Kennedy Wilson and Canada Pension Plan Investment Board’s (CPP Investments) UK single-family housing (SFH) investment partnership has secured a £500m (€571m) debt facility from Goldman Sachs.
The new five-year mortgage facility will finance the joint venture’s rental housing portfolio and pipeline.
The Kennedy Wilson and CPP Investments joint venture, launched in October 2024, comprises around 1,600 units across 19 sites. The venture’s development partners include housebuilders like Barratt Redrow and Persimmon, with assets situated in high-growth hubs including Cambridge, Derby and Didcot.
Kennedy Wilson said it is progressing an active pipeline that could see the platform expand to 4,500 units once its capital is fully deployed.
Mike Pegler, president, Kennedy Wilson Europe, said: “This facility establishes a new relationship with Goldman Sachs and will be accretive to the overall returns of the portfolio, underpinning our future pipeline as we continue to scale the platform.
“We received strong demand from lenders offering favourable terms, underlining the quality of the portfolio and the attractiveness of the SFH asset class to institutional lenders.”
Tom Jackson, managing director, head of real estate Europe, CPP Investments, said: “Goldman Sachs is a long-standing relationship partner of CPP Investments and we are delighted to have them as a financing partner to our single-family residential strategy with Kennedy Wilson in the UK.
“This facility will help support our portfolio scale ambitions in the sector and deliver enhanced equity returns for CPP contributors and beneficiaries.”
Canadian fund CPP Investments holds a 90% interest in the venture, with Kennedy Wilson owning a 10% stake in the partnership.
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