Asia Private Equity

Globe

A global leader in private equity and private investment funds, Ropes & Gray offers clients in Asia and those investing in the region a deep understanding of local markets and industry-specific issues, an on-the ground presence and the resources of one of the world’s premier law firms.

Contact

“Widely regarded for its private equity experience in the region, with highly experienced teams in Japan and China.” Chambers Asia
“Universally, I have been extremely impressed with their availability, knowledge, counsel and advice, and their high-quality and prompt deliverables.” Private Equity Client, Chambers Global
“This firm continues to be a growing force in the private equity arena, with market sources noting that it has a strong presence in China and Japan. It combines its Asia-wide talent with expertise in the USA and UK, serving clients on a range of multi-jurisdictional deals.” Chambers Global

Overview

Ropes & Gray’s partners in Asia have more than 100 combined years of experience advising private equity funds, public and private companies, and financial institutions on Asia-related private equity investments, including mergers and acquisitions, securities matters and internal investigations. 

Our experience with Asian businesses and our understanding of the regulatory and business environment in which they operate, enables us to identify the issues and risks facing global investors across Asia and to provide highly practical real-time advice. Our lawyers’ ability to communicate in Mandarin, Japanese and Korean provides added efficiency and effectiveness in both transactional and investigatory settings. 

Our Asia team, based in Hong Kong, Shanghai, Seoul and Tokyo, works in collaboration with our offices in Europe and the United States to devise tailor-made solutions to each client’s specific business and legal needs. Our team includes a regional FCPA specialist who combines Asia-specific insight with U.S. regulatory knowledge, and works seamlessly with FCPA practitioners in our U.S. offices.

Asia-Specific Experience

Ropes & Gray is one of a very few firms in Asia with a dedicated, sponsor-side leveraged finance team. This team has represented sponsors on many of the largest LBOs recently completed across Asia and has unrivalled understanding of Asian, European, U.S. and local deal structures.

In addition, our Asia team possesses:

  • The ability to advise on English and U.S. law across all levels of the capital structure, including equity, debt and hybrids
  • Structuring know-how backed by Hong Kong-based UK and U.S. senior restructuring and insolvency experience
  • Extensive experience gained during the financial crisis in restructuring and exiting distressed investments
  • Deep knowledge of the practical difficulties faced by investors in downside scenarios and the means of structuring transactions from the beginning to mitigate downside risk and ensure that investors have substantial leverage in restructuring negotiations

Experience

Some recent highlights include:

  • Bain Capital. Advised Bain Capital in numerous notable Asia private equity transactions, including:
    • its US$18 billion consortium buyout of the Toshiba Corp. semiconductor business, the largest Japanese deal since 2011, and the largest private equity and leveraged finance deal ever seen in Asia.
    • its consortium acquisition and subsequent sale of Carver Korea Co., Ltd., the fastest-growing skincare business in South Korea, to Unilever.
    • its acquisition of Camp Australia, disposal of Gymboree Play & Music business, and leveraged tender offer buyout of Yukiguni Maitake.
  • Baring Private Equity Asia. Advised Baring Private Equity Asia in its acquisition of a 40 percent stake in, and subsequent sale of, Weetabix Food Company from Bright Food, a China state-owned food manufacturing company.
  • Blackstone. Advised Blackstone, as the lead buyer of a consortium, in the US$625 million going-private transaction of China-based Pactera Technology International Ltd. Our team advised the buyer consortium on the financing of the transaction. Named 2015 “High Yield Deal of the Year” by IFLR.
  • CMC Capital Partners. Advised CMC Capital Partners in its joint venture with Creative Artists Agency, a global entertainment and sports agency, creating CAA China.
  • Canada Pension Plan Investment Board. Advised the Canada Pension Plan Investment Board in its acquisition of an approximately 20% stake in Homeplus, Tesco’s South Korean business, for US$534 million as part of the consortium led by MBK Partners. Named Deal of the Year in 2015/2016 by multiple publications including the Asian Lawyer, The American Lawyer, Asian-Mena Counsel and Asian Legal Business.
  • Goldman Sachs. Advised Goldman Sachs in its US$100 million convertible bond financing of a subsidiary of HKSE-listed GCL New Energy Holdings Limited, a leading developer and operator of renewable energy projects in the PRC.
  • TPG Capital. Advised TPG in numerous Asia private equity transactions, including:
    • its US$400+ million investment in Kakao Corporation’s transport/taxi app business, Kakao Mobility.
    • its US$100 million strategic investment in Xinyuan Real Estate Co., Ltd., a Chinese real estate developer.
    • its US$178 million take private acquisition of ShangPharma Corporation, a leading China-based pharmaceutical company.

