KKR raising $1.5 bn for first Asia real estate fund

Global investment powerhouse KKR & Co Inc is raising its first Asia-focused real estate fund, targeting $1.5 billion as it looks to deepen its real estate portfolio in the region, said people with knowledge of the matter. The New York-headquartered private equity firm is moving towards first-close of the fund late in the second quarter, the people said, declining to be named as the information is confidential. The firm itself will commit about $250 million in capital, and potential investors - also known as limited partners - include sovereign funds and pension funds, they said. KKR declined to comment.