Global Islamic Finance & Investment

Representative Matters

• Representation of HSBC Amanah Global Properties Income Fund, a Shari'ah-compliant open-ended global real estate investment fund with US$1.85 billion in assets under management, in the development and implementation of Shari'ah-compliant real estate acquisition and financing structures in multiple jurisdictions, including the United States, England, Scotland, Sweden and the Netherlands.
  
  
• Representation of Arcapita Bank B.S.C.(c) in the US$400 million acquisition of The Tensar Corporation, a global leader in providing technology-driven soil stabilization, erosion control and foundation support products, including the structuring of Shari'ah-compliant senior, subordinated and working capital financing, and in the £65 million add-on acquisition of, and financing for, Tensar International and its foreign subsidiaries.
  
  
• Representation of Encore Management S.A. in connection with the formation of the Sanad Sukuk Fund. This Shari'ah-compliant fund is intended to be the world's first diversified open-ended Sukuk fund and has an initial target size of US$100 million.
  
  
• Representation of Kuwait Finance House K.S.C. and Kuwait Finance House (Malaysia) in connection with the formation and syndication of the US$100 million Baitak Asian Real Estate Fund and the initial investment by the fund. The fund was formed to make Shari'ah-compliant investments in real estate development projects in South East Asia. An initial investment has been made in Project Pavilion, a mixed-use real estate development in Kuala Lumpur, Malaysia.
  
  
• Representation of Kotak Mahindra (UK) Ltd in connection with the establishment of its Shari'ah-compliant India Equities Fund. The fund has an initial target size of US$500 million.
  
  
• Representation of Eurx Properties S.C.A., a Shari'ah-compliant pan-European real estate fund, in a restructuring of the fund to bring in two feeder funds committing over €200 million of additional equity. Our representation of the fund includes structuring the acquisition and financing on a Shari'ah-compliant basis of two portfolios of real estate assets in the Czech Republic and Luxembourg having an aggregate value exceeding €280 million and individual properties in England, Poland, Portugal and France.
  
  
• Representation of National Bank of Kuwait SAK in the formation of Global Islamic Investment Company Ltd., a Cayman Islands segregated portfolio company, and the establishment of the KD Shari'ah-compliant Money Market Fund as its first segregated portfolio.
  
  
• Representation of Arcapita Bank B.S.C.(c) in the formation of Arcapita Ventures, a US$200 million Shari'ah-compliant venture capital fund.
  
  
• Representation of ABC International Bank plc and Global Securities House W.L.L. in the formation of a US$140 million joint venture with The Broe Group of Denver, Colorado, for the Shari'ah-compliant acquisition of several office and industrial properties in the United States.
  
  
• Representation of Arcapita Bank B.S.C.(c) in the US$435 million acquisition of and financing for substantially all of the assets of FORBA, LLC, the largest U.S. dental practice management company supporting affiliated dental practices that exclusively serve the needs of children eligible for government-funded dental care benefits, including the structuring of Shari'ah-compliant senior, subordinated and working capital financing.
  
  
• Representation of International Investment Bank B.S.C.(c) in connection with the acquisition of a portfolio of commercial properties in France having an aggregate value exceeding €100 million. The acquisition was structured on a Shari'ah-compliant basis through the acquisition of Shari'ah-compliant credit-bail leases.
  
  
• Representation of Arcapita Bank B.S.C.(c) in the US$185 million acquisition of 3P Delivery, Inc. and General Transportation Services, Inc., providers of last-mile delivery service and logistical support to major retailers and manufacturers of building products, appliances, furniture and other heavy goods, including the structuring of Shari'ah-compliant term and working capital financing.
  
  
• Representation of Al-Muthanna Investment Company K.S.C.C. and Nakheel United Real Estate Company K.S.C.C. in connection with the formation of a Shari'ah-compliant real estate fund. The fund will invest in the £230 million Finzels Reach mixed-use real estate project in Bristol, United Kingdom. The representation included the structuring and implementation of Shari'ah-compliant financing for the project.
  
  
• Representation of Arcapita Bank B.S.C.(c) in connection with the formation of a US$110 million joint venture with the Prescott Group for the Shari'ah-compliant acquisition and operation of six retail outlet centers in the United States.
  
  
• Representation of Boubyan Bank K.S.C.C. in connection with the formation of a joint venture with Dividend Capital Trust for the US$120 million acquisition, financing and operation of six distribution facilities in the United States.
  
  
• Representation of Global Securities House W.L.L. in the formation of a joint venture with Continuum Care Holdings, Inc. for the acquisition of the Spring Creek Healthcare and Rehabilitation Center and in the formation of a second fund to provide Shari'ah-compliant bridge financing for the acquisition.