Xinyuan Real Estate receives USD109 million investment from TPG Capital

By Marc Castro

Sep 20, 2013 01:43 PM EDT

TPG Capital was advised by Ropes & Gray on the completion of a strategic investment in Xinyuan Real Estate Co. Ltd. One of the world's leading private equity firms had invested nearly USD108.6 million into the Chinese real estate firm for convertible notes and common shares.

TPG has been a client of Ropes and Gray for quite sometime, for its Hong Kong and other global offices. Earlier in the year, Ropes and Gray had advised a buyer consortium where TPG Capital was a part of, in its USD178 million to privatize the acquisition of ShangPharma Corporation, one of the leading China based pharmaceutical companies. 

The Ropes and Gray team members were Gary Li for Private Equity, Daniel Anderson for Hedge Funds and Paul Boltz for Securities and Public Companies.

WIth the deal, TPG would own about 20% of Xinyuan Real estate on a diluted basis. TPG would also have the right to nominate a non-executive member to the real estate company's board. 

Xinyuan Real Estate develops large scale residential projects for the middle income market in China's tier II cities.

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