GREYKITE Investment Adviser Limited (“GREYKITE”), a newly launched private capital investment advisory firm led by Founder and CEO Michael Abel, announces that it has completed a strategic capital investment from cornerstone investors Constellation and Leucadia Asset Management.

GREYKITE has a flexible mandate and will specialise in real estate investments across a series of asset classes with durable fundamentals in select European markets. GREYKITE utilises an approach grounded in rigorous data analysis and market research, employing a differentiated strategy focused on both asset and corporate-level transactions in high-conviction and operationally intensive sectors mainly in Western Europe, including opportunities emerging from special situations and market dislocation.

With 20 years of experience in the European real estate private equity industry, Michael Abel will oversee GREYKITE’s strategy, fundraising, and investment business, and will serve as Chairman of the Executive and Investment Committees. Prior to founding GREYKITE, Michael was an Equity Partner at TPG, where he helped establish TPG Real Estate’s efforts in Europe and served as a member of TPG Real Estate’s Investment Committee and TPG Europe’s Executive Committee.  Michael is joined in the formation of GREYKITE by former TPG colleague Dan Valenzano, Senior Partner and member of the Executive and Investment Committees, who will lead investment and portfolio company oversight activities.

To deliver on its strategy, GREYKITE has assembled a high-calibre, initial 10-person team, consisting of former TPG, Goldman Sachs, Morgan Stanley and Oaktree professionals.

Michael Abel, Founder and CEO of GREYKITE, commented: “It’s exciting to be announcing the launch of GREYKITE, and I am greatly appreciative of the support and confidence extended by our partners at Constellation and Leucadia, two of the world’s most experienced and distinguished investment groups. It comes at a highly attractive point in the investment cycle, where we see elevated levels of uncertainty and dislocation, but brimming with opportunity.

“With a high-quality team, fully aligned with our partners in our collective ambition to build a differentiated investment business on a foundation of trust, transparency and performance, we look forward to connecting with market participants and potential partners and capitalising on our robust transaction pipeline.”

Dan Valenzano, Senior Partner of GREYKITE, added: “The establishment of GREYKITE is an exciting milestone for us to announce, and we are proud to be partnering with the teams at Constellation and Leucadia, who bring a wealth of experience investing in the alternative asset management space. I look forward to working with the exceptional group of professionals who have joined GREYKITE and deploying our distinctive investment strategy into the unique European market opportunity we see emerging through 2024 and beyond.”

Adel Alderbas, Chief Investment Officer of Wafra and President of Capital Constellation, said: “We believe that Michael, Dan and the rest of the GREYKITE team are uniquely positioned to capitalize on the attractive opportunity set at the intersection of private equity and real estate within Europe. We look forward to backing GREYKITE alongside Leucadia in building a successful and durable alternative asset investment business.”

Nick Daraviras and Sol Kumin, Co-Presidents of Leucadia Asset Management, added: “We are very excited to be working with Michael, Dan, and the Constellation team in the launch of this new firm. We feel European real estate offers tremendous opportunities for experienced investors such as GREYKITE.”

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About GREYKITE

GREYKITE is an independent European real estate investment advisory firm established in 2023 and headquartered in London. The foundation of GREYKITE’s approach is the application of meticulous market research designed to identify scalable investment opportunities in a series of high-conviction sectors. Thereafter, GREYKITE seeks to drive durable and lasting value enhancement through a combination of active asset management and focused ESG initiatives at the real estate and corporate levels. GREYKITE was founded on the principles of partnership and collaboration and is committed to creating long-term-value through transparency and strong alignment of interests of internal and external stakeholders.

About Wafra

Wafra is a global alternative asset manager with approximately $31 billion of assets under management. Funds advised by Wafra have formed 28 strategic partnerships with both growth-stage and mature alternative asset managers. By providing flexible and accretive capital solutions and focusing on the long term, Wafra aligns with and invests in high-quality investment management teams. Headquartered in New York, Wafra and its affiliates have additional offices in London, Kuwait and Bermuda. For more information, please visit www.wafra.com.

About Capital Constellation

Founded and advised by Wafra and created in partnership with a select group of institutional asset owners, Capital Constellation is an innovative venture among global investors, designed as a collaborative asset owner platform with significant capital and expertise from some of the world’s premier institutional investors. Capital Constellation pursues a private equity strategy that provides growth capital to private alternative asset management firms, believing that the ability to partner with talented investment teams can create aligned, substantial and lasting benefits for both asset owners and asset managers.

About Leucadia Asset Management

Leucadia Asset Management offers institutional clients an innovative range of investment strategies through its affiliated asset managers. Leucadia Asset Management is a division of Jefferies Financial Group Inc. (NYSE: JEF). For more information, please visit: www.leucadia-am.com.