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KKR Real Estate Finance Trust files for IPO

KKR Real Estate Finance Trust has filed a preliminary prospectus for an initial public offering of common stock.

The proposed maximum aggregate offering price is $100 million, estimated solely to calculate the registration fee.

KKR Real Estate Finance Trust intends to use the net proceeds from the IPO to acquire its target assets. The company may invest the net proceeds in money market funds, bank accounts, overnight repurchase agreements with primary Federal Reserve Bank dealers or other related investments.

The company intends to apply for listing of its common stock on the New York Stock Exchange under the symbol KREF.

Wells Fargo Securities LLC and Morgan Stanley & Co. LLC are acting as representatives for the underwriters for the offering. KKR Capital Markets LLC, Barclays Capital Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Keefe Bruyette & Woods Inc. are also listed as underwriters on the prospectus.

KKR Real Estate Finance Trust is a nontraded mortgage REIT managed by KKR & Co. LP that invests in transitional senior loans, subordinate debt and preferred equity collateralized by commercial real estate assets.