Starwood Capital has hired Peter Denton from BNP Paribas Real Estate.
The global private equity firm has appointed Denton as partner and head of European debt to lead the company’s £1bn European debt fund.
He is understood to be joining next week.
Starwood is currently fund-raising for the vehicle, which will invest across the capital stack, and a first close is expected by the end of the year.
It is targeting Starwood’s investors, including pension funds, insurance companies, sovereign wealth funds and high-net-worth individuals.
Denton will report to Jeff Dishner, Starwood’s international president, who moved to London last August to build up the firm’s distressed loan portfolio purchasing arm and its European debt origination business.
He is expected to recruit loan originators once the fund has completed its final closing.
The fund will provide both senior and junior debt to the European property market, focusing mainly on the UK and Germany.
It aims to fill the gap left by bank lenders exiting the real estate sector and will target prime property. It will also lend to non-prime assets that are generally not favoured by more conservative institutions.
Denton, who is chair-elect of the CRE Finance Council, has been with the French bank for around 12 months.
Prior to this he ran WestImmo’s London office as branch head, managing its London-based real estate finance activities.
