BEVERLY HILLS, CA-Guardian Life Insurance Co. of America has invested $30 million for its second equity stake in locally based Kennedy Wilson in the past several weeks. The New York City-based life insurance firm previously invested $23.25 million in a Kennedy Wilson apartment acquisition in San Jose, CA.

The announcement by the two firms describes Guardian’s investment as “a major interest in the real estate services and investment firm of Kennedy Wilson.” Guardian purchased $30 million of convertible subordinated debt in Kennedy Wilson that, when converted, provides Guardian a 10% interest in the Beverly Hills-based company. Kennedy Wilson’s management retains a 54.1% ownership.

Earlier this year, Kennedy Wilson raised $53 million in new equity through the issuance of convertible preferred shares. Among those investing in the previous offering were the LeFrak Organization, a major real estate, energy and investment company based in New York City. Another significant investor in the previous offering was the Royce Funds of New York City.

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