September 2, 2025 | KKR Increases Its Investment in Mirastar

Mirastar Co-Founder Anthony Butler Transitions to Non-Executive Director

Mirastar's team with Ekaterina Avdonina (seated front left) and Anthony Butler (seated front right)

London - 2 September 2025 - After five years of successful strategic partnership, funds managed by KKR, a global investment firm, are increasing their investment in Mirastar to continue building on the success of its leading pan-European industrial and logistics platform. Co-founded in 2019 by Ekaterina Avdonina and Anthony Butler, Mirastar will continue to be led by Avdonina as Chief Executive Officer and Butler will transition his day-to-day responsibilities as Chief Investment Officer and continue to support the business as a Non-Executive Director.

Since inception, Mirastar-together with KKR-has acquired over 70 properties and approximately €3 billion in assets and developments across six countries. The company has established six offices across Europe and grown to over 40 employees. KKR's increased investment in Mirastar follows the firm's purchase of a majority stake in 2020 and will support Mirastar's continued expansion as KKR's platform for acquiring and managing logistics properties across Europe.

Seb d'Avanzo, Head of Real Estate Acquisitions for KKR in Europe, said: "Industrial and logistics has been one of our highest conviction themes in European real estate and our strategic partnership with Mirastar has enabled us to acquire an exceptional portfolio that continues to deliver strong results for our clients. Our strategic partnership with Ekaterina and Anthony has been crucial in realizing our shared vision and we see bright opportunities ahead for Mirastar under Ekaterina's continued leadership. Few people combine Anthony's deep conviction, market insight, and relentless energy. We'll miss Anthony's daily presence, but we are fortunate to still have his counsel and experience as the journey continues."

Anthony Butler, Co-Founder & CIO at Mirastar, said: "Building, launching, and growing Mirastar alongside Ekaterina into one of Europe's most respected industrial and logistics platforms has been an incredible journey. I'm proud of what we've accomplished together, which is a testament to what's possible with the right talent, strong strategic partnerships, and the support of an ambitious capital partner like KKR. As I look ahead, I remain committed to supporting Mirastar's continued success and excited about what lies ahead in real estate - especially in global logistics."

Ekaterina Avdonina, Co-Founder & CEO at Mirastar, added: "Co-founding Mirastar with Anthony has been one of the most rewarding experiences of my career. Together with KKR, we have built a platform that has exceeded all our expectations. I've learned a great deal from Anthony, both professionally and personally, and I'm grateful that he will remain involved as a non-executive director as we look to the future."

Butler's real estate career spans over 30 years, including senior European and global roles at leading institutions. Prior to launching Mirastar, he served as Head of European Real Estate for TIAA, where he led the acquisition of Henderson to form Nuveen. He also held the role of Global Head of Transactions & Indirect Investments for Generali, and senior leadership positions at MGPA, DWS, and Delin. His diverse experience includes roles as investor, developer, and operating partner.

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About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises senior real estate professionals based in London, Amsterdam, Stockholm and Frankfurt. The team at Mirastar have deployed over €20 billion of capital across key European markets and have built and constructed in excess of 4 million square meters of logistics assets collectively.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

Media ContactsKKR / MirastarFGS GlobalOli Sherwood / Jack [email protected]: +44 (0) 20 7251 3801