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Kennedy Wilson Raises $500M for Fund V

LOS ANGELES—The investor closes fundraising of the Kennedy Wilson Real Estate Fund V with $500 million in global capital commitments, including $60 million of its own funds.

By Kelsi Maree Borland | kelsimareeborland | | Updated on February 26, 2016
Los Angeles Kennedy Wilson is based in Los Angeles.
LOS ANGELES— Kennedy Wilson has raised $500 million in capital commitments for its Kennedy Wilson Real Estate Fund V, a value-add investment vehicle . The fund includes contributions from investors around the globe, primarily comprised of public and corporate pension funds and several Fortune 500 companies, as well as $60 million of Kennedy Wilson’s own capital, making them the fund’s largest single investor. “The capital raise met our expectations,” Christina Cha , VP of corporate communication at Kennedy Wilson, tells GlobeSt.com. Our limited partnerships are mostly S&P 500 companies and household names located in the U.S., Europe and the Middle East. Our investor re-up was 53%.” Like the investor’s previous funds, this fund will continue to have a flexible mandate that will allow for value-add investment across product types, including multifamily, office, retail and residential properties. “The fund will target value-add opportunities in all asset classes located in our core West Coast U.S. markets,” adds Cha. “Kennedy Wilson’s proven strength is in our ability to locate properties with upside potential in areas with high barriers to entry.” While fundraising has only just ended, the fund has already closed on nine properties totaling $365 million, deploying $140 million in equity from the fund. The nine-property portfolio is an amalgam of multifamily, office, retail and residential. This is Kennedy Wilson’s largest co-mingled fund raise.  

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