US real estate

KKR closes $ 4.3 billion opportunistic real estate fund for the Americas


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NEW YORK–(COMMERCIAL THREAD) – KKR, a leading global investment firm, today announced the definitive closing of KKR Real Estate Partners Americas III (“REPA III” or the “Fund”), a $ 4.3 billion fund. dollars dedicated to opportunistic real estate investments mainly in the United States. Together with dedicated funds raised in Asia and Europe over the past 12 months, KKR’s global opportunistic real estate equity strategies oversee more than $ 8 billion across three active regional funds.

REPA III is the successor fund to KKR Real Estate Partners Americas II (“REPA II”), which completed its fundraising in January 2018 with $ 2.0 billion in capital commitments. The Fund has received strong support from a diverse group of new and existing global investors, including public pension plans, sovereign wealth funds, insurance companies, family offices, high net worth individual investors and other investors. institutional. By September 2021, REPA III had already committed more than $ 1 billion in capital.

“More than double the size of our predecessor fund, REPA III demonstrates our investors’ enthusiasm for current opportunities in the Americas as well as their confidence in our integrated platform to deliver differentiated absolute and relative investment performance to through changing market cycles, ”said Chris Lee, Americas real estate manager for KKR.

“Through our thematic approach and our connectivity to KKR’s broad investment platform, we were able to identify high conviction investment themes in which we have invested at scale to generate attractive risk-adjusted returns for our clients. investors. We plan to continue this approach as we identify investment opportunities for REPA III, ”said Justin Pattner, Head of Real Estate Equities in the Americas for KKR.

KKR first set up a dedicated real estate team and strategy in 2011. Over the past decade, the team has grown to around 130 dedicated investment professionals covering both the business of equity and credit in twelve bureaus and nine countries, and overseeing $ 33 billion in assets under management. in real estate strategies globally, as of June 30, 2021.

“As we mark this important milestone in our business 10 years after launching a dedicated real estate strategy, our real estate platform has evolved to include multiple pools of capital with the ability to conduct large-scale transactions on the the full spectrum of equity and credit risks. We believe our platform provides us with tangible benefits that translate into differentiated results for our collective investors across our multiple products, ”said Ralph Rosenberg, Global Head of KKR Real Estate.

About KKR

KKR is a leading global investment firm providing alternative asset management, capital markets and insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined approach to investing, employing world-class people and supporting the growth of its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer pension, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information on KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

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