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KKR racks up $1.1 bln for real estate credit fund

KKR has closed its real estate credit fund at $1.1 billion.

The KKR Real Estate Credit Opportunity Partners fund will focus on investing in commercial-backed securities.

RECOP’s limited partners include public pensions, insurance companies, and family offices.

According to KKR, the fund has recently closed on seven unnamed investments.

Founded in 2015, KKR’s real estate credit business is led by Chris Lee and Matt Salem. The business was formed to invest in commercial real estate debt while offering financing solutions to commercial property owners.

In 2011, KKR launched its dedicated real estate platform and since then has invested over $4.5 billion in more than 60 real estate deals in the U.S., Europe and Asia, as of June 30, 2017.

Photo of a toy house flanked by dollars courtesy of alexsl/iStock/Getty Images