An executive with more than three decades of experience at Morgan Stanley will now help guide KKR’s real estate investment activity.

Guy Metcalfe was hired as a senior adviser for global real estate at KKR, the firm announced Tuesday. It said he will use his capital markets expertise and relationship network to support KKR's investment activity and grow its platform.

Metcalfe helmed Morgan Stanley’s real estate investment banking business for more than two decades, most recently as global chairman. He was involved with more than $850B in transactions during his tenure at Morgan Stanley, which he left in January 2024 after 33 years.

In the months that followed, he became a board member at several companies, including CBRE and Prologis.

“We look forward to benefiting from Guy’s invaluable perspective as we continue to grow our platform and invest into what we view as an attractive market environment,” KKR Chairman of Real Assets Ralph Rosenberg said in a press release.

Metcalfe said he was drawn to KKR’s “global reach, operating expertise and transactional capabilities.”

The hire comes after KKR earlier this month combined its infrastructure and real estate divisions under the same roof with the goal of capitalizing on investment opportunities that straddle both realms, namely data centers.

The combination meant former global head of infrastructure Raj Agrawal became global head of real assets. Rosenberg shifted from global head of real estate to his chairman of real assets.

The new combined operation will manage $157B worth of assets, including equity and credit, Bloomberg reported.

Also earlier this month, KKR and Canada’s Public Sector Pension Investment Board acquired a 19.9% stake in three power transmission companies in Ohio, Indiana and Michigan for $2.8B. The companies are owned and operated by the utility American Electric Power, and acquiring the stake provides funds to build new infrastructure.