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Kennedy Wilson - Private Placement


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At our pre-Fairfax dinner this year, we all had the opportunity to talk with William McMorrow, CEO of Kennedy Wilson.  As such, they have been on a somewhat spending spree this year and Fairfax just increased their position in a private placement.







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KW has been exceptionally busy of late.  Additional equity will probably be put to work without delay.


$56.4M multifamily financing



BoI Real Estate Investment Mgmt biz



$145M multifamily asset acquired


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James, Could you refresh my memory.  FFH has not been an owner of KW until this point.  But they have a major joint venture with KW.  A.


This is the first time they have bought common shares (400,000 at 10.7 ORH).


Pref A 6% 100 mln ~ 8 mln shares @ 12.41

Pref B 6.5% 32. 5mln ~3 mln shares @ 10.7

totals about ~20% before the new equity raise


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