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Real Estate

KKR closes second Americas real estate fund at $2 billion

KKR & Co. closed KKR Real Estate Partners Americas II at $2 billion, exceeding its $1.5 billion fundraising target, the alternative money manager announced in a news release on Wednesday.

The opportunistic value-added real estate fund is KKR's second dedicated real estate fund after the first fund's launch in 2011. KKR Real Estate Partners Americas closed in December 2013 at $1.5 billion.

Investors include the $23 billion New Mexico State Investment Council, Santa Fe; $16.3 billion Hawaii Employees' Retirement System, Honolulu; and $13.9 billion Maine Public Employees Retirement System, Augusta.