Ashurst is advising Lazard & Co., Limited in relation to the €260 million recommended cash offer for Taliesin Property Fund Limited by Wren Bidco Limited and Canary Bidco Limited (newly formed companies owned by entities advised by affiliates of The Blackstone Group L.P. as part of Blackstone's newly formed pan-European Core+ unit). 

Taliesin is principally engaged in selective investing in primarily residential property in Berlin, Dresden and Potsdam with its operations focused on management of properties held for rent and privatisation. Taliesin's investment properties consist of 62 multi-tenant buildings with a total of more than 1,500 rental units. The Blackstone Real Estate group was established in 1991 and is the largest private equity real estate investment manager in the world today with over $111 billion of investor capital under management through its opportunistic, core+, and debt strategy businesses.

Lazard is acting as financial adviser to Blackstone in relation to the offer.

The Ashurst team comprised corporate partner Karen Davies and solicitor Jake Hadfield.