Fund Formation

Representative Matters

  • Provided support to a fund sponsor in connection with the formation of a $600 million private REIT with an umbrella partnership (UPREIT), formed for the purpose of acquiring commercial office buildings in the Southeast region of the United States. This matter included significant U.S. tax planning for foreign investors and large pension funds.

  • Counseled a registered investment advisor in connection with a series of real estate equity funds totaling $550 million, formed for the purpose of investing in mineral assets, wetlands and conservation mitigation banks.

  • Advised a life insurance company in its management of a series of affiliated real estate funds in its investments in third-party funds - so-called "fund-to-fund investments". Each fund under management had committed capital in excess of $500 million, and the company's twenty-plus "fund-to-fund" investments aggregated in excess of $1 billion.

  • Advised an institutional real estate company in the formation of two real estate equity funds totaling $1 billion, established for the purpose of making an investment in general real estate asset classes, timber and energy assets.

  • Advised an institutional sponsor with a $500 million real estate private equity fund in its debt and equity investments in general real estate asset classes. whether through joint ventures, fund-to-fund investment or direct investment.

  • Counseled an international investment firm in connection with the formation of a $150 million real estate fund, established for the purpose of allowing foreign investors to pursue opportunistic real estate investments in the United States. 

  • Assisted an institutional client in structuring and forming a fund to invest $1 billion in U.S. commercial real estate.

  • Represented a Fortune 500 telecommunications company in several of its strategic fund investments, to support the development and implementation of its own technology.

  • Represented a venture capital firm in the formation of multiple primary and co-investment funds with approximately $1.5 billion in capital commitments to make preferred equity investments in biotechnology companies. 

  • Represented a venture capital fund and co-investors in a Series A investment into an early stage medical device company. 

  • Represented fund sponsor in connection with formation of a $600 million private REIT with an umbrella partnership (UPREIT) formed for the purpose of acquiring commercial office buildings in the Southeast region of the United States. This matter included significant U.S. tax planning for foreign investors and large pension funds.

  • Represented institutional real estate company in formation of two real estate equity funds aggregating $1 billion formed for the purpose of making investment, whether on a direct or co-mingled fund-to-fund basis, in general real estate asset classes and timber and energy real estate related assets. In connection with this matter, we undertook extensive tax planning to create a parallel fund structure designed to minimize U.S. tax costs to foreign investors.  

  • Represented international investment firm in connection with the formation of a $150 million real estate fund formed for the purpose of allowing foreign investors to pursue opportunistic real estate investments in the United States.  

  • Represented numerous local and national real estate sponsors and developers in connection with equity offerings aggregating in excess of $500 million for commercial real estate development in and around Chicago metropolitan area.

  • Represented registered investment advisor in connection with a series of real estate equity funds aggregating $550 million formed for the purpose of investing in timber assets and wetlands and conservation mitigation banks. We addressed unique tax matters for tax exempt investors with respect to the creation of parallel funds and alternative investment vehicles for foreign investors.

  • Represented series of affiliated real estate funds sponsored by institutional life company (with each fund having committed capital in excess of $500 million) in fund-to-fund investments in third party real estate funds. Aggregate investment by client exceeds $500 million in various third party funds ranging in size of $200 million to $1 billion (+). Majority of investment by client funds was as lead investor and favorable investment terms and protective provisions were obtained on behalf of client in each of these fund investments.  Funds into which client invested include funds sponsored by, among others, Apollo Real Estate Advisors, (now Ares Management, LLC); MassMutual/Babson Capital; Aslan Realty Partners (Pearlmark Real Estate Partners, f/k/a Transwestern); Deseret Realty Advisors (Mormon Church); Legacy Partners Realty Fund; Buchanan Funds; O’Connor Real Estate Funds; Alliance Real Estate Partners; and Blue Vista Capital Management.

  • Represented several angel investor groups and incubators/accelerators in their investments and their transition to "fund"-based investment strategies, ranging in size from $500,000 to over $25 million.

  • Represented sponsors of and investors in non-real estate funds, including The Column Group (Sponsor - Venture Funds - $1 billion(+) AUM) , Hudson Clean Energy Partners (Sponsor -  Alternative Energy Fund ($500 million(+)), Macquarie Global Opportunity Partners and Macquarie Advanced Investment Partners (Sponsors - Global Private Equity Funds - $500 million(+), Pfingsten Partners (Sponsor – Growth Capital/Buyout Fund - $250 million), Edgewater Funds (Sponsor - Growth Capital/Buyout Fund - $250 million(+)), Merit Capital Partners / Merit Mezzanine Fund (Sponsor - Mezzanine/Growth Capital - $200 million(+)), Waud Capital Partners (Sponsor – Buyout - $200 million(+)), and Flexpoint Ford Fund (Sponsor – Buyout Fund - $200 million(+)), and Altus Power Funds (Sponsor – Solar Energy Fund - $125 million).