Fairfax Financial Holdings has agreed to invest up to US$1.65 billion in the acquisition of U.S. giant Kennedy Wilson Holdings.

Toronto-based Fairfax is participating in the take-private acquisition as part of a consortium led by an entity affiliated with KW’s senior company management. Fairfax’s proposed investment of up to US$1.65 billion would cover the full value of the all-cash transaction.

Following completion of the acquisition, Kennedy Wilson CEO William McMorrow and senior company executives, collectively known as KW Management Group, will have effective and operational control of the Beverly Hills, Calif.-based real estate investment firm. Fairfax is expected to have a majority of the economic interest in the company.

The purchase price of US$10.90 per share represents a 46% premium on the unaffected sale price of Kennedy Wilson shares as of Nov. 4, 2025, the last trading day prior to a publicly disclosed proposal to take the company private.

KW owns and manages multi-family and single-family rental housing, along with industrial and mixed-use office and retail assets, in the U.S., Ireland and U.K. The company has US$31 billion in assets under management, 40,900 multi-family units, US $10 billion in loan investments while holding a 24.6-million-square-foot industrial , retail and office portfolio.

Moelis & Company LLC is serving as financial advisor and Cravath, Swaine & Moore LLP is serving as legal advisor to the special committee of Kennedy Wilson’s board. BofA Securities, Inc. and J.P. Morgan Securities LLC are serving as financial advisors to the Consortium and Debevoise & Plimpton LLP is serving as legal advisor to the consortium. Allen Overy Shearman Sterling LLP is serving as legal advisor to Fairfax and Latham & Watkins LLP and Ropes & Gray, LLP are serving as legal advisors to Kennedy Wilson.

With files from Paul Bubney, Connectcre.com