KKR Closes $2.0 Billion Real Estate Partners Americas II Fund

Press Release

January 10, 2018

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR Real Estate Partners Americas II (“REPA II” or the “Fund”), a $2.0 billion fund dedicated to value add and opportunistic real estate investments primarily in the U.S. The Fund includes approximately $230 million of capital from KKR’s balance sheet and employee commitments.

REPA II is the successor fund to KKR Real Estate Partners Americas (“REPA I”), KKR’s first dedicated real estate fund, which completed fundraising in December 2013 with $1.5 billion in capital commitments and has already returned more than 70 percent of its capital to investors. REPA I is fully committed.

“Since the inception of our real estate platform, we have leveraged KKR’s sourcing channels, access to underwriting information, and operational expertise to create strong value-driven real estate investments. Seven years later, we are proud of our progress in scaling both our real estate equity and credit strategies to create differentiated investment opportunities for our investors,” said Ralph Rosenberg, Member and Global Head of KKR Real Estate.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, financial institutions, foundations, endowments, family offices, and high net worth individual investors.

“We are pleased to have the backing of many investors from around the world who share in our enthusiasm for REPA II, helping us surpass our initial target for the fundraise – a testament to the strength of the KKR Real Estate team and the KKR franchise,” said Suzanne Donohoe, Member and Global Head of KKR’s Client and Partner Group.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed over $5 billion in capital across more than 60 real estate transactions in the U.S., Europe and Asia as of September 30, 2017. The global real estate team consists of over 50 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic manager partnerships, hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside its partners’ capital and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180110005416/en/

KKR
Kristi Huller or Cara Kleiman Major
+1 212-750-8300
media@kkr.com

Source: KKR & Co. L.P.

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Kristi Huller
Miles Radcliffe-Trenner

Julia Kosygina
Telephone: +1 (212) 750-8300

Email: media@kkr.com

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Email: kkrpr-uk@kkr.com

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Anita Davis

Wei Jun Ong
Telephone: +852 3602 7335

Email: media@kkr.com

Investor Relations

‍Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
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Email: Investor-Relations@kkr.com

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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.

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