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KKR Closes $2B Value-Add, Opportunistic Real Estate Fund
New York-based global investment firm KKR closed KKR Real Estate Partners Americas II (REPA II), a $2-billion fund dedicated to value add and opportunistic real estate investments primarily in the U.S. The fund includes roughly $230 million of capital from KKR’s balance sheet and employee commitments.
REPA II is the successor fund to KKR Real Estate Partners Americas (REPA I), KKR’s first dedicated real estate fund, which completed fundraising in December 2013 with $1.5 billion in capital commitments and has already returned more than 70% of its capital to investors. REPA I is fully committed.
KKR Real Estate’s Ralph Rosenberg says, “Since the inception of our real estate platform, we have leveraged KKR’s sourcing channels, access to underwriting information, and operational expertise to create strong value-driven real estate investments. Seven years later, we are proud of our progress in scaling both our real estate equity and credit strategies to create differentiated investment opportunities for our investors.”
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