KKR — a New York-based global investment firm — has opened a new office in Century City in Los Angeles. Located at 2029 Century Park, the 6,000-square-foot space will initially house the firm’s real estate, private equity, private wealth and institutional client relationship teams. The office is expected to eventually accommodate 25 to 30 executives.
KKR has approximately 250 employees based in California across three offices. With the opening of its new office in Los Angeles, the firm will have a presence in 24 cities around the world.
Ryan Stork, KKR’s partner and chief operating officer, said the new office “provides flexibility for further expansion to support the needs of our business.” He also added that the firm has had a “significant presence on the West Coast for four decades” and is “pleased to grow our footprint in southern California.”
In recent years, KKR assets in this region have included industrial warehouses; self-storage facilities; and niche properties, such as student housing. The company’s interest in the region is driven by its strong economic growth, demographics and vibrant business scene.
Ralph Rosenberg, KKR’s partner and head of real estate, said the new office “serves as a natural extension of our existing footprint in northern California and brings more of our team closer to some of our clients.”
The Century Park complex is made up of a trio of towers jointly owned by Hines and Commingled Pension Trust Fund, an entity managed by JPMorgan Chase. The partnership gained a controlling interest in the office campus in 2014, when it paid just more than $1.6 billion for a portfolio that also included office and retail space at 2000 Avenue of the Stars.
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