King Street Capital Management has held a final close of its European Real Estate Special Situations Fund II (ESS II), hitting its hard cap of approximately $950 million of capital commitments within 12 months.
ESS II targets situations where traditional capital has retrenched with the objective of accessing institutional-grade real estate at compelling valuations. The fund will invest across core markets in Western Europe, focusing on high-quality assets that are temporarily mispriced due to market illiquidity rather than fundamentals. Leveraging King Street's ability to invest across the capital structure, ESS II offers flexible, asset-specific capital solutions tailored to borrower needs, with a focus on unlocking value through capital structure solutions, repositioning and hands-on asset management.
ESS II attracted a globally diversified investor base across North America, Europe, Asia and the Middle East, with 50 percent of commitments coming from re-ups of the
