On April 21, 2026, Kingland Partners (“Kingland”) acted as PRC legal counsel to ESR Group, a leading Asia-Pacific real asset manager, in connection with the establishment of a RMB 1.6 billion dedicated RMB income fund jointly with two leading domestic insurance groups, as well as the subsequent acquisition by the fund of two multi-storey logistics and industrial assets located in Shanghai and Suzhou and held by ESR. Kingland provided comprehensive legal services throughout the entire process.
ESR Group is a leading new economy real asset manager in the Asia-Pacific region and one of the world’s largest publicly listed real estate investment managers, with operations spanning multiple markets. The establishment of this RMB 1.6 billion dedicated RMB income fund represents an important step in ESR’s capital recycling strategy in China and its asset-light approach to further expanding its industrial and logistics real estate platform. The fund attracted participation from institutional investors cooperating with ESR for the first time. ESR, as the fund manager and asset operator, retains a minority interest and full management responsibilities.
As PRC legal counsel to ESR Group, Kingland provided full-scope legal services covering all stages of the transaction, including: drafting, revising, and negotiating the partnership agreement of the RMB income fund and other related fund documents; advising on fund structuring and assisting with regulatory filings; conducting legal due diligence on the target assets; drafting, revising, and negotiating the acquisition agreements; and providing support for subsequent closings.
The Kingland team was jointly led by partners Sabrina Xu, Hu Chengcheng, Liu Shaohua, and Li Zhibin, with antitrust legal support provided by Yang Jingru. The team integrated expertise in private equity funds, real estate M&A, and regulatory compliance to ensure the efficient advancement of the project and effective management of legal risks. Other team members included Cheng Lei, Gao Jinyang, and Jin Longji.
Leveraging its extensive experience in private funds and real estate transactions, Kingland Partners is committed to providing clients with full-cycle legal services, from fund formation and investment operations to asset exit. With a professional, pragmatic, and efficient approach, Kingland continues to support domestic and international clients in capturing strategic opportunities in China’s new economy real estate market.
