525m to a consortium of Russian buyers.
Stoll has previously worked for Carlyle, having joined in 2001 from Morgan Stanley Real Estate funds before moving on to Blackstone.
