KKR closes real estate fund at $13.18b

The fund is KKR's first pan-Asian real estate fund.

Global investment firm KKR has announced the closing of its KKR Asia Real Estate Partners fund at $13.18b (US$1.7b).

According to head of KKR Asia Pacific Ming Lu, the close signifies the next chapter of growth for KKR in Asia-Pacific.

The fund, according to Lu, will focus on a range of sectors, including commercial, industrial and residential properties, and will opportunistically evaluate assets in emerging alternative sectors.

“AREP’s close is an exciting milestone for our global real estate platform. Asia Pacific is an integral and increasingly important part of our investment strategy given the attractive growth and demographic drivers shared by markets across the region. Looking ahead, we are well-positioned to build on our successes in Asia-Pacific to create a diverse portfolio of investments capable of delivering attractive returns to our investors,” said Ralph Rosenberg, global head of KKR Real Estate.

KKR is a global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds.