King & Spalding Advises Morgan Stanley Real Estate Advisors, Inc. on Investment Fund

King & Spalding advised Morgan Stanley Real Estate Advisors, Inc. on an ongoing basis with respect to an investment fund which relies on the venture capital operating company (“VCOC”) exception to the plan asset “look through” rules of ERISA and the regulations thereunder. Matters undertaken as part of this ongoing review included drafting an opinion of counsel regarding the fund’s compliance with the VCOC exception during the 2015 calendar year; conducting an extensive review of the VCOC and real estate operating company (“REOC”) investments held by the fund and its subsidiaries throughout the year; and performing analysis for VCOC and REOC purposes of each property acquisition and disposition made by the fund and its subsidiaries during the year.