KKR Real Estate Partners Europe II nears $1b

KKR Real Estate Partners Europe II (REPE II), an opportunistic fund managed by KKR, has collected around $980 million in capital commitments, according to an SEC Form D filed on Feb. 11. A fundraising target was not disclosed in the filing.

Launched in July 2019, REPE II will invest in opportunistic real estate in Belgium, France, Germany, Ireland, Italy, Spain and the United Kingdom. The fund follows the same investment strategy as its predecessor, KKR Real Estate Partners Europe, which closed in 2016 with $739 million in capital commitments.

In 2019, the Maine Public Employees Retirement System made a $25 million follow-on commitment to REPE II. The SEC filing noted that five investors were involved in the current fundraising progress. The amount reflects sales to both U.S. and non-U.S. investors and commitments across other REPE II vehicles.

KKR could