HONG KONG—KKR said Monday it had hired Blackstone managing director Robert Yang as head of Greater China in the firm's real estate team. Yang, who joins KKR as a managing director effective Wednesday, will be based in Hong Kong.
Yang will be responsible for sourcing investments and continuing to build KKR's real estate platform in China. He will also work in close partnership with managing director Bryan Southergill to advance the private equity giant's broader regional real estate investment strategy across the region. In common with Southergill, Yang will report to Ralph Rosenberg, global head of KKR Real Estate, and Joseph Bae, managing partner of KKR Asia.
“China is a very attractive market for real estate given the broader macroeconomic dynamics,” says Rosenberg. “The credit environment combined with shifting demographics has created a need for financial solutions and restructurings across commercial, residential and mixed-use properties. By leveraging Rob's extensive network of developers, property owners and investors in China we are well-positioned to provide these capital solutions to strong local partners.”
Yang joined Blackstone from the Carlyle Group in 2007 and helped to establish the firm's China real estate investment platform. He managed a team of real estate professionals and led the investment processes for a number of key transactions, with a focus on Greater China. Citing sources said to be familiar with the matter, the Wall Street Journal reported Monday that Yang's departure from Blackstone was amicable and the position at KKR will be a better fit for him because it has a more entrepreneurial edge.
“It is a great opportunity to join such a world-class firm at this exciting time for the real estate market,” says Yang. KKR, which has invested more than $700 million into Asia Pacific real estate since 2011, “has cultivated a reputation as an innovator by providing differentiated and holistic financial solutions to real estate owners and developers. I look forward to working with the KKR team to source new investment opportunities.”
HONG KONG—KKR said Monday it had hired Blackstone managing director Robert Yang as head of Greater China in the firm's real estate team. Yang, who joins KKR as a managing director effective Wednesday, will be based in Hong Kong.
Yang will be responsible for sourcing investments and continuing to build KKR's real estate platform in China. He will also work in close partnership with managing director Bryan Southergill to advance the private equity giant's broader regional real estate investment strategy across the region. In common with Southergill, Yang will report to Ralph Rosenberg, global head of KKR Real Estate, and Joseph Bae, managing partner of KKR Asia.
“China is a very attractive market for real estate given the broader macroeconomic dynamics,” says Rosenberg. “The credit environment combined with shifting demographics has created a need for financial solutions and restructurings across commercial, residential and mixed-use properties. By leveraging Rob's extensive network of developers, property owners and investors in China we are well-positioned to provide these capital solutions to strong local partners.”
Yang joined Blackstone from the Carlyle Group in 2007 and helped to establish the firm's China real estate investment platform. He managed a team of real estate professionals and led the investment processes for a number of key transactions, with a focus on Greater China. Citing sources said to be familiar with the matter, the Wall Street Journal reported Monday that Yang's departure from Blackstone was amicable and the position at KKR will be a better fit for him because it has a more entrepreneurial edge.
“It is a great opportunity to join such a world-class firm at this exciting time for the real estate market,” says Yang. KKR, which has invested more than $700 million into Asia Pacific real estate since 2011, “has cultivated a reputation as an innovator by providing differentiated and holistic financial solutions to real estate owners and developers. I look forward to working with the KKR team to source new investment opportunities.”
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