King Street Raises $1 Billion as European Property Cracks Appear

King Street Capital Management has raised close to $1 billion for a fund to exploit the distress and dislocation that’s finally emerging in European real estate after the end of zero interest rates.

The firm’s European Real Estate Special Situations II fund reached its hard cap of $950 million of capital commitments within 12 months, according to a statement Monday. King Street has already deployed more than €1.5 billion ($1.2 billion) in European real estate debt and equity since interest rates ratcheted higher in 2022, partner and co-head of global real estate Paul Brennan said in an interview, and the ...