Global Law Firm, led by partner Lin Huawei, has recently secured a US$389m investment for Red Star Macalline, a leading furniture retailer in China, from investors including Warburg Pincus, CITIC Private Equity, Fosun Group and Bohai Industrial Investment. The investment marks the largest ever financing transaction of its kind in the local furniture industry.

The investment is Red Star’s second round of financing. In 2008, Warburg Pincus, a US PE fund, invested US$200m into Red Star in exchange for a 20% stake. Red Star was then advised by Llinks partner David Yu.

According to Red Star, the company plans to open at least 200 chain stores across China by 2020. The furniture retailer is also looking to speed up its IPO plans in order raise capital for its planned outlets.

Established in 1986, Red Star operates 66 stores in Beijing, Shanghai, Guangzhou and other 40 cities in China. Sales in 2009 exceeded RMB313m, ranking it first in the nation's retail furniture industry.

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