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PATRIZIA and Mitsui cement next joint venture
Global law firm DLA Piper has advised a joint venture between PATRIZIA and Mitsui related to the launch of the pair’s new APAC Sustainable Infrastructure Fund.
Emma Musgrave
Firm: DLA Piper (PATRIZIA and Mitsui)
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Deal: PATRIZIA and Mitsui have entered a joint venture for the launch of their new APAC Sustainable Infrastructure Fund.
Value: US$110 million of equity at first close
Area: Corporate
Key players: The DLA Piper team was led by corporate partner Emma Kendall, with support from corporate special counsel Matthew Parkinson.
The DLA Piper team collaborated with Andrea Ng and Catherine Lim at Shook Lin in Singapore and Tania Toh and Michelle Ong at Walkers in the Cayman Islands.
Deal significance: According to a statement from DLA Piper, the fund will primarily focus on mid-market opportunities in the four core sectors of energy, digital, social, and mobility. Target assets include solar and wind farms, data centres, sea cables, healthcare and education facilities, and EV charging stations, it said.
“With a target size of US$500 million to US$1 billion, the fund will invest in the energy, digital, social and mobility sectors across key developed markets across APAC, including Australia, Japan, Singapore, South Korea, New Zealand and Taiwan, as well as in select developing Asian markets,” DLA Piper’s statement added.
Commenting further, lead partner on the deal Emma Kendall said: “This is the second fund from the PATRIZIA-Mitsui collaboration, following the success of their Emerging Market Infrastructure Fund (EMIF), and is testament to their commitment to the region,” Ms Kendall said.
“We were pleased to advise a client which is leading on ESG funds management. Increasingly we see more requests from clients for advice, wherever they are on their ESG journey.”
