This Week’s Biggest News in the Private Equity Markets – Week 27

At Private Equity Insights we have gathered this week’s biggest news in the private equity and venture capital markets.

1. KKR Raises $2.2 Billion Fund for European Real Estate Deals

KKR, a leading global investment firm, today announced the final closing of KKR Real Estate Partners Europe II, a $2.2bn fund dedicated to value-add and opportunistic real estate investments in Western Europe.

REPE II is the successor fund to KKR Real Estate Partners Europe, KKR’s first dedicated European real estate fund, which closed in June 2016 with $739 million in capital commitments. As of June 30, 2021, REPE II had already committed more than $700 million of capital principally across logistics and residential investment opportunities.

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2. Apollo heads to Amsterdam to pioneer first European private equity-led SPAC

Apollo Global Management is planning to launch a blank-cheque firm in Amsterdam in what will be the first such vehicle led by an alternative asset manager to go public in Europe, a source said, crowning a hectic season for buyout funds globally.

Apollo, a U.S. private equity firm which has grown over the years to become one of Wall Street’s biggest alternative asset managers, is looking to raise about $473m from a new special purpose acquisition company (SPAC)which is expected to go public after the summer, the source said, speaking on condition of anonymity.

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3. Revolut in Talks With SoftBank for Investment at $30bn+ Valuation

U.K.-based digital bank Revolut is in “detailed talks” with SoftBank about a fundraising round that could value the firm between $30bn and $40bn, according to a Sky News report.

Revolut and its advisers have asked investors at SoftBank’s Vision Fund 2 to submit proposals for an investment of between $750 million to $1 billion with a deal expected to be “some weeks” away.

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