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Laxman Pai, Opalesque Asia: The global investment firm KKR has raised $2.2bn for its second value-add and opportunistic European real estate fund.
The fund focuses on value-added and opportunistic real estate investments in Western Europe in sectors such as logistics, residential, student housing, hospitality, and offices.
The target size of KKR Real Estate Partners Europe II (REPE II) was not disclosed. The amount raised for the REPE II fund exceeded the $739m raised in June 2016 for the manager's first dedicated European real estate fund.
According to a press release, REPE II received commitments from new and existing investors globally, including public pension funds, sovereign wealth funds, insurance companies, and endowments.
As of June 30, 2021, REPE II had already committed more than $700 million of capital principally across logistics and residential investment opportunities.
Among investors was the $17.6 billion Maine Public Employees Retirement System, Augusta, which committed up to $25 million in 2019.
Jon Fiorello, the head of KKR's real estate strategies team, said: "We are pleased to have the backing of many investors from around the world who share in our enthusiasm for REPE II, helping us surpass our initial target for the fundraise - a testament to our real estate expertise, our global investment platform, and the team's track record."
Ralph Rosenberg, a partner and global head of KKR Real Estate, said: "We continue to believe t...................... To view our full article Click here
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