Kennedy Wilson has been chosen as the preferred bidder to acquire the £750M private rented sector portfolio of Notting Hill Genesis, Green Street News reports.

Kennedy Wilson fought off competition from Adira Capital and Hayfin and housing association Hyde Group in the final round of bidding.

Blackstone, Apache Capital, LRC Group and a joint venture between Ridgeback and Morgan Stanley were all among the early bidders for Project Vanguard, a portfolio of London assets being sold by Notting Hill Genesis.

Project Vanguard consists of 15 buildings, all of which are in the London and Chelmsford areas. The portfolio has 2,079 apartments, and the buildings are a mixture of freeholds and leaseholds.

The housing association had been seeking to offload its portfolio as it aims to recycle capital into its core operation. The organisation is expected to use the proceeds to bring down debt, increase investment in its existing estate, and accelerate delivery of new affordable homes across London.

Almost fully let, the portfolio is operated by the housing association’s specialist PRS division, Folio. Deloitte was appointed to sell Vanguard in July 2025 following a strategic review, while CBRE is advising Kennedy Wilson. All parties declined to comment.

Kennedy Wilson has been highly active in the UK residential sector, across different formats. In May, its UK single-family rental joint venture with the Canada Pension Plan Investment Board exchanged contracts on 788 single-family rental units for £300M across 10 transactions.

The SFR units are located across 10 development sites in Northampton, Nottingham, Hemel Hempstead, Watford, Wokingham, Bristol, Cheltenham and Didcot. They were acquired from existing partners, including Barratt Redrow, Miller Homes and Wavensmere, alongside new partners Persimmon Homes, Taylor Wimpey and a joint venture of Kier Property and Vistry.

Since the CPP-Kennedy Wilson JV was announced in October 2024, approximately £700M has been committed to the platform, with CPP Investments putting up £500M of equity and Kennedy Wilson acting as operating partner, growing the JV to 2,000 units across 23 sites, with a target size of 4,500 units.