Fund Formation (GP)

• Represented China International Capital Corporation in its formation of multiple offshore private equity funds, targeting North American and European fund of funds investments and co-investments.
• Represented a large state-owned enterprise group in its formation of an offshore credit fund with aggregate capital commitments of RMB1 billion. The Fund is dedicated to providing loans to Chinese state-owned companies. The Fund is uniquely positioned to leverage offshore RMB through non-resident accounts to make onshore portfolio investments.
• Represented NRL Capital in its formation of NRL Investment Holdings, an onshore holding company and a Singapore holding company as an investment group platform with aggregate commitments of over RMB2 billion from investors. This is the only investment platform on the market that sponsors, forms, manages, and makes investments in both offshore USD-denominated and onshore RMB-denominated private equity funds, fund of funds, secondary funds as well as direct private equity investments. Investors at the platform level include sovereign wealth funds, industrial investors, and other institutional investors.
• Represented a leading private equity firm in China and one of the largest real estate developers in China as co-sponsors in the formation of a US$1 billion private equity fund focusing on the residential development market in China.
• Represented a U.S.-headquartered global real estate fund manager in the formation of a joint venture with a leading Chinese real estate company, to jointly sponsor an offshore private equity fund focusing on acquisition of and related investment in cold chain logistics assets in China.
• Represented Kington Capital in its formation of an offshore private equity fund specifically targeting the pharmaceutical industry in China and another offshore acquisition fund.
• Represented NX Fund/MM Capital in the formation of an offshore venture capital fund targeting early-stage new consumer industry investments, including technology-driven supply chains, product-driven new brands, and efficiency-driven new channels.
• Represented UBAN Capital in the formation of an offshore fund targeting companies that operate primarily in businesses that are driven by the property sector of the Greater China market.
• Represented Hash Global in the formation of multiple offshore funds targeting early and mid-stage investment opportunities relating to the protocols, infrastructures, middlewares, and decentralized applications relating to the third generation of internet services for websites and applications commonly known as “Web 3.0.”

Fund Investments (LP) and Offshore Investment Managements

• Represented three sovereign investors in a variety of private equity, co-investments and hedge fund investments transactions, as well as secondaries transactions.
• Represented multiple funds sponsored by China International Capital Corporation in their investment in various private equity funds around the globe, as well as co-investment transactions.
• Represented multiple leading insurance companies, industrial investors, and other institutional investors in China, in their investments in multiple private equity funds and venture capital funds across various industries and strategies, as well as related co-investment transactions.
• Represented National Council for Social Security Fund and multiple leading Chinese insurance companies in various offshore investment management transactions.

