Zhong Lun Advises China Railway Development Fund on Its Establishment and First Phase of Fund Raising
Zhong Lun Advises China Railway Development Fund on Its Establishment and First Phase of Fund Raising
China Railway Corporation signed the Investor Agreements and the Articles of Association jointly with the respective investment platform of Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Industrial Bank Corporation, on the sponsors conference held in Beijing on 25 September 2014, marking the formal establishment of China Railway Development Fund Co., Ltd ("Railway Development Fund"). Our partner Christie Tao was invited to be present in the sponsors conference.
The Railway Development Fund is China’s largest infrastructure investment fund to date. China Railway Corporation acts as the fund’s principal promoter. The fund will also attract social investors to subscribe for the fund’s preferred shares. The Railway Development Fund will invest at least 70% of its capital in railway projects approved by the state, while the rest will be invested in business projects such as railway real estate development in order to lift overall return.
Zhong Lun acts as the legal counsel to the Railway Development Fund and has assisted the fund in its successful first phase of fund raising and the fund establishment. Zhong Lun will continue advising the fund on its subsequent operational activities, including fund raising, railway project investments and railway real estate development.
Zhong Lun team consisting of partners Zhang Xuebing, Christie Tao, Hao Han, Guo Kejun and Feng Jiyong has provided strong support to the project.