Atlanta-based law firm King & Spalding LLP has advised two large banks on the formation of a Saudi Arabian real estate investment fund seeking $500 million in initial investments. 

Through its offices in Dubai and Riyadh, Saudi Arabia, King & Spalding helped Al Rajhi Capital and Bahrain-based Arcapita Bank BSC establish the ARC Real Estate Income Fund. The fund is compliant with Islamic finance laws and will focus on properties including warehouses, health care centers and educational buildings in Saudi Arabia and the surrounding region.

Al Rajhi Capital is the investment banking arm of Al Rajhi Bank, one of Saudi Arabia's largest commercial banks. Arcapita has its U.S. office in Atlanta. 

King & Spalding has more than 800 lawyers in 14 offices globally. 

Visit www.kingandspalding.com.

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