Kennedy Wilson raises €444m for investment spree

London-listed Kennedy Wilson Europe Real Estate has raised around £351.5 mln (€444 mln) in gross proceeds from a new share issue.

The proceeds will be used to fund future investments in real estate assets and loans in line with the company’s strategy.

‘This successful offering represents a further milestone for the company. We now look forward to capitalising on market conditions and our extensive pipeline of opportunities to invest the proceeds from the transaction as part of our strategy to deliver strong capital returns and sustainable earnings for our shareholders,’ said Kennedy Wilson Europe CEO Mary Ricks.

KW Europe raised €1.1 bn in February this year from its initial public offering on the London Stock Exchange.

At the time, the company said it would target real estate and real estate loans in Europe, initially in the UK, Ireland and Spain, followed by other European countries on an opportunistic basis.

Kennedy Wilson Europe was established in 2011. At end-December 2013 the company had £2.5 bn of assets under management in Europe. Its parent company, Kennedy Wilson, is a California-based diversified international real estate investment and services firm, with £8.5 bn of real estate and real estate-related assets under management.