Fundraising - FEBRUARY 24, 2016

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Kennedy Wilson raises $500m for U.S. real estate fund

by Andrea Waitrovich

Kennedy Wilson has announced the final close for its Kennedy Wilson Real Estate Fund V, raising $500 million of capital commitments.

“Fund V marks the largest U.S. commingled fund raise in our history and represents an important milestone for our fund management business,” said William McMorrow, chairman and CEO of Kennedy Wilson, in a statement.

The U.S. value-added, closed-end fund received strong interest from new and existing investors, primarily public and corporate pension funds, including numerous Fortune 500 companies, with an investor base that spans the United States, Europe and the Middle East. It also received a $60 million commitment from Kennedy Wilson.

Fund V invests across various property types, including office, retail and residential properties and will focus on Kennedy Wilson’s core West Coast markets. Fund V has a current portfolio of nine office, retail and residential assets with an aggregate purchase price of

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