Paul Hastings has represented Singapore fund manager Alpha Investment Partners on its agreement to sell the 80 percent stake it holds, along with Keppel Land China, in a firm that owns a mixed-used development in Shanghai for $516.9 million.

Keppel Land China holds 42.5 percent of the 80 per cent stake, while Alpha Asia Macro Trends Fund II and a co-investor hold the remaining 57.5 percent in Sparkle Bright Holdings, which owns the Life Hub @ Jinqiao project in Shanghai.

The stake is being bought by Star Champ Development Limited, a wholly-owned subsidiary of the Chongbang Group, which owns the other 20 percent of the project.

The Paul Hastings team was led by Hong Kong partner Vivian Lam.