Real estate investment and management firm Kennedy-Wilson Inc. said late Friday that it competed its merger with special purpose acquisition company Prospect Acquisition Corp. following approval by Prospect’s stockholders.

Kennedy-Wilson Inc., based Beverly Hills, announced in September that it would merge into the Naples, Fla. SPAC. The transaction raised $110 million in new equity for Kennedy-Wilson to invest in distressed real estate, the company said.

The company will continue to have its headquarters here and William McMorrow will continue to be chairman and chief executive officer.

The new board of directors consists of McMorrow, Cathy Hendrickson, Thomas Sorell, Jerry Solomon, Kent Mouton and Norman Creighton, who were directors of Kennedy-Wilson, and David Minella, who was the Prospect chairman and chief executive officer.

The company’s name is changing to Kennedy-Wilson Holdings Inc., and expects to continue trading its common stock and warrants on the New York Alternet under the symbols “KWIC” and “KWIC.WS”, respectively.