Private Equity, M&A and Joint Ventures

• Represented Beijing Shouhuan Cultural Tourism Investment, a consortium of four state-owned companies, in the establishment of the multi-billion dollar Beijing Universal Resort, home of Universal Studios Beijing, Universal Citiwalk Beijing, and two hotels.
• Represented Ascent Real Estate Investors and Sigma Delta Partners Investment in the formation of an institutional investor consortium and the consortium’s US$1.34 billion acquisition of Dinghao Electronics Plaza, a landmark complex located in the core area of Zhongguancun, Beijing. The transaction is one of the largest-ever foreign investor acquisitions of a Beijing commercial real estate asset.
• Represented SCPG Holdings, a leading shopping mall owner, developer, and operator in China, China Vanke, a leading urban and rural construction and residential service provider, and Triwater Asset Management, in their formation of an offshore consortium in connection with a RMB8.365 billion (approximately US$1.33 billion) acquisition of a large-scale China real estate portfolio from CapitaMalls Asia, a wholly owned subsidiary of CapitaLand. The portfolio comprises of 20 shopping malls with a total gross floor area of around 950,000 square meters in locations across 19 cities in China.
• Represented China Life in its formation of a strategic joint venture with ElmTree Funds for the US$950 million acquisition of a commercial real estate net lease portfolio in the U.S.
• Represented China Life in the US$1.65 billion acquisition of 1285 Avenue of the Americas in Manhattan, the highest value New York City office building transaction in 2016. The purchaser consortium was led by RXR Realty LLC., a New York Tri-State Area active institutional owner, manager, and developer. China Life is the single largest investor in the transaction.
• Represented China Life, the largest integrated insurer in China, in its formation of a partnership with Global Logistic Properties (GLP) and two additional leading Asian global institutional investors for the acquisition of a Class-A, state-of-the-art U.S. logistics portfolio valued at approximately US$4.5 billion. This investment marks China Life’s largest outbound real estate investment so far, and is also its insurance division’s first real estate investment in the U.S.
• Represented ICBC International in its formation of a partnership with China Logistics Property Holdings (CNLP), a leading Chinese logistics developer and operator listed in Hong Kong, for the acquisition of a RMB2 billion logistics real estate portfolio which was wholly-owned by CNLP.
• Represented ICBC International in its formation of a partnership with Sino-Ocean Group for the RMB5.38 billion acquisition from affiliates of Sino-Ocean of Ocean Office Park (Beijing). Ocean Office Park (Beijing) is a Grade-A office building located in the core area of CBD, Chaoyang District, Beijing.
• Represented ICBC International in its investment into JD Logistics’ US$2.5 billion Series A financing. JD Logistics is the warehousing and shipping subsidiary of China’s second-largest ecommerce player JD.com. This was one of the largest single financings in China's logistics industry.
• Represented Golden Fortune Company Limited as investor and ICBC Asset Management (Global) Company Limited as investment manager on the investor’s US$75 million investment in the convertible note financing of Uxin, the largest used car e-commerce platform in China.
• Represented China Cinda, in its investment in Glorious Stand and Harmonic Run, which engaged in the operation of themed indoor experience centers under the intellectual property licenses granted by Lionsgate.
• Represented SoftBank Corp on its sale of PPLive, a leading online media company in China, to Suning and Hony Capital for US$420 million.
• Represented China Media Capital in its acquisition of an approximate 47% stake in Star China TV, the controller of the producer of the popular music show Voice of China, from 21st Century Fox, and in its establishment of a holding structure with its LPs and a leading Chinese private equity fund to acquire 20% shares of iMAX China.
• Represented Montana Capital Partners, a Swiss-based investment boutique focusing on attractive niches of the secondary market and high-quality asset management solutions, in an innovative secondary transaction through its investment in the Ping An Global Equity Selection Fund II and Ping An GP Opportunities Fund. The two funds, which together received total capital commitments of US$750 million, are a continuation of Ping An Overseas Holdings’ dedicated investment program focusing on overseas private equity investing.
• Represented syndicate of lenders consisting of SMBC, the Colombian development institution Financiera de Desarrollo Nacional, and the Chinese development bank China Development Bank in financing the development, construction and operation of the 4G road Autopista al Mar 2 in Colombia. The project is being developed by China Harbour Engineering Company (a Chinese state owned enterprise) and the Colombian construction companies S.P. Ingenieros S.A.S., Unidad de Infrastructura y Construcciones Asociadas S.A.S. and Termotécnica Coindustrial S.A.S., and involves approximately US$1 billion in capex, with debt commitments of approximately US$652 million in a dual-currency COP-USD financing. This is one of the first PPP projects to be financed in Latin America with a Chinese sponsor.
• Represented Publicis Groupe in connection with the acquisition of several Chinese private companies in separate transactions.
• Represented Shanghai Electric Group, one of the largest equipment manufacturing conglomerates in China, in its acquisition of 100% equity interest in a Swiss-based environmental technology and service company Clean Technology Universe AG (CTU).
• Represented Touch Media in its Series B-1 and Series C financing transactions.
• Represented Aetos Capital in its offshore and onshore joint venture transaction with Longfor and ING for a US$600 million mixed-use real estate development project in Chengdu, China, and represented the foreign investors of the project in their staged final exit from the investment by a series of transactions with Longfor.
• Represented Birla Carbon, one of the largest manufacturers and suppliers of carbon black globally, in its joint venture investment with International Finance Corporation and a local partner in Jining, China.