KKR closes first UK deal after turning bullish on the economy

 
Michael Bow
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WALL Street buyout giant KKR completed its first ever European property acquisition yesterday, snapping up a trio of UK retail parks after sensing a turnaround in the British economy.

The private equity titan, co-founded by Henry Kravis and immortalised in best selling book Barbarians at the Gates, said it had bought a portfolio from Resolution Property comprised of a retail park in Sunderland, the Great Western park in Glasgow and Templars retail park in Oxford.

Guillaume Cassou, head of the KKR Europe Real Estate, told City A.M. “While the retail market has been hammered for the past couple of years, we think the situation might be about to stabilise and potentially getting into a phase where the UK economy is rebounding.”

He added that KKR was looking at deals in France and Spain as well as Germany but it was likely the next KKR real estate deals would occur in the UK.