Ping An Raises RMB Fund to Invest in U.S. Real Estate
Paul Hastings represented Ping An, a leading personal financial services group in China, in raising a Chinese RMB fund and forming two joint ventures with Pacific Eagle (US) Real Estate Fund, L.P. for the development of two U.S. residential real estate projects in San Francisco and Malibu, California. Pacific Eagle (US) Real Estate Fund, L.P., Ping An’s joint venture partner, is a private equity fund co-sponsored by Great Eagle Holdings Limited, a leading Hong Kong property company with a long-term track-record in the U.S.