Anil Khera, managing director of real estate at Blackstone, has left the firm to launch a property development business.
Khera was responsible for sourcing debt against all of Blackstone’s major acquisitions in Europe.
The new company, which will launch in October, will build, operate, develop and invest in homes for young professionals in the UK, Canada and the US to create a long-term portfolio “from the ground up”.
It will target tech-led cities with small start-ups and up-and-coming neighbourhoods where it will specialise in affordable housing.
Khera joined Blackstone in 2006 and was previously part of the acquisitions team at Credit Suisse/DLJ Real Estate Capital Partners in Los Angeles.
He was involved in more than €20bn of real estate transactions during his time at Blackstone and is now on gardening leave.
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From 6 June: Blackstone fund closes with £4.3bn >>
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