The Chiron Real Estate Fund, a closed-end opportunistic fund domiciled in Singapore, will assemble a 30M USD portfolio of equity interests in premium depreciated commercial real estate assets in the city center of Ulaanbaatar, the capital city of Mongolia. The fund's management team is comprised of highly qualified expatriate and Mongolian real estate market analysts and investors with over six years of combined Mongolian experience based exclusively in Ulaanbaatar. We seek to identify, acquire and add value to high priority depreciated commercial real estate assets set for capital growth and excellent yield generation over the next three to five years. As the city center of a rapidly growing economy, the central business district of Ulaanbaatar will be the focus of investment operations. These premium commercial real estate assets presently suffer from a lack of funding on the back of a slow-down in revenues from mining exports to China during late 2012 and early 2013 and concomitant rising commercial bank interest rates. We believe the second half of 2013 will be the perfect opportunity to strategically acquire shares in and recapitalize depreciated commercial real estate assets in the city center of Ulaanbaatar, with a view to holding and generating revenue from these assets over the next three to five years, prior to disposal in a high growth market. The strategy is timed to coincide with a temporary downturn as a result of constriction in the funding pipeline for domestic and international commercial property developers in Ulaanbaatar, although a plethora of domestic growth drivers, primarily around exploration, development and production of natural resources in Mongolia, will continue to drive macroeconomic growth and undergird an exponentially growing real estate sector. Over the coming decade, Mongolia is forecasted to be the world’s fastest growing economy.