A&O Shearman advises Mubadala on its investment in Newland Commercial Management

The consortium, comprising PAG, Trustar Capital, Ares, Abu Dhabi Investment Authority (ADIA) and Mubadala, collectively invested approximately RMB60 billion yuan (USD8.3 billion). This investment secures a combined 60% stake in Newland Commercial Management, with Dalian Wanda Commercial Management retaining the remaining 40%.

This strategic investment marks a major milestone in the commercial real estate sector in China and one of the largest private equity transactions in China in recent years.

Partner Wayne Lee commented: “We are delighted to have represented Mubadala on this landmark transaction. This investment is a testament to our ability to support its clients in pursuing opportunities that contribute to economic growth and development.”

Victor Ho, Head of Corporate in APAC, commented: “This is a fantastic and complicated transaction which the team has completed for one of the firm's key institutional clients. It is good to see Mubadala placing their faith in us to represent them on their investment opportunities in Asia.”

The team was led by partner Wayne Lee in the Shanghai office, with support from Shanghai-based counsel Richard Ou. Rachel Ye, an associate at Shanghai Lang Yue Law Firm, the joint operation partner in China, also assisted on this transaction.