SOURCE: King & Spalding

King & Spalding, a leading international law firm

March 01, 2010 10:08 ET

King & Spalding Advises Al Rajhi Capital and Arcapita Bank in the Formation of a $500 Million Real Estate Income Fund

RIYADH, SAUDI ARABIA--(Marketwire - March 1, 2010) - King & Spalding, a leading international law firm, announced today that it advised Al Rajhi Capital and Arcapita Bank B.S.C.(c) in the formation of the ARC Real Estate Income Fund, a Shari'ah-compliant real estate investment fund registered with the Saudi Arabian Capital Markets Authority and targeting USD 500 million in commitments. The fund will focus on income-generating properties in Saudi Arabia and the Arabian Gulf region, including logistics warehouses, healthcare centers and education-related assets.

For more information on the fund and its formation, go to http://www.arcapita.com/media/press_releases/2010/02-22-10.html.

The King & Spalding legal team involved in the transaction was led by Dubai-based partner Benjamin R. Newland and partner Nabil A. Issa of the firm's Dubai and Riyadh offices and also consisted of counsel Matthew H. Dallimore and associate James R. Stull of the firm's Dubai office and Riyadh-based counsel Mohammad Al-Ammar.

Al Rajhi Capital is the investment banking subsidiary of Saudi Arabia's Al Rajhi Bank, one of the largest commercial banks in Saudi Arabia and the largest Islamic banking institution globally. Arcapita Bank B.S.C.(c) is an international Shari'ah-compliant investment firm headquartered in Bahrain.

About King & Spalding

Celebrating 125 years of service, King & Spalding is an international law firm with more than 800 lawyers in Abu Dhabi, Atlanta, Austin, Charlotte, Dubai, Frankfurt, Houston, London, New York, Paris, Riyadh (affiliated office), San Francisco, Silicon Valley and Washington, D.C. The firm represents half of the Fortune 100 and, according to a Corporate Counsel survey in August 2009, ranks fifth in its total number of representations of those companies. For additional information, visit www.kslaw.com.

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