Policard switches from Morgan Stanley to KKR

Kohlberg Kravis Roberts (KKR), the US alternative assets giant, has recruited Vincent Policard to its European infrastructure operation as a London-based director. He will originate and execute transactions in Europe and report to European head Jesus Olmos.

Policard was previously at Morgan Stanley Infrastructure (MSI) for three years, and becomes the second notable recent departure from the organisation. In December, Infrastructure Investor exclusively revealed that MSI global head Sadek Wahba had stepped down to be replaced by three co-heads: Markus Hottenrott, Anne Valentine Andrews and Jim Wilmott.

While at MSI, Policard had played a role in the firm’s investments in Madrilena Red de Gas, the Spanish gas distributor, and Eversholt Rail Group, the UK rolling stock leasing company. Prior to his stint at MSI, Policard had spent nine years in Morgan Stanley’s investment banking division advising corporates and financial sponsors on M&A and financing issues. He also worked for three years at BNP Paribas in Frankfurt, also in investment banking.

“I am excited to be joining such a strong and growing team in this area,” said Policard in a statement. “KKR has the skills, track record and ambition to become a leader in infrastructure and also brings a great spirit of partnership to each investment in enters.”

KKR’s global infrastructure fund made four investments last year, three of which were in Europe: French wind assets (with Italian energy company Sorgenia); European solar photovoltaic assets (with German insurer Munich Re); and Spanish car parking business Saba Infraestructuras (with investment bank Criteria CaixaHolding and investment firms Torreal and ProA Capital).       

Wahba, an economist by training, headed MSI and its $4 billion global infrastructure fund, launched in 2006 and which is now close to being fully invested. It is not yet known what he plans to do next.