KKR wrapped up its $1.1 billion fund focused on purchasing junior tranches of newly issued commercial mortgage-backed securities.

The KKR Real Estate Credit Opportunity Partners fund surpassed its fundraising target, with a global investor base that includes public pensions, insurance companies and family offices.

Since its first transaction earlier in 2017, the fund has completed six additional transactions with a total face amount of $517 million and aggregate invested equity of about $225 million.

Established in 2015, KKR's real estate credit arm aims to invest in commercial real estate debt and provide commercial property owners with financing solutions.