Mirastar nabs new principal from rival

Hughes one of a string of new recruits at KKR-backed logistics firm

Mirastar has recruited Europa Capital director Will Hughes, React News can reveal.

Hughes is joining the specialist logistics investor and asset manager as a principal, having spent over six years at his previous role. Prior to Europa he worked at Grosvenor for four years.

At Europa Hughes was focused on origination and acquisitions and undertaking an income-led aggregation strategy, with a particular focus on value-add and core-plus transactions in the UK and the Netherlands.

During his time at the fund manager he invested over €1bn into the logistics sector and helped establish Europa’s first open-ended fund. In July Europa exited a €270m Dutch and German portfolio that Hughes helped build up, which was bought by a joint venture between Arrow Capital Partners and Cerberus Capital Management.

In addition to Hughes, Mirastar has hired Rob Brophy to lead the asset management of its UK portfolio, who joined from Blackstone’s last-mile platform, Mileway. The firm has also brought in Rupert Downes as a senior analyst from Pembroke Real Estate, as well as analysts Bridget Omulo, who joined from Legal & General’s Guild Living and Sam Smith, who has graduated from Bayes Business School (formerly Cass Business School).

A fast-growing platform

KKR-backed Mirastar has amassed a portfolio and combined development pipeline of €1.5bn and it is aiming to create a European platform for the private equity firm of between €3bn and €4bn. Led by chief executive Ekaterina Avdonina and chief investment officer Anthony Butler, who together founded the firm, Mirastar has made a series of recent acquisitions including Westland Industrial Estate from M&G for more than £65m.

Butler said: “With the continued rapid expansion of the Mirastar platform, Will brings great transaction experience in both UK and Europe and across our expanding investment strategies.

Written by David Hatcher
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