Company: KG
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0002055116-25-000018
Chunk: 223

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 10-Q
Item: Item 8
Chunk 223
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 limited influence over the operating and financial policies of the investee and accordingly, these investments are reported under the equity method of accounting. In applying the equity method of accounting, the investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of the investee's net income or loss. Generally, the maximum exposure to loss on these interests is limited to the amount of commitment made by the Company as more fully described in "Note 11 - Commitments, Contingencies and Guarantees" in these condensed consolidated financial statements.ASC 825-10: Financial Instruments provides a measurement basis election for most financial instruments using a choice of either historical cost or fair value, including equity method investments, allowing reporting entities to mitigate potential mismatches that arise under the current mixed measurement attribute model. As a result of the Combination on May 27, 2025, the assets and liabilities of Maiden were recorded at their fair values measured as of the acquisition date. The Company has elected the fair value option for certain of its equity method investments, and these investments are reported at their fair values as of June 30, 2025.The table below shows the carrying/fair values and beneficial ownership percentage of the Company's equity method investments, including those measured using the fair value option and reported in other investments, as of June 30, 2025, the summarized financial data of each equity method investment for the six months ended June 30, 2025 and the Company's realized and unrealized gains (losses) on these investments for the three and six months ended June 30, 2025: June 30, 2025For the Six Months Ended June 30, 2025For the Three and Six Months Ended June 30, 2025Carrying ValueBeneficial Ownership Investee Revenue(1)Investee net income (loss)(1)Realized and unrealized gains (losses)(2)Silverstone Venture 1$3,729 90.0 %$1,227 $605 $53 Silverstone Venture 24,094 86.8 %69 66 (264)Silverstone Venture 319,196 70.2 %— (3)336 Extell Hudson Waterfront Holdings46,000 25.0 %588 320 — Seiden LP & Seiden MGMT LP(3)33,173 99.9 %172 (89)— Total equity method