Private 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.
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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