Ogier advises Singapore sovereign wealth fund

Posted: 11/01/2021

Ogier's Jersey corporate team has advised Singapore's sovereign wealth fund, GIC, on its joint venture with New York-listed global real estate investment company Kennedy Wilson, to acquire and manage urban logistics properties in the UK. 

The venture has the potential to expand into Ireland and Spain, with a target total portfolio value of up to $1bn.

GIC will own 80% of the joint venture and Kennedy Wilson will own 20% and be responsible for the sourcing, acquisition and management of assets. The venture will be seeded with a $220m portfolio of 18 UK assets in prime locations owned by Kennedy Wilson.

The Ogier team was led by Partner Richard Daggett, alongside Managing Associate Oliver Richardson and Associate Chloe Watson-Hill. They focused on the structuring and due diligence elements of the transaction, working with Kirkland & Ellis throughout.

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