Paul Hastings Advises Doran Capital on Its First Korea Real Estate Private Equity Fund
Hong Kong (March 12, 2007) - Paul, Hastings, Janofsky & Walker (Paul Hastings), a leading international law firm, represented Triseas KOREA PROPERTY FUND, L.P. in the formation of a US$250 million private equity fund targeting the Korean real estate market. This fund is the first in a series of funds being launched by Doran Capital Partners, a global fund and asset manager.
"With country specific funds gaining in popularity, there is great need for cross-border one-stop-shop legal services", said John A. Cahill, a partner in the firm's Corporate Department. "We are very pleased to have advised the Triseas fund on issues to its success."
Triseas recently closed a large subscription credit facility from Morgan Stanley to greatly enhance the funds flexibility in acquiring assets for the Korea fund. Triseas closed its initial round of equity in December with over $125 million in equity. The fund has investor commitments of over $200 million with a limit of $250 million in total equity. With gearing at the property level, the fund will be able to invest approximately $700 million.
The Paul Hastings global team was led by partner John A. Cahill and included partners Justin Hamer, Neil Torpey, Joshua Sternoff and associates David Steinberg, Jonathan Shenkman and Marisa Corvisiero.
Paul Hastings Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,100 lawyers in 18 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.