Experience

• Private Equity/Mergers & Acquisitions

  • Wilsonart, a Clayton, Dubilier & Rice portfolio company, in the $150 million sale of its Asia Business to Aica Kogyo and the Development Bank of Japan.
  • Unicharm, a publicly-listed company in Japan, in its acquisition of DSG International, a publicly-listed company in Thailand.
  • Hony Capital in its capacity as a strategic shareholder in the acquisition of naked Hub by WeWork Greater China.
  • A consortium of investors, led by FountainVest Partners and The Carlyle Group, on the $3.6 billion leveraged buyout of Nasdaq-listed Focus Media.
  • The acquisition of Finnish-listed Amer Sports by a consortium of investors led by Anta Sports and FountainVest Partners (representing a prospective consortium member).
  • The acquisition of Arysta LifeScience, a portfolio company of NYSE-listed Platform Specialty Products Corporation, by India-listed UPL Group (representing a prospective consortium member).
  • A consortium of investors led by Hillhouse Capital in the acquisition of a global financial services and funds administration business.
  • Clearwater Capital in its sale to Toronto Stock Exchange-listed asset management firm Fiera Capital Corporation.
  • HarbourVest Partners in its co-investment with a Southeast Asian private equity fund in the buyout of an education group in Malaysia.
  • A China-focused Global Private Equity Fund in its proposed acquisition of the China services business being spun-out from a publicly-listed international conglomerate (ongoing).
  • Credit Suisse in its investment in, and related economic arrangements with, an Asian alternative credit provider and asset management company.
  • Capital Group in its acquisition of a 40% equity stake in InterGlobe Technology Quotient.
  • Hony Capital in its strategic investment in, and related cooperation arrangements with, as well as follow-on investment and subsequent corporate restructuring transactions involving, the WeWork Companies.
  • Baring Private Equity Asia in a $4.3 billion buyout of NYSE-listed Nord Anglia Education.
  • HarbourVest Partners in its co-investment in the acquisition of an Australian healthcare company.
  • A private equity fund’s proposed acquisition of a significant stake in the financial services business being spun-out from a listed Chinese technology company.
  • HarbourVest Partners in its direct investment in Janalakshmi Financial Services, a non-banking financial services company in India.
  • Alibaba Group in its joint venture with SoftBank and Foxconn Technology and its investment in SoftBank Robotics Holdings Corp.
  • Dover Corporation in its buyout of its Chinese partner’s 33% interest in Tokheim Hengshan Technology (Guangzhou) Co., Ltd.
  • A private equity portfolio company in its proposed acquisition of a chemicals company in Southeast Asia.
  • HarbourVest Partners in its direct investment in an online payments services provider in China.
  • Capital Group in follow-on investment in Go-Jek, an Indonesian hyperlocal transport, logistics and payments startup that operates a leading online delivery and ride-hailing platform in Southeast Asia.
  • Goldman Sachs Principal Investments in its investment in a mobile video streaming company in China.
  • A private family office in its investment in Grab, a Singapore-based technology company that offers ride-hailing, ride-sharing and logistics services.
  • Dover Corporation in the disposition of its specialty glass and commercial glass refrigeration equipment business in China.
  • Capital Group in its acquisition of an equity stake in Intas Pharmaceuticals, one of the largest pharmaceutical companies in India, from ChrysCapital, an India-focused private equity firm.
  • Hony Capital in its investments in Nasdaq-listed FibroGen, a U.S.-based biopharmaceutical company.
  • Ally Bridge in its PIPEs transaction with Nasdaq-listed Sorrento Therapeutics.
  • HarbourVest Partners in its co-investment in connection with the acquisition of an Australian wine producer.
  • Polyus Gold International in its sale of up to a $1.4 billion stake in PJSC Polyus to Fosun International.
  • HarbourVest Partners in its co-investment with an Indian private equity fund in connection with the acquisition of equity interests in a leading pharmaceuticals company in India.
  • Hillhouse Capital in its investment in a U.S. provider of doctor-directed invisible dental aligners.
  • A Private Equity Fund’s proposed acquisition of a controlling stake in the China operations being carved-out from a Nasdaq-listed artificial intelligence company (ongoing).
  • The D. E. Shaw Group in the restructuring of Kaisa, a Hong Kong-listed PRC property developer.
  • The Heart Clinic, a cardiology specialist medical practice, in its sale to Virtus Medical Holdings, and the establishment of a long-term arrangement for the cardiologists to continue operating The Heart Clinic under Virtus Medical Holdings.
  • Alibaba Group in the structuring, negotiation and documentation of various strategic investment, private equity, growth capital and joint venture transactions globally.
  • Goldman Sachs Principal Investments on various private equity investments in China across various industries, including TMT, education, water purification and treatment, and healthcare.
  • Standard Chartered Private Equity on various special situations transactions in the solar, renewable energy and retail sector in China, including straight equity investments and structured debt instruments.
  • Telstra International Holdings Limited in its divestiture of SouFun Holdings through a U.S. IPO transaction and concurrent sale of remaining equity interests to a consortium of private equity funds.
  • Anheuser-Busch InBev in its $1.8 billion disposition of Oriental Brewery to KKR.
  • Nasdaq-listed ASE Test in its “going private” scheme of arrangement with NYSE-listed Advanced Semiconductor Engineering.
  • Segantii Capital in completed and proposed investments in the bitcoin/cryptocurrency, artificial intelligence, healthcare, transportation network services and other TMT sectors.
  • China Renaissance Capital Investment in its acquisition of various limited partnership interests from various global financial institutions.
  • Alibaba Group in its acquisition of Lazada Group, a Southeast Asia focused e-commerce company.
  • HarbourVest Partners in its co-investment in a payroll business process outsourcing company in Australia.
  • HarbourVest Partners in its co-investment in an infrastructure services company in India.
  • HarbourVest Partners in its co-investment in a manufacturer and distributor of semi-finished bakery products in Australia.
  • Various multinational corporations in restructuring, spin-off and asset divestiture transactions involving its Asian/China operations.

