KAREP V has so far deployed more than 20% of the fund. : Kayne Anderson Real Estate Partners V (KAREP V) has achieved its $1.8bn (€1.54bn) fundraising target, the fund’s manager has confirmed. Kayne Anderson Real Estate said it has closed its fifth opportunistic equity fund, KAREP V, at its hard cap, exclusive of capital from the general partner and its affiliates. KAREP V, which was substantially oversubscribed, is Kayne Anderson’s largest to date and includes capital commitments from a diverse group of investors, it said.