Intermediate Capital Group (ICG) has hired former Starwood Capital European real estate head Krysto Nikolic to lead its global real estate expansion.

The provider of flexible capital solutions said Nikolic has been appointed senior managing director and global head of real estate will join ICG’s management committee.

Prior to joining ICG, Krysto led Starwood Capital’s European Real Estate from July 2018 where he served on its global investment and operating committees.

Before that, he was a partner at asset manager TPG for more than six years and served on TPG Real Estate’s investment committee.

In June last year, ICG moved into Australia’s real estate debt markets with the acquisition of Newground Capital Partners, a company that specialises in mid-market real estate financing in Australia, investing across the capital structure.

ICG has been managing UK real estate debt funds since it acquired Longbow Real Estate Capital in 2011 and in 2020 year hired Philippe Deloffre from BNP Paribas Asset Management to lead its activities in Europe.

Based in London, Krysto will lead the ongoing expansion of ICG Real Estate, the asset manager said.

ICG’s real estate arm currently manages $7.4bn assets under management in real estate equity and debt strategies and invests across the capital structure in both real estate assets and corporate platforms.

Benoit Durteste, CIO and CEO of ICG, said Krysto’s hire reflects ICG’s “continued belief in the attractive global real estate market and in our opportunity for continued growth of ICG Real Estate”.

“His extensive track record in real estate investing and building teams across multiple strategies makes him a key leader in accelerating ICG’s capabilities in this space.”

Nikolic said: “ICG has an outstanding track record of delivering for investors and shareholders and is extremely well-placed to benefit from the significant and increasing capital flows into global real estate.

“I look forward to working with a high-quality group of colleagues and leading ICG Real Estate during its next phase of growth.”

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