Contact Information: Contact: King & Spalding Kimberly Brooks +1 212 827 4378 kbrooks@ksalw.com
King & Spalding Advises Al Rajhi Capital and Arcapita Bank in the Formation of a $500 Million Real Estate Income Fund
| Source: King & Spalding
RIYADH, SAUDI ARABIA--(Marketwire - March 1, 2010) - King & Spalding, a leading
international law firm, announced today that it advised Al Rajhi Capital
and Arcapita Bank B.S.C.(c) in the formation of the ARC Real Estate Income
Fund, a Shari'ah-compliant real estate investment fund registered with the
Saudi Arabian Capital Markets Authority and targeting USD 500 million in
commitments. The fund will focus on income-generating properties in Saudi
Arabia and the Arabian Gulf region, including logistics warehouses,
healthcare centers and education-related assets.
For more information on the fund and its formation, go to
http://www.arcapita.com/media/press_releases/2010/02-22-10.html.
The King & Spalding legal team involved in the transaction was led by
Dubai-based partner Benjamin R. Newland and partner Nabil A. Issa of the
firm's Dubai and Riyadh offices and also consisted of counsel Matthew H.
Dallimore and associate James R. Stull of the firm's Dubai office and
Riyadh-based counsel Mohammad Al-Ammar.
Al Rajhi Capital is the investment banking subsidiary of Saudi Arabia's Al
Rajhi Bank, one of the largest commercial banks in Saudi Arabia and the
largest Islamic banking institution globally. Arcapita Bank B.S.C.(c) is an
international Shari'ah-compliant investment firm headquartered in Bahrain.
About King & Spalding
Celebrating 125 years of service, King & Spalding is an international law
firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte,
Dubai, Frankfurt, Houston, London, New York, Paris, Riyadh (affiliated
office), San Francisco, Silicon Valley and Washington, D.C. The firm
represents half of the Fortune 100 and, according to a Corporate Counsel
survey in August 2009, ranks fifth in its total number of representations
of those companies. For additional information, visit www.kslaw.com.