Three senior executives have joined KKR's European platform Pillarstone, which looks to invest in non-performing loans that banks across the continent are holding on their balance sheets.

Pillarstone, which was set up in September 2015 by the credit arm of the US private equity giant, has hired Jonathan Conway, formerly Barclays' Emea head of restructuring, and Pablo Crespo, a former director from London-based private equity firm AnaCap, as partners, according to a statement.