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World Services Group 

July, 2020 - Houston, Texas



WSG Members Counsel Korean Investors on Purchase of York and Stoneweg’s Pegasus Real Estate Fund


WSG members Gianni, Origoni, Grippo, Cappelli & Partners from Italy and Arendt from Luxembourg recently counseled Korean Investors represented by JB Asset Management on the purchase of 49% of the Pegasus real estate fund, which has a commercial value in excess of 200 million euro.

As key players in their regions, these firms and their collaborations on important client deals continue to be a testament to the power of WSG member relationships and the highest level of success WSG members provide to key global clients.

Published in Global Legal Chronicle, July 16
Author: Paolo Bossi

AMM Prime Management GmbH, Gianni, Origoni, Grippo, Cappelli & Partners, Arendt, PRLAW and Di Tanno Associati counselled the parties in the transaction.

York Capital and Stoneweg have successfully closed the sale of 49% of the units of the Pegasus real estate fund managed by Kryalos SGR to Korean institutional investors managed by JB Asset Management.

With this transaction, which has a commercial value in excess of 200 million euro, the Korean investors represented by JBAM acquire from the two international investors a participation in the Pegasus Fund, which owns the ENI Fifth Office Building, a building mentioned in architectural annals, projected by Gabetti-Isola architects, thus acquiring a fully rented core-plus investment. The building hosts the Exploration and Production division of the major Italian energy company.

Kryalos SGR S.p.A., management company of the closed-end real estate Alternative Investment Fund (AIF) named Pegasus, has participated to the transaction in its role with respect to the transfer of the units representing 49% of the Fund from York Capital Management and Stoneweg to JBAM.

The Korean investors have been assisted in the transaction by AMM Prime Management GmbH, by the Italian law firm Gianni, Origoni, Grippo, Cappelli & Partners (Davide Braghini-partner e In Young Shun-associate), the Luxembourg firm Arendt and Korean advisors Shin & Kim, the law firm PRLAW (Pietro Rovati-managing partner and Pietro Toniolo-senior associate) has represented the foreign investors York e Stoneweg, while the law and tax firm Di Tanno Associati (Emanuele Marrocco-partner and Mirko Lacchini-associate) has assisted Kryalos SGR.

Involved fees earners: Mirko Lacchini – Di Tanno e Associati; Emanuele Marrocco – Di Tanno e Associati; Davide Braghini – Gianni Origoni Grippo Cappelli & Partners; Pietro Rovati – PR/LAW Studio Legale; Pietro Toniolo – PR/LAW Studio Legale;

Law Firms: Di Tanno e Associati; Gianni Origoni Grippo Cappelli & Partners; PR/LAW Studio Legale;

Clients: JB Asset Management (JBAM); Kryalos SGR S.p.A.; Stoneweg SA; York Capital Management Global Advisors, LLC;

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WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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