Morrison & Foerster has represented an affiliate of Global Logistic Properties Limited, Asia’s largest provider of modern logistics facilities, in the formation of the world’s largest China-focused logistics infrastructure fund. The fund has been formed for the primary purpose of developing, owning and managing a diversified portfolio of institutional quality logistics facilities within target markets in the People’s Republic of China.
The deal team was led by Eric Piesner, Ken Muller and Marcia Ellis with assistance from real estate, fund formation, corporate and tax lawyers in Morrison & Foerster’s Singapore, Hong Kong, San Francisco and New York offices.
Investors have committed $1.5 billion in equity to the fund, with leverage allowing for an investment capacity of over $3 billion over three years. Six leading global institutions are investing alongside the company, with Global Logistic Properties retaining a 56 percent stake in the fund.
Global Logistic Properties is a longstanding Morrison & Foerster client. The firm previously represented Global Logistic Properties in its $1.6 billion joint venture with China Investment Corporation for the acquisition of 15 logistics properties in Japan. The firm also represented Global Logistic Properties in its $1.4 billion joint ventures with Canada Pension Plan Investment Board, China Investment Corporation and the Government of Singapore Investment Corporation for the acquisition of 40 logistics properties in Brazil. This market-leading Brazil transaction was honored at the 2012 Global PERE Awards as Global Deal of the Year.
Morrison & Foerster is recognized for its leading fund formation experience. Lawyers in California, New York, Singapore, Hong Kong and Tokyo have been at the forefront in representing fund sponsors and institutional investors in the formation of private equity, real estate, infrastructure, energy, buyout, growth equity, venture capital and other types of investment funds. Morrison & Foerster is also one of very few international law firms with a dedicated real estate team in China, which offers clients advisory and transactional services in connection with all aspects of real estate matters in China, Hong Kong, Macau and greater Asia. In addition, Morrison & Foerster is very active in all aspects of the evolving private equity and M&A markets in China and combines senior PRC regulatory expertise with international deal execution capability to successfully achieve clients’ business goals. The firm’s China M&A practice ranks as one of “The Elite” in Corporate/ M&A among international firms by Chambers Asia Pacific 2013.