KKR hires head of Euro distress

Kohlberg Kravis Roberts has made a second high-profile hire as it continues to build its asset management platform. The alternative assets giant has appointed Mubashir Mukadam as its European chief for special situations investments.

Mukadam, who was most recently a managing director at New York-based hedge fund York Capital Management, will focus on secondary purchases of distressed assets as well as rescue lending and structured investments in Europe. He will report to Nat Zilkha and Jamie Weinstein, KKR’s two co-heads of special situations.   

The appointment of Mukadam comes just a few months after Jessica Beattie joined KKR’s New York office in September to focus on secondary distressed and structured investments in North America. Prior to the move Beattie worked as a senior analyst at Eton Park Capital Management, a hedge fund. She was also previously a vice president in Goldman Sachs’ special situations group.

KKR’s $15 billion asset management platform focuses on distressed investment and marketable securities, such as bank loans and high yield bonds, and encompasses the firm’s special situations operations. It was launched in 2004 and now boasts a 100-strong team, 45 of which are investment professionals.  

The hire of Mukadam “is part of a concerted effort to build out our special situations team globally and, with the right resources, we will continue to grow this effort in Europe” said Zilkha in a statement.

Zilkha, who moved to the firm’s KAM platform in 2009 to help develop the group’s special situations strategy, will relocate to London. 

For more on distressed investment see Private Equity International's  Definitive Guide to Distressed Debt and Turnaround Investing