KKR & Co agreed to invest in Velero, a residential asset manager, that is focused on residential units at affordable rents. Financial terms were not disclosed. "We are delighted to set the foundation for the creation of a high-quality, diversified housing company that will benefit from the dynamics in the German real estate sector. We now look forward to expanding the platform together and further improving the quality of living for tenants and the environmental footprint of the portfolio," Jan Baumgart, KKR Head of Real Estate Germany.