Kohlberg Kravis Roberts has appointed a former managing director of York Capital Management as the European head of its distressed debt team as the US buyout firm continues to move away from its private equity roots by expanding its asset management arm.

Mubashir Mukadam, based in London, will focus on secondary purchases of distressed assets as well as rescue lending and structured investments in Europe. In his previous role at York Capital Management, Mukadam helped to grow the firm's European distressed-debt platform.