KKR and Sino-Ocean Land partner up on property fund
October 12, 2011 | BY
clpstaff &clp articlesPRC property developer, Sino-Ocean Land Holdings (Sino-Ocean Land) and its subsidiary Gemini Investments have established a real estate investment fund…
PRC property developer, Sino-Ocean Land Holdings (Sino-Ocean Land) and its subsidiary Gemini Investments have established a real estate investment fund (Fund) with KKR China Growth Fund (KKR). The Fund is named the Sino Prosperity Real Estate Fund and it will have a five-year term.
The Fund will be managed by a 50:50 joint venture vehicle co-owned by Sino-Ocean Land and KKR affiliates. It will explore real estate investment opportunities in China, and operate and manage real estate projects in the Mainland. Sino-Ocean Land and KKR will each make a US$70 million capital commitment into the Fund.
A Hong Kong-based Paul Hastings team, led by Raymond Li and Vivian Lam, advised Sino-Ocean Land. John Lange, a Hong Kong-based partner with Paul Weiss Rifkind Wharton & Garrison, led the team that acted for KKR.
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