KKR, a leading global investment firm, today announced the final closing of KKR Real Estate Partners Europe L.P. (REPE), a $739 million fund focused on opportunistic investments in real estate and real estate-related transactions primarily in Western Europe.
Speaking on the fund close, Ralph Rosenberg, Global Head of KKR Real Estate, said:
“We believe that Europe provides an attractive real estate investment environment…”
Public pension plans, insurance companies, endowments, private banking platforms, family offices and individual investors are among the diverse group of global investors that REPE received strong support from.
The Fund’s primary investing activity will be ownership of real property or entities where the primary value resides in real property, and may make investments in both equity and debt securities. The Fund will make investments with the intent of controlling or influencing the real estate assets or companies in which it invests or, in the case of debt investments, controlling the debt class or influencing the resolution of a real estate restructuring.
Since 2013, KKR has completed multiple European real estate transactions with a combined enterprise value of over $1.3 billion. Investments to date include a mix of properties – residential, retail, hotel, and mixed use – throughout the United Kingdom, Belgium, Italy, Germany, Ireland, Spain and France.
Guillaume Cassou, Member and Head of European Real Estate at KKR, said:
“We continue to build our real estate platform in Europe and the final close of REPE is a key milestone in this effort. We believe that we are well positioned to build a diverse portfolio of investments capable of yielding attractive risk-adjusted returns, as evidenced by the portfolio of six investments that we have seeded the Fund with across a variety of sectors and countries.”
Since launching a dedicated real estate platform in 2011, KKR has committed over $2.7 billion in equity and debt across 70 real estate transactions in the U.S., Europe and Asia as of March 31, 2016. The global real estate team consists of over 40 dedicated investment professionals, spanning both the equity and debt sides of our business.