KKR Credit announced that John Davison, business turnaround specialist and former Global Head of Strategic Investments at Royal Bank of Scotland, will assume the role of CEO of Pillarstone.
Davison, who also joined as co-investor, will help Pillarstone grow roll-out on a pan-European scale. He started his career as a strategy consultant at Booz and McKinsey before working in Private Equity with The Carlyle Group, Warburg Pincus and Bridgepoint. He joined RBS in 2011 as Global Head of Strategic Investments and a member of the Management Team of RBS Restructuring where he worked closely with the Asset Protection Agency.
A portfolio company of certain funds and accounts managed or advised by KKR Credit, Pillarstone is a pan-European platform that works with European banks to create value by managing their exposure to non-core and underperforming assets on their balance sheets.
The platform will provide long-term capital and operational expertise to businesses which underpin these non-performing and non-core exposures to stabilize, and grow.