KKR Raises $1.2 Billion Real Estate Fund

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U.S.-based global investment firm KKR has finished fundraising for its $1.2 billion real estate fund that invests in North America and western Europe. 

Combined with KKR personnel and KKR Financial Holdings, KKR's real estate platform has more than $1.5 billion of committed capital for its investments plans, according to a company announcement. 

"We believe the current market opportunity has the potential to create strong value-driven investment opportunities," Ralph Rosenberg, Global Head of Real Estate, said in a statement. 

KKR started fundraising for KKR Real Estate Partners Americas, its first dedicated real estate fund, in the second quarter of 2013. The fund will continue to target real estate opportunities--including property-level equity, debt, special situations transactions and businesses with significant real estate holdings, the company stated. 

Since its inception in 2011, the fund has committed more than $850 million of equity to 14 real estate deals in the U.S. and Europe. 

In June, the firm entered the European property market, paying £112 million ($174.7 million) for three U.K. retail warehouse parks.  

"We are very excited that we were able to attract new and existing KKR investors from leading public and private pension funds, sovereign wealth funds, insurance companies and family offices," Suzanne Donohoe, head of KKR's Client and Partner Group, said.