Clifford Chance

Non-Traded Products

• Apollo Global Management, as sponsor, in the formation and a continuous IPO of up to $5 billion in common shares of Apollo Realty Income Solutions, Inc., a non-traded REIT.
• CNL Financial Group in the formation, concurrent private offering and a continuous IPO of up to $1.1 billion in common shares of CNL Strategic Capital, LLC, a non-traded company involving non-real estate assets.

Exchange Traded Products

• A global asset manager in the formation and ongoing representation of its physical commodity and bitcoin ETFs.
• GSAM in the acquisition of the sponsorship interest in the Perth Physical Gold ETF, now known as the Goldman Sachs Physical Gold ETF.

Common Stock and Preferred Stock Offerings

• BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan, RBC and other Underwriters in numerous Alexandria Real Estate Equities, Inc. (NYSE: ARE) public offerings of $9.1 billion in the aggregate of common stock.
• Morgan Stanley, Wells Fargo and other Underwriters in numerous KKR Real Estate Finance Trust Inc. (NYSE: KREF) public offerings of $372.9 million in the aggregate of common stock.
• Raymond James and KKR Capital Markets LLC in numerous KKR Real Estate Finance Trust Inc. (NYSE: KREF) public offerings of $306.5 million in the aggregate of preferred stock.
• Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) in numerous public offerings of $532.4 million in the aggregate of common stock.

Debt Offerings and Liability Management

• Apollo Commercial Real Estate Finance (NYSE: ARI) in its senior secured notes offering of $500 million (Rule 144A/Reg S).
• BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan, RBC and other Underwriters in numerous Alexandria Real Estate Equities, Inc. (NYSE: ARE) public offerings of $12.5 billion in the aggregate of senior notes.
• Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) in numerous public offerings of $1.3 billion in the aggregate of senior notes of its subsidiaries.

Convertible Notes Offerings:

• Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) in two public offerings of $294 million in the aggregate of convertible senior notes.