Paul Hastings Advises Tan-Eu Capital in Closing of US$400 Million Real Estate Private Equity Vehicle
First-time fund shapes new way of raising capital for real estate investments
Hong Kong (March 25, 2011) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Tan-Eu Capital (Tan-Eu Capital), a company which manages funds and joint ventures in partnership with the most prestigious and reputable local partners in Asia, as co-sponsor in the closing of Sotan China Real Estate I, LP (the Partnership), a real estate private equity vehicle. Tan-Eu Capital co-sponsored the Partnership with Shui On Construction and Materials (SOCAM).
The Partnership is comprised of a club of prestigious European institutional investors with a joint venture between an affiliate of SOCAM and an affiliate of Tan-Eu Capital acting as the general partner. The Partnership will co-invest with SOCAM on transactions, resulting in equity available for investment of approximately US$400 million.
The funds from the Partnership and SOCAM will be used to co-invest in special situation real estate projects in select second-tier cities throughout China. Tan-Eu Capital will act as the fund manager whilst an affiliate of SOCAM will act as the asset manager.
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