Friday, 26 August 2016
Last updated 41 min ago
Feb 3 2014 | 1:46pm ET
Private-equity giant Kohlberg Kravis Roberts has opened its first office in Spain as it ramps up its efforts to invest in the recession-scarred country.
The new base in Madrid currently features only one full-time staff member, The Wall Street Journal reports. Jesús Olmos will lead the office, although the head of KKR's Europe, Middle East and Africa infrastructure team will remain based in London.
Olmos said he would be in Madrid often, and told the Journal that KKR employees are flying into Spain "practically every week."
KKR has more than €1 billion invested in Spain, an amount that will grow as the firm seeks out opportunities in real estate and infrastructure. KKR also has a direct-lending effort focused on Spanish companies with €10 million to €15 million in annual operational cash flow.
Olmos did not say how much KKR plans to invest in Spain in the next few years.