FINANCE: Kohlberg Kravis Roberts & Co has confirmed the appointment of Meenal Devani as a director in the European real estate team.
Devani will be responsible for real estate investments in the UK and Ireland, and in the hotel sector across Europe.
She joined KKR from London & Regional Properties, where she was investment director, responsible for acquisitions. Devani previously worked at McKinsey & Co in London.
She holds an undergraduate degree in economics from Cambridge University and an MBA from Stanford Business School.
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 (£82.4m).
The firm, run by Henry Kravis and George Roberts, is understood to have already received commitments of more than $500m (£312m) for its European vehicle.
Rosenberg, global head of real estate for KKR said: “Meenal has strong expertise and experience in the UK real estate market and in the hotel sector. Her knowledge and network will be of great value as we continue to build our business.”
Devani said she was “especially attracted by the firm’s flexible and entrepreneurial approach to real estate investing”.
KKR’s real estate investment team partners with real estate owners, lenders, operators and developers to provide transaction-specific capital, including the outright purchase or financing of existing assets or companies and the funding of future development or acquisition opportunities.
