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KKR completes $1.5bn real estate fundraise as diversification continues

24 Dec 2013

real estate_lrgPrivate equity giant KKR has continued its diversification into real estate by closing a new $1.5bn vehicle targeting property in the US and Western Europe.

KKR Real Estate Partners Americas will target property-level equity and debt and businesses with sizeable real estate holdings, and has already made about a dozen deals in the last 18 months according to the firm.

Ralph Rosenberg, KKR’s global head of real estate, told Bloomberg, “We have a very deep and robust pipeline of opportunities.

“It’s harder to find things today than a year ago, but there is still a whole world of things to do with capital to help reposition assets.”

AltAssets reported in June that KKR had made its first real estate investment in Europe by buying a 430,000 square foot UK-based retail park portfolio from Resolution Property.

KKR recently hired the former head of Prudential’s real estate arm as it continued diversification from its core buyout business.

In July the firm brought in Martin Moore as one if its army of senior advisors with a responsibility for real estate investments in the UK and Europe.

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