Kennedy Wilson Raises Capital in London to Invest in Spain

17/02/2014 – Expansion

Deutsche Bank and Merrill Lynch are named to sell to investors the 75 million assets of Kennedy Wilson Europe Real Estate (newly set up), for amount of £750 million (around €900 million).

The placement is backed by a group of 12 funds´promise to raise a huge part of capital. ACK Asset Management, Elkhorn Partners, Fairfax, Fidelity, Franklin Advisers, Janus Capital, LeFrak Merchant, Marketfield, Moore Capital, Quantum Partners, Seawolf Capital and Wellington Management foresee to invest about £530 million in the new investment vehicle. (…).

The new company could receive a purchasing power of several million Euros, according to analysts.

The firm will mainly invest in the real estate sector, specifically loans all over Europe, starting from the Great Britain, through Ireland and Spain and then depending on emerging opportunities in other countries. To begin with, it has already acquired a portolio of offices, industrial plants and commercial property in the United Kingdom for £223 million.

Kennedy Wilson Europe Real Estate will seek transactions that would bring it at least 15% profitability. (…).

In Spain, Kennedy Wilson together with Värde Partners bought a collection management platform from Banco Popular for €815 million last year. (…).


Original article: Expansión (R. Casado)

Translation: AURA REE