KKR & Co. is launching a single-family management company, My Community Homes, to purchase and manage rental homes across the US, according to Bloomberg.

While KKR wouldn't provide comment to Bloomberg, the media outlet learned that the company is using its real estate and private credit funds to invest in the platform. KKR has been flirting with the SFR space, having previously backed Home Partners of America, which Blackstone just acquired for around $6 billion. Home Partners buys and rents out single-family homes, giving tenants a chance to buy the property. It has a portfolio of more than 17,000 houses throughout the US. 

These investments are the latest illustration of the strength of the SFR asset class, which is now on par with the multifamily sector in terms of investor interest and fundamentals. Walker & Dunlop estimates the SFR market to be valued at around $3.4 trillion—a staggering number when compared to the more established multifamily market, which is estimated at $3.5 trillion.