Paul Hastings Advises China Everbright On Joint Venture to Establish New Infrastructure Fund
Hong Kong (August 26, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised China Everbright Ltd. (China Everbright), a Hong Kong listed company which provides financial services in Greater China, on a joint venture with Macquarie Group Capital Limited (Macquarie) to establish new funds set up to acquire and invest in infrastructure assets in Greater China.
The new joint venture consists of both domestic and international funds seeking to raise US$1.5 billion. The first fund will target offshore non-retail investors interested in buying into the toll road, airport, renewable energy, water and waste, port and rail sectors. The second fund will be a domestic vehicle targeting renminbi investors. Each of the funds will have similar mandates and will be managed jointly by China Everbright and Macquarie.
Vivian Lam, a partner in the Hong Kong office of Paul Hastings, commented: We are delighted to have advised China Everbright on its joint venture with Macquarie to establish these new infrastructure funds. This joint venture highlights the current opportunities for international and domestic investors in infrastructure projects in China. We are very pleased to have been able to help our clients take advantage of these opportunities
The Paul Hastings team was led by Raymond Li and Vivian Lam, assisted by Jenny Lau.
About China Everbright: China Everbright is a financial services company engaged in asset management, direct investment, brokerage and investment banking in the Greater China region, including Mainland China and Hong Kong.
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