Baker & McKenzie recently advised APG Asset Management N.V.,the Dutch pension asset manager ("APG"), on its significant investment in Chongbang Holdings (International) Limited, a Shanghai-based retail-anchored mixed use developer, owner and operator ("CB"), as part of an approximately US$920 million capital raising by CB, which also included a direct investment by Ivanhoé Cambridge, Inc., a real estate subsidiary of la Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers.  Proceeds from the capital raising will be used by CB for several development opportunities in core retail precincts in Shanghai.

The Baker & McKenzie team advising APG was led by Jason Ng, Hong Kong-based corporate partner and head of the Firm’s investment funds group in Hong Kong/China, with assistance from special counsel Jeremy Ong on corporate and regulatory issues and special counsel Amy Ling on tax issues.  The core team was also supported by lawyers from the China real estate and anti-trust groups.

Commenting on the deal, Jason Ng said, “We are delighted to continue our representation of APG and to assist on this significant and strategic investment in CB, which further builds on APG's commitment to the region and its strategy to participate in city specific platforms in key gateway urban centres around the world.  In 2014, we advised APG on its US$650 million commitment to Shanghai-based e-Shang, a leading Chinese warehousing developer and operator.”

APG Asset Management N.V. is a Dutch pension fund asset manager in the Netherlands.  For its pension fund clients and their 4.5 million active and retired participants from the public and private sectors representing over 30% of all collective pension schemes in the Netherlands, APG Asset Management N.V. manages pension assets of more than €430 billion as at the end of April 2015.