Awards

Ropes & Gray’s private equity work in Asia has quickly garnered recognition by clients and independent reviewers, including:

  • Chambers Asia-Pacific, Chambers Greater China, Chambers Global, The Legal 500 Asia Pacific, IFLR 1000: Ranked year after year in the Asia-Pacific region as a leading law firm within Greater China, Hong Kong, Japan, South Korea, for advising our private equity clients in the following areas:
    • Banking and Finance
    • Corporate/M&A
    • Investment Funds
    • Healthcare and Life Sciences
    • Private Equity/ Venture Capital
    • Regulatory/ Compliance
  • China Business Law Journal’s 2022 China Business Law Awards recognized for Asset management and Private Equity & Venture Capital.
  • Refinitiv’s Global Mergers & Acquisitions Review 2021 – ranked among the top 10 legal advisers for M&A across the Asia Pacific.
  • Mergermarket Asia Pacific M&A Legal Advisers, 1H 2021 -– ranked third in league tables for Asia Pacific mergers & acquisitions legal advisers by value, excluding Japan, in 1H 2021.
  • China Business Law Journals2020 China Business Law Awards: recognized for asset management.
  • Private Equity International 2018 Awards named among Asia’s top three law firms for fund formation, transactions and secondaries.

Deal of the Year Awards

  • The Asia Legal Awards 2022:
  • Asian Legal Business’ ALB Japan Law Awards 2019M&A Deal of the Year (Midsize): Baring Private Equity Asia’s Acquisition of Pioneer Corporation.
  • Financial Times Asia-Pacific Innovative Lawyers 2019 – praised for innovation in Enabling Business Growth and Transformation for:
    • Advising Bain Capital on its simultaneous acquisition of U.S.-based packaging company World Wide Packaging and a leading Chinese cosmetics packaging manufacturer in advance of merging the two companies.
    • Designing the governance structure for a joint venture between Alibaba Group and Switzerland-based luxury goods company Richemont.
  • IFLR Asia-Pacific Awards 2019 – “Private Equity Deal of the Year” for Bain Capital-led consortium’s US$18 billion buyout of Toshiba Memory Corporation.
  • China Law & Practice 2019 Awards – “Outbound Deal of the Year” for advising Harbin Pharmaceutical’s US$300 million investment in GNC Holdings.
  • Financial Times Asia-Pacific Innovative Lawyers 2018 – Winner for “Innovation in Legal Expertise: Managing Complexity and Scale” for Toshiba’s US$18 billion sale of its memory chip business.
  • Asian Legal Business’ Japan Law Awards 2018 – “M&A Deal of the Year (Premium)”, “Technology, Media and Telecommunications Deal of the Year” and “Japan Deal of the Year” for Toshiba's US$18 billion sale of its memory chip business.
  • The Asia Legal Awards 2018:
    • “M&A Deal of the Year: North Asia” for Toshiba Corp.’s sale of its memory chip business.
    • “Private Equity Deal of the Year” for Nord Anglia Education’s US$4.3 billion privatization. 
  • IFLR Asia-Pacific Awards 2018 – Awarded “Restructuring Deal of the Year” for the Mongolian Mining Corporation restructuring.
  • IFLR Asia-Pacific Awards 2017 – Awarded “Restructuring Deal of the Year” for the Kaisa restructuring.
Cookie Settings