Insights

News / 06 November 2014

Crestbridge extends specialist services to landmark property fund

landmark property fund

The Kennedy Wilson Europe Real Estate Fund (“Kennedy Wilson Europe” or the “Fund”), a Jersey-domiciled fund which raised £1 billion at its initial public offering on the LSE in February this year and was the second largest real estate IPO in LSE history. Having invested all of the initial £1 billion IPO proceeds, the Fund recently completed a further £350 million fund raising for newly identified real estate and real estate loan investment opportunities across Europe, including in the UK, Ireland, Spain and Italy.

As part of the new fundraising, Crestbridge extended the services it already provided to the Fund to offer enhanced administrative support, including the provision of company secretarial services and board directors. In particular, Crestbridge supported the production of the Kennedy Wilson Europe’s Financial Provisions and Prospects (FPP) report, arranged and facilitated necessary board meetings, and assisted with the necessary LSE reporting obligations.

Kennedy Wilson Europe’s property portfolios currently comprise 79 assets totalling about 6.4 million square feet with a market value of about £1.04 billion.

Graeme McArthur, CEO, Crestbridge, commented:

“It’s been an incredibly successful year for Crestbridge, and beginning to work with Kennedy Wilson on such a landmark real estate fund, providing it with a full range of administration, director and reporting services, has been a big part of that. With the second fundraising now complete, we are looking forward to continuing to partner with Kennedy Wilson and ensure the fund receives the ongoing specialist support it needs.”

“That such a significant property fund has been domiciled in Jersey is testament to the flexibility of the jurisdiction’s funds regime, its quick approval processes, its ability to offer opt-in and opt-out AIFMD options and the in-depth understanding there is in Jersey of listed structures and the real estate asset class.”

Crestbridge offers a range of fund, real estate, corporate, capital markets and family office services. The firm has a 16 year pedigree in financial services administering assets across multi-jurisdictional structures and supporting a broad range of blue chip corporate and institutional clients.