Singaporean sovereign wealth fund GIC Pte Ltd is making its first investment in New Zealand real estate by forming a joint venture with Goodman Property Trust, the pair said in a statement on Monday.
GIC will own 49 percent of the joint venture which will invest in Auckland's Viaduct Quarter. It will initially have assets worth NZ$313 million ($242.9 million), including GMT's existing property in the area.
GIC and GMT have set the venture a target to grow to NZ$500 million.
Indian law firms AZB & Partners and Khaitan & Co have advised energy company Sterlite Power and Shardul Amarchand Mangaldas has represented Singapore sovereign wealth fund GIC on the creation of their joint venture to build a power transmission platform in India.
Global law firm Baker McKenzie is launching a legal joint venture in South Korea with local firm KL Partners. The resulting 20-lawyer Baker McKenzie KLP JV will be the largest international law firm in Korea by partner strength, according to the firm.
Singapore boutique Meritus Law has hired Ushan Premaratne as a director from Withers KhattarWong, where he was an equity partner.