CDS king Prem Watsa thinks the ‘time is right’ for commercial real estate
Fairfax Holdings CEO Prem Watsa, who raked in $2.5bn betting against credit default swaps (CDS) at the height of the financial crisis, has started investing in US commercial real estate.
Fairfax is injecting a relatively modest $100mn into California-headquartered commercial real estate business Kennedy Wilson, as the investment guru dips his toe in the market following the property sector's travails of the last two years.
The investment has been made in the form of convertible preferred stock that will carry...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
