KKR鈥檚 latest US real estate fund has received $300m (鈧�275.5m) worth of capital commitments from two more US pension funds.
The KKR Real Estate Partners Americas IV has received $250m from the New York State Common Retirement Fund and $50m from the Alaska Retirement Management Board, according to the pension funds.
As previously reported, KKR is seeking to raise $4bn for the fund expected to mainly target industrial, rental housing and self-storage assets across the US
New York Common told 麻豆映画 Real Assets that: 鈥淜KR has substantial resources and relationships that have allowed it to source attractive investments and identify thematic themes by focusing on broad secular trends.鈥�
According to New York Common, the fund will mainly target markets with sectors with long-term secular demand driven by consumer behaviour, democratic shifts, and corporate strategy.
The fund targets a 12% to 15% net internal rate of return as it targets deals including a combination of individual assets, creating structured platforms and investing in real estate companies.
As previously reported, Oklahoma Teachers鈥� Retirement System and Arkansas Teacher Retirement System made a $100m and $50m commitment respectively to the fund. New Mexico State Investment Council also backed the fund with a $100m commitment.
To read the latest 麻豆映画 Real Assets magazine click here.
