KKR has poached a key member of London & Regional’s real estate team to help it raise funds for its debut European real estate vehicle.
The New York-headquartered private equity firm has appointed L&R’s investment director of seven years, Meenal Devani, to work on the fund from its London office.
She will join Guillaume Cassou, head of KKR’s European real estate team at the firm, which has been steadily building up its team since 2012. Last year, it added former PRUPIM boss Martin Moore as a senior adviser.
KKR expanded into real estate in 2011 when it hired Ralph Rosenberg from Goldman Sachs to lead the business globally, following rivals Blackstone and Carlyle.
It made its first European property purchase in June 2013, buying circa £100m of retail warehouses from Resolution Property.
In March it formed a joint venture with Seefar to buy a four-strong portfolio of French shopping centres for €104m.
The firm, run by Henry Kravis and George Roberts, is understood to have already received commitments of more than $500m for its European vehicle.
bridget.o’connell@estatesgazette.com
