Fairfax picks Kennedy Wilson to spend €250m in Europe

Canadian group Fairfax Financial has given US property firm Kennedy Wilson a €250m non – discretionary mandate to invest in European debt and direct assets. The companies have a US partnership, where Kennedy Wilson has invested $278m.

The new partnership will first target the UK and Ireland and Kennedy Wilson will make a 10% co-investment. Kennedy Wilson entered the European debt market last year, buying a $1.8bn debt portfolio from Bank of Ireland. It has 13 people in London. Ian Goldsworthy joined the team from HSBC in January and Colm McCarthy and Ben Hartley last month.