Paul Hastings LLP, a leading global law firm, announced today that the firm represented Real Estate Capital Asia Partners III and its investment manager, SC Capital Partners, in the formation of a $530 million fund that will focus on real estate investment opportunities in Asia. The fund held its final closing on August 13, 2012, raising capital from a diverse institutional investor base including, among others, public and private pension funds, funds of funds, endowments, and private foundations. Paul Hastings also represented the fund in establishing a $50 million subscription line credit facility.
The fund was formed to acquire a portfolio of pan-Asian real estate and real estate-related investments through a disciplined investment approach focused on undervalued, undermanaged and distressed situations. SC Capital Partners is a private equity real estate investment firm headquartered in Singapore, founded by Suchad Chiaranussati in 2004.
Paul Hastings previously worked with SC Capital Partners in the formation of Real Estate Capital Asia Partners II L.P., a $190.3 million fund which has been recognized one of the top performing real estate funds formed in the 2008 vintage year.
Lawrence Hass, the global head of Paul Hastings’ Private Investment Fund Practice Group, led the firm’s efforts on the formation of the fund, aided by Tax partner Andrew Short and associates Joseph Reiss andDavid Makso, and by Corporate partner Thomas Rao in establishing the subscription line credit facility.
