REEF Raises $1 Billion to Build Proximity Platform to Support the On-Demand Economy

November 04, 2020

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm advised REEF Technology Inc. in a $700 million growth equity financing led by Mubadala Investment Company’s financial investment arm, Mubadala Capital, and a $300 million joint infrastructure vehicle formed by REEF and Oaktree Capital Management to acquire strategic real estate assets. With these transactions, REEF will continue investing in its proximity-as-a-service platform to build neighborhood hubs.

With an ecosystem of 4,500 locations, REEF transforms underutilized urban spaces into neighborhood hubs that connect people to locally curated goods, services, and experiences.

The Paul Hastings team for the growth equity financing was led by Corporate partner Barry Brooks and Corporate associate Daniel Grossman, and included of counsel Jason Hill, associates Bo-Shan Xiang, Asna Shah, as well as Tax partners Joseph Opich and Dan Stellenberg.

The Paul Hastings team for the joint infrastructure vehicle was led by Corporate partner Barry Brooks and Corporate associate Daniel Grossman as well as Real Estate partner Eric Landau and associate Victoria Siesta, and included of counsel Jason Hill and Tax partner Joseph Opich.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.