Advised Clarion Partners in the conversion of Lion Gables Apartment Fund, a $4 billion closed-end fund, into an open-ended fund with $1.87 billion of investor capital

King & Spalding advised Clarion Partners in the conversion of Lion Gables Apartment Fund, a $4 billion closed-end multifamily fund, into an open-ended fund with approximately $1.87 billion of investor capital. The firm advised Clarion in all aspects of raising the necessary investment capital, rolling over certain investors and structuring debt financing for the converted entity.