Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 177

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 177
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 value as of the reporting date.  The Company’s investment balance in the Funds was $96.7 million and $133.1 million at December 31, 2024 and 2023, respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. In estimating fair value of real estate held by the Funds and the 72 FV Option investments, the Company considers significant unobservable inputs to be the capitalization and discount rates. The following table summarizes the Company's investments in unconsolidated investments held at fair value by type:(Dollars in millions)December 31, 2024December 31, 2023FV Option$1,787.7 $1,793.9 Funds96.7 133.1 Total$1,884.4 $1,927.0 The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option, for the years ended December 31:(Dollars in millions)202420232022Beginning balance$1,927.0 $2,093.7 $1,794.8 Unrealized and realized gains, including carried interests142.2 111.5 274.4 Unrealized and realized losses(178.1)(377.4)(114.1)Contributions105.3 168.8 348.1 Distributions(97.2)(143.9)(188.9)Foreign exchange(29.8)25.0 (55.8)Other15.0 49.3 35.2 Ending balance$1,884.4 $1,927.0 $2,093.7  The Other balance for the year ended December 31, 2024 relates to the non-cash transfer of one consolidated multifamily property into VHH. The Other balance for the year ended December 31, 2023 primarily consists of non-cash contributions relating to two recapitalized multifamily investments into a separate account platform and one multifamily property into VHH. The Other balance for the year ended December 31, 2022 includes $31.9 million related to the sale of a 49% ownership interest in multifamily asset located in the Western United States. As the increase in unconsolidated investments was due to a non-cash movement the amounts are reflected in Other above. See