KKR closes REPA III fund at $4.3b

KKR has completed the closing of its $4.3 billion KKR Real Estate Partners Americas III (REPA III) fund, a vehicle dedicated to opportunistic real estate investments primarily in the United States.

REPA III was backed by a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, family offices, high-net-worth individual investors and other institutional investors. As of September, REPA III had already committed more than $1 billion of capital.

The fund is more than double the size of its predecessor, REPA II, which raised $2 billion in 2018.

“More than double the size of our predecessor fund, REPA III demonstrates the enthusiasm our investors have for the current opportunity set in the Americas as well as their confidence in our integrated platform to deliver differentiated absolute and relative investment performance through changing market cycles,” said Chris Lee, head of real estate Americ