KKR closes latest real estate fund at $4.3 billion

KKR & Co. has closed opportunistic real estate fund KKR Real Estate Partners Americas III at $4.3 billion, a news release said Monday.

The previous fund, KKR Real Estate Partners Americas II, closed at $2 billion in 2018, exceeding its $1.5 billion fundraising target.

The news release did not disclose the target of the new fund.

Investors in the new fund include the $268.3 billion New York State Common Retirement Fund, Albany; the $129.2 billion Minnesota State Board of Investment, St. Paul; the $62.9 billion Illinois Teachers’ Retirement System, Springfield; and the $41 billion Alaska Retirement Management Board, Juneau.

Cara Major, KKR spokeswoman, and Miles Radcliffe-Trenner, KKR spokesman, could not be immediately reached for further information.

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