Real Estate Select Trust Fund Class U 

This specialized, closed-end investment fund, managed by KKR and structured as a Real Estate Investment Trust (REIT), maintains a focused portfolio rather than a broadly diversified one. Its primary investment strategy dictates that at least 80% of its assets are committed to stable, revenue-producing commercial real estate, often encompassing properties with a single tenant. The fund also allocates capital to private real estate ventures through debt instruments and preferred equity stakes. Investors purchasing Class U shares should expect to incur an upfront sales charge, typically paid as a commission to their financial advisor.