• Financial Institutions/Financial Services/Fintech

  • Ant Financial (formerly Alipay) in the structuring, negotiation and documentation of various strategic investment and joint venture transactions globally relating to online payments and financial services.
  • Acquisition of HKSE-listed Chong Hing Bank via a partial voluntary general offer by Yue Xiu Enterprises.
  • Temasek in its proposed acquisition of a significant strategic equity stake in a leading publicly-listed insurance company in China.
  • Bank of China in its strategic equity sales to Royal Bank of Scotland Group, Temasek, UBS and Asian Development Bank.
  • American International Group’s global investment arm in various investments as well as divestitures regionally in Asia.
  • Initial public offerings and listings by AIA, China Pacific Insurance, New China Life Insurance, Ping An Insurance and People’s Insurance (Group) Company of China.
  • Securities offerings and other capital raising transactions by Bank of China, Bank of Chongqing, Bank of Communications, Bank of China Hong Kong, Standard Chartered Bank, Argentaria (now BBVA), Unibanco-Uniao de Bancos Brasileiros, Fifth Third Bank and Thai Farmers Bank (now Kasikornbank).
  • The principal investment divisions of Goldman Sachs, Standard Chartered and UBS in various investments and acquisition in Asia.

• Debt and Acquisition/Leveraged Finance

  • Multiple subscription line/capital call financing transactions for various Asian and China-focused private equity funds with aggregate proceeds in excess of $1 billion.
  • Alibaba Group in its multiple concurrent offerings of unsecured notes with an aggregate principal amount of $8 billion.
  • Focus Media in acquisition financing for its LBO, in the form of senior secured term loans, bridge-to-cash facility and SBLC financing, together with proposed bridge financing and high yield bond takeout.
  • Yue Xiu Enterprises’s bridge loan financing facility for its acquisition of HKSE-listed Chong Hing Bank.
  • Margin loan financing transactions involving publicly traded equity securities.
  • Hutchison Whampoa in multiple offerings of guaranteed notes and hybrid perpetual capital securities totaling over $6 billion.
  • China Oriental Group in tender offers for multiple series of its outstanding high yield notes.
  • Jaguar Land Rover, Tata Motors and Jingrui Properties in multiple offerings of high yield notes.
  • P.T. Newmont Nusa Tenggara in a secured revolving credit facility from a consortium of international and Indonesian commercial banks to fund the operations of the Batu Hijau copper-gold mine in Indonesia.
  • Goldman Sachs Asia Special Situations Group in a debt exchange transaction involving swapping second lien loans for newly issued high yield bonds of Global AT&T Electronics (formerly known as United Test & Assembly Center).
  • Anheuser-Busch InBev in a contingent value rights instrument, mezzanine financing and PIK notes in connection with the sale of Oriental Brewery to KKR.
  • AIA Group in its $500 million offering of 3.90% notes due 2028.
  • AIA Group in its $500 million offering in Taiwan of 4.47% senior unsecured fixed rate notes due 2047.

• Capital Markets and Securities

  • Alibaba Group’s $25 billion SEC-registered initial public offering and New York Stock Exchange listing.
  • HKSE-listed Power Assets Holding in its spin-off of Hong Kong Electric using a share stapled unit structure issued through a holding company of Hong Kong Electric and a fixed singe investment trust holding the ordinary shares of the holding company via an initial public offering and listing on the Hong Kong Stock Exchange.
  • Tata Motors Limited in its SEC-registered rights offering in the U.S. and concurrent public rights offering in India.
  • Yum! Brands spin-off of its Yum China unit via a listing on the New York Stock Exchange (advising the financial advisor to a strategic shareholder).
  • Nasdaq-listed China Natural Resources in its spin-off via a listing by introduction of Feishang Anthracite.
  • Autohome, SouFun, Mindray Medical International, China Nepstar, Chunghwa Telecom and Hutchison Telecom International in SEC-registered IPOs and U.S. listing transactions.
  • Alibaba.com, Phoenix Healthcare Group, Shanghai Pharmaceuticals, Regina Miracle International, Ozner Water International and Universal Medical in Hong Kong initial public offerings and listings transactions.