Kennedy Wilson Completes Fourth U.S. FundWednesday, June 19, 2013
Kennedy Wilson on Wednesday said it has completed fundraising for its fourth U.S. real estate investment fund, with total capital commitments of $303 million.
The Beverly Hills real estate investment and services firm said that the company itself had put $15 million into Kennedy Wilson Real Estate Fund IV. Other investors came from the United States, Europe and the Middle East. They included pension funds, university endowments and family offices.
Since launching in mid-2011, Fund IV has taken stakes in 26 multifamily, office, retail and residential properties in the Western United States, with a total purchase price of more than $1 billion, Kennedy Wilson said.
The company also has investments the United Kingdom, Ireland and Japan
Shares closed down 28 cents, or 1.5 percent, to $17.41 on the New York Stock Exchange.