Former TPG equity partner Michael Abel has launched a new private capital investment advisory firm called GREYKITE and secured backing from Constellation – an investment platform manager by Wafra – and Leucadia Asset Management.
Abel is joined in the new venture by senior partner Dan Valenzano, formerly of TPG, who will lead investment and portfolio company oversight activities at GREYKITE.
Abel will oversee GREYKITE’s strategy, fundraising and investment business and will serve as chairman of the executive and investment committees.
GREYKITE has a flexible mandate and will specialise in real estate investments across a range of different asset classes with durable fundamentals in select European markets.
The firm has already assembled a 10-person team, consisting of former employees of TPG, Goldman Sachs, Morgan Stanley and Oaktree.
Abel (pictured) said: “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.”
Valenzano 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 capitalise 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.”
