KKR Opens LA Office in Hines’ Century Park Towers
By Greg Cornfield August 22, 2023 2:35 pm
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One of the nation’s largest private equity firms is opening a new shop in Los Angeles.
To expand its West Coast operations, KKR (KKR) signed a lease for 6,000 square feet at 2029 Century Park East — the north tower of the Century Park office complex in Century City — owned by Hines and JPMorgan. The space will initially support the firm’s real estate, private equity, private wealth and institutional client relationship teams, and the firm expects it will accommodate 25 to 30 executives over time.
“We have had a significant presence on the West Coast for four decades, and we are pleased to grow our footprint in Southern California with the opening of a new office in Century City,” Ryan Stork, partner and chief operating officer of KKR, said in a statement. “We deliberately selected a location that provides flexibility for further expansion to support the needs of our business.”
Ralph Rosenberg, partner and head of KKR Real Estate, said their teams have been spending a lot of time in Southern California. KKR has one of the most powerful financial teams and is one of the most active real estate players in the nation, including through major industrial and multifamily deals in California.
“Having a permanent presence in L.A. serves as a natural extension of our existing footprint in Northern California and brings more of our team closer to some of our clients,” Rosenberg said.
KKR has approximately 250 employees based in California across three offices. With its new L.A. office, KKR will have outposts in 24 cities around the globe, including U.S. offices in New York, Menlo Park, San Francisco, Miami, Dallas and Houston. As of March 31, KKR had more than $65 billion assets under management, and it now owns or lends on $207 billion of real estate assets.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
