Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 222

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 8
Chunk 222
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 $5,181 Privately held preferred stocks6,010 6,010 Total equity securities$11,145 $11,191 All privately held securities held at June 30, 2025 are subject to contractual sale restrictions. Each of these investments are subject to agreements that restrict the transfer, sale, and indemnification of these privately held investments indefinitely. The Company must hold these shares indefinitely unless the investee's shares are registered with the SEC and qualified by state authorities, or until an exemption from such registration and qualification requirements may become available.   Fair Value Remaining duration of restrictionsNature of contractual sale restrictionsCircumstances that could cause a lapse in restrictionsPrivately held common stocks$5,181 IndefiniteThe Purchaser must hold the restricted shares indefinitely Registration of securities with the SEC or if exemption is availablePrivately held preferred stocks6,010 IndefiniteThe Purchaser must hold the restricted shares indefinitelyRegistration of securities with the SEC or if exemption is availableTotal equity securities subject to contractual sale restrictions$11,191  

 24

KESTREL GROUP LTD NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)(in thousands of U.S. dollars, except share and per share data)

4. Investments (continued)Equity Method InvestmentsThe equity method investments currently include real estate investments accounted for under the equity method and other investments measured at fair value. The table below shows the total value of the Company's equity method investments as of June 30, 2025 including those classified as other investments under the fair value option:June 30,2025Carrying Value% of TotalReal estate investments at equity method$33,173 31.2 %Total equity method investments accounted for under the Equity Method33,173 31.2 %Real estate investments at fair value option elected46,000 43.3 %Other equity method investments at fair value option elected27,019 25.5 %Total equity method investments with fair value option (included in Other Investments)73,019 68.8 %Total equity method investments$106,192 100.0 %The equity method investments above include limited partnerships which are variable interests issued by variable interest entities ("VIEs"). The Company is not the primary beneficiary of these VIEs as it does not have the power to direct the activities that are most significant to the economic performance of these VIEs. The Company is deemed to have