Eight Diamonds Advisors
Special situations, event-driven, contrarian, research analyst

Kennedy-Wilson: European Venture Should Shine A Spotlight On Its Own Significant Upside Potential

Investment thesis

We believe that Kennedy-Wilson Holdings' (NYSE:KW) investments are valued by the market well below their fair market value. KW has a long and proven track-record of selling assets at a significant premium to their book value as reported in its accounts at cost less depreciation.

We see the recent IPO of Kennedy-Wilson Europe Real Estate Plc (KWE), referred to as the European venture above, as a key catalyst to help unlock this value. It should essentially showcase to the investment community, in a very transparent and public way, how KW's investment process works and how much value KW creates for its shareholders.

KW's SOTPs valuation implies a share price 27.9% higher than its recent share price....

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