Eldridge Industries to invest $300m in Kennedy Wilson.

Eldridge Industries, an investment firm, led a $300m strategic investment in Kennedy Wilson, a real estate investment company. Along with Eldridge’s equity investment, the previously announced Joint Venture platform between Security Benefit and Kennedy Wilson will increase its investment target from $500m to $1.5bn. Kennedy Wilson also expects to use the proceeds to pay down unsecured debt, including repaying its unsecured bank borrowings in full and to fund its development pipeline. “This transaction will help expedite the execution of our initiatives, including completing our development projects, while also reducing our overall leverage,” William McMorrow, Kennedy Wilson Chairman and CEO.