Proprium Capital and Abu Dhabi Investment Council form JV with China SCE and FUNLIVE
Posted on 04/01/2020
Proprium Capital Partners is an employee-owned real estate fund manager spun out from Morgan Stanley in March 2013 due to the Volcker rule in the Dodd–Frank Wall Street Reform and Consumer Protection Act. Proprium Capital Partners and the Abu Dhabi Investment Council (ADIC), which is now part of Mubadala Investment Company, formed a US$ 500 million joint venture with listed company China SCE Group Holdings Limited and FUNLIVE Holdings Limited. The joint venture will invest in rental apartments in gateway cities across mainland China. The joint venture already has US$ 230 million in initial committed equity.
China SCE Group Holdings focuses on real estate development in China. FUNLIVE is the term rental apartment platform of China SCE Group
Law firm Paul Hastings LLP advised Proprium Capital Partners on the deal.