TORONTO – Fairfax Financial Holdings Ltd. says it’s providing up to US$1.65 billion in funding as part of a consortium taking a U.S.-based real estate investment company private.
Toronto-based Fairfax says the definitive agreement with Kennedy-Wilson Holdings Inc. will see the real estate firm acquired in an all-cash transaction by a consortium led by William McMorrow, chief executive of Kennedy-Wilson.
Fairfax is also part of the consortium along with certain other senior executives of Kennedy-Wilson.
Terms of the deal has the consortium paying US$10.90 per share, a 46 per cent premium to its Nov. 4 level before a potential deal was disclosed.
Once the deal closes, Fairfax is expected to have a majority economic interest in the company, while the KW Management Group, led by McMorrow, will have effective and operational control.
California-based Kennedy-Wilson has US$31 billion in assets under management including both rental housing and industrial properties.
This report by The Canadian Press was first published Feb. 17, 2026.
Companies in this story: (TSX:FFH)
