KKR’s commercial real estate fund the KKR Real Estate Select Trust (Krest) received redemption requests in excess of it’s 5% quarterly redemption limit for the quarter ending 1st December 2022.

Investors requested withdrawals of 8.1% of the firm’s $1.6bn net asset value – above the fund’s 5% quarterly withdrawal limit. The fund is targeted at HNW retail.

Krest said it held 36% of the fund in liquid assets and inflows into the fund exceeded requested outflows for the quarter.

This follows similar redemption limits by Blackstone and Starwood.