Seeking Alpha

KKR draws in $1.5B for first property fund

  • KKR (KKR) has raised $1.5B for its first property fund, which will invest most of its money in North America but also up to 25% in Europe.
  • The establishment of KKR Real Estate Partners Americas comes two years after the private-equity firm formed a property unit in 2011, since when it has completed 14 deals. It also adds to the trend of P-E companies increasing their focus on real estate.
  • "We have a very deep and robust pipeline of opportunities," said KKR's Ralph Rosenberg, although he warned that "it's harder to find things today than a year ago."
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