Alaska allocates $50m to KKR’s REPA III
The Alaska Retirement Management Board has allotted $50 million for KKR Real Estate Partners Americas III (REPA III), IREI has learned.
The opportunistic fund has an equity fundraising target of $3.5 billion, according to industry sources.
The fund’s predecessor, REPA II, targets value-add and opportunistic real estate investments primarily in the United States, according to KKR’s website. The fund closed in 2017 with $2 billion in capital commitments, including $261 million from KKR's balance sheet and employees.
Alaska could not be reached to comment on its investment activity.