Private Equity: KKR Buys Stake in Mirastar

April 24, 2020 | Private Equity
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Private equity firm KKR is continuing to invest across Europe during the global economic shutdown with a stake in Mirastar.

In its latest move, KKR is taking a stake in the developer, investor, and manager of industrial and logistics assets in Europe. Initially and Mirastar have acquired a 49,000 sqm forward funding project in the Netherlands. They intend to continue working together to assemble a portfolio of high quality industrial and logistical assets in gateway cities in Western Europe.

KKR and Mirastar

KKR has been very active in Europen industrial and logistical real estate. The firm has acquired 800,000 sqm of I&L space over the last 24 months across France, the Netherlands, Italy, Spain, and Ireland. The firm intends to remain active in the space during the crisis.

Guillaume Cassou, Partner and Head of European Real Estate at KKR, told investors that “Logistics real estate continues to be an attractive market for KKR, despite the challenges of the current market environment, with strong investment fundamentals and future growth drivers.”

Mirastar was co-founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer, with initial platform backing from M7 Real Estate. The team currently comprises 15 senior real estate professionals and has offices in London, Madrid, and Rotterdam.

KKR is buying M7s stake in the transaction, giving M& an attractive exit point for their startup investment last year.

Related: Hedge Funds: Starboard Value Pressures for Changes at eBay, Deal at Green Dot

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