KKR Expands French Realty Footprint

KKR has expanded its real estate footprint in France with the acquisition of a majority stake in Etche France. The global investment firm, through a European real estate fund it manages, said it has bought the strategic stake in the real estate company from Groupe BMF and co-founders. Founded in 2010, Etche owns and operates a portfolio of over 120 assets across France in the logistics, light industrial and office sectors with a gross asset value of €400m.  Mai-Lan de Marcilly, director, European real estate at KKR, said KKR and Etche have substantial experience having successfully invested together in the French logistics and light industrial sectors for the past 6 years.