KKR closes second European property investment fund

KKR has announced the final closing of its $2.2bn (£1.59bn) value-add and opportunistic real estate investment fund in Western Europe, KKR Real Estate Partners Europe II. At the end of June, the fund had committed more than $700m of capital across logistics and residential investments. It is the successor to an initial European property fund launched by KKR, which closed in 2016 with $739m in capital commitments. KKR said the fund will also target sub-sectors such as student housing, hospitality and prime offices. “We continue to believe that Europe represents an attractive investing environment for real estate,” said Ralph Rosenberg, global head of KKR Real Estate. “Our real estate strategy is closely integrated with the wider KKR platform, our multi-disciplinary investment expertise and is underpinned by our strong global track record. “This breadth means we can be a differentiated partner to entrepreneurs, developers and management teams, and we are well-positioned to execute on the opportunities we see in Europe.” Guillaume Cassou, head of European real estate at KKR, added: “The fund is off to a strong start with significant exposure to the logistics and residential sectors, and we are well-positioned to create a diverse portfolio of investments capable of delivering attractive returns to our investors.” KKR said the fund had strong support from new and existing investors across the globe, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private banking platforms, family offices and high-net-worth individuals. KKR Real Estate has about $28bn of assets under management globally.   To send feedback, e-mail alex.daniel@eg.co.uk or tweet @alexmdaniel or @EGPropertyNews