Ogier in Jersey and Luxembourg have acted as legal advisors to AEW Value Investors Asia II, which recently held its final closing, having raised commitments totaling $590.2 million, including $15 million of sponsor co-investment capital.
This is AEW Capital Management's (Asia) second Asia value-add fund. The fund is a closed-ended Jersey Expert Fund structured as a limited partnership. Feeder and Parallel limited partnerships were established in Luxembourg. Investors in the fund are primarily public and corporate pension plans and insurance companies based in both the U.S. and Europe.
The fund currently has six assets in Hong Kong, Seoul, Singapore and Shanghai (representing $255 million of equity and over 937,000 square feet of office and retail assets).
In Jersey, the Ogier team was led by Partner Niamh Lalor assisted by Senior Associate Alexandra O'Grady, with the Luxembourg team being led by partner Francois Pfister. Ogier worked with Paul Hastings LLP as lead onshore counsel, with Langham Hall Jersey and Luxembourg offices filling the fund administrator and depositary roles.
Niamh Lalor said "We are delighted to be involved in this transaction and to have the opportunity to work with a fund manager of this calibre. We wish AEW all the best."