Alternative asset manager KKR & Co. is opening a new office in Los Angeles as part of its plan to capitalize on opportunities it sees in California.
The office in Los Angeles will be KKR’s third in the state, joining offices in San Francisco and Silicon Valley’s Menlo Park. 
“Real estate markets are going through a combination of repricing and deleveraging,” KKR Global Head of Real Estate Ralph Rosenberg told Bloomberg.
California is “where the action is going to be, and that’s where the opportunities are going to come,” he said.
Rosenberg also referenced California’s position as one of the world’s largest economies and home of thriving entertainment, defense,…