Bosphorus Real Estate Fund I, L.P.

Jacqueline Richomme and Peter Goddard advised Merrill Lynch Global Principal Investments and Krea Real Estate in relation to the establishment of a fund set up to invest in Turkish real estate.

The fund was a joint venture between Merrill Lynch Global Principal Investments who provided the investment expertise and Krea Real Estate who have expertise of the Turkish property market. The fund used a private equity structure, investing in Luxembourg companies which would indirectly acquire the property. We advised on the Jersey legal and regulatory aspects of the deal as well as the establishment of the Jersey entities involved in the transaction.

January 2007