We take a thematic approach to real estate investing. By leveraging the information made available to us from business units across the firm, subject to legal or regulatory considerations, we identify industry and demographic trends to invest behind. We invest in assets, companies and platforms. And given the flexibility of our capital, we have grown into a global provider of equity and debt capital across real estate investment strategies.
Real Estate Equity
Primary Mandate: To create outsized returns by leveraging KKR's differentiated insights, relationships, and execution capabilities.
REPA targets opportunistic Real Estate investments primarily in the U.S.
- REPA I closed in 2013 with over $1.5 billion of committed capital including $491 million from KKR’s balance sheet and employees and KKR Financial Holdings LLC.
- REPA II closed in 2017 with approximately $2.0 billion of committed capital including $261 million from KKR’s balance sheet and employees.
- REPA III closed in 2021 with over $4.3 billion of committed capital including $300 million from KKR’s balance sheet and employees.
REPE targets opportunistic Real Estate investments in Western Europe
AREP targets opportunistic Real Estate investments in Asia Pacific. The fund closed in 2020 with over $1.7 billion of committed capital, including $295 million from KKR’s balance sheet and employees.
KKR Real Estate Select Trust ("KREST")
KREST is a '40 Act REIT that thematically invests in high-quality, stabilized, income-oriented commercial real estate equity and debt primarily in the U.S. with the optionality to extend exposures globally into developed Asia and Europe.
KJRM is one of the largest real estate asset managers in Japan, and is considered a pioneer in the Japanese real estate investment trust (“J-REIT”) sector. Acquired by KKR in 2022, KJRM today manages two Tokyo Stock Exchange-listed REITs:
- Japan Metropolitan Fund Investment Corporation (“JMF”), which invests in multi-family, retail, offices, hotels and other assets located in urban areas; and
- Industrial & Infrastructure Fund Investment Corporation (“IIF”), which focuses on industrial and infrastructure properties in Japan.
Real Estate Credit
Primary Mandate: To invest in performing commercial real estate debt throughout the U.S.
KKR Real Estate Finance Trust Inc. (NYSE: KREF)
KREF is an externally managed REIT that focuses on originating senior commercial mortgage loans.
RECOP primarily seeks to purchase junior tranches of conduit commercial mortgage-backed securities (CMBS) in compliance with risk retention rules, as well as other Conduit and SASB CMBS as well as CRE CLOs.
ROX seeks to originate senior loans on transitional assets owned by institutional sponsors, as well as purchase mezzanine loans, preferred equity, and commercial mortgage-backed securities (CMBS).