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Phoenix bags $325m hotel fund JV opposite Amarchand and MoFo

Start-up firm Phoenix Legal has secured the instruction for hotel operators Accor and Interglobe, which established a hotel investment fund with Pacifica Partners, which were advised by Amarchand Mangaldas Mumbai and Morrison Foerster in Tokyo.

Phoenix co-founding partner Abhishek Saxena led the $325m fund formation deal for Accor and Interglobe, which is understood to have been one of the largest corporate deals handled by the firm since starting.

Morrison Foerster Tokyo partner Eric J. Piesner advised Pacifica on international law while Amarchand Mangaldas partner Leena Chacko led the Pacifica team on Indian law advice.

The fund is a joint venture where each company holds around one third of equity with the aim to open up seven hotels in India between 2011 and 2013, according to the Economic Times.

Saxena declined to comment.

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