KKR holds $2b final close for real estate fund

KKR, a leading global investment firm, has held a $2 billion final close for KKR Real Estate Partners Americas II. The value-add/opportunistic real estate fund invests primarily in the United States.

The fund includes approximately $230 million of capital from KKR’s balance sheet and employee commitments.

REPA II is the successor fund to KKR Real Estate Partners Americas, 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 percent of its capital to investors. REPA I is fully committed.

The new fund received backing from a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, financial institutions, foundations, endowments, family offices and high-net-worth individual investors.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed