Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 2

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 2
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8% and 4.9%, respectively).

1

Table of Contents

Investment Approach

The following is our investment approach: 

•Identify markets with an attractive investment landscape and the potential for growth

•Establish operating platforms in our target markets

•Develop local intelligence and create and maintain long-lasting relationships, primarily with financial institutions and the brokerage community

•Leverage relationships and local knowledge to drive proprietary investment opportunities with a focus on off-market transactions that we expect will result in above average cash flows and returns over the long term

•Acquire high quality assets, primarily through our investment management platform with strategic partners and funds that we manage

•Reposition assets to enhance cash flows post-acquisition

•Explore development opportunities or acquire development assets that fit within our overall investment strategy

•Continuously evaluate and selectively harvest asset and entity value through strategic realizations using both the public and private markets

In order to help the user of the financial statements understand our company, we have included certain five-year selected financial data.  The table below highlights some of the Company's key metrics over the past five years:

Year Ended December 31,($ in millions, except fee bearing capital which $ in billions)20242023202220212020GAAPRevenue$531.4 $562.6 $540.0 $453.6 $454.0 Net (loss) income to Kennedy-Wilson Holdings Inc. common shareholders(76.5)(341.8)64.8 313.2 92.9 Basic (loss) income per share of common stock(0.56)(2.46)0.47 2.26 0.66 Diluted (loss) earnings per share of common stock(0.56)(2.46)0.47 2.24 0.66 Non-GAAP(1)Adjusted EBITDA(1)539.7189.8591.5927.9608.0% change184.4 %(67.9)%(36.3)%52.6 %— %Adjusted Net Income (Loss)(1)94.3 (151.3)264.9 509.0 306.9 Adjusted Net Income (Loss) percentage change162.3 %(157.1)%(48.0)%65.9 %— %Non-cash fair value (losses) gains(6.3)(229.3)114.621