LONDON, July 25 U.S. private equity firm
Kohlberg Kravis Roberts has hired Martin Moore, the
former head of Prudential's real estate arm, to help
with its push into the property sector.
Moore, who retired as Chairman of M&G Real Estate in June,
and had worked at the company since 1996, joins as a Senior
Advisor, KKR said in a statement on Thursday. He will work with
KKR's investment team to help expand its property business as it
looks to put more money to work in Europe.
Private equity funds under pressure to find high yielding
investments are boosting their real estate holdings amid low
returns from bonds and the volatility of equity markets.
KKR recently completed its first European property
investment in June, paying 112 million pounds ($171.99
million)for three retail parks in Oxford, Glasgow and Sunderland
in the UK.
Founded by billionaire cousins Henry Kravis and George
Roberts in 1976, KKR managed upwards of $78 billion as of the
end of March. It has expanded beyond its private equity roots
into credit, real estate, hedge funds and other alternative
Prupim, a real estate investment arm of British insurer
Prudential now known as M&G Real Estate, is one of the 20
largest real estate investors in Europe with 16 billion pounds