Year of the Monkey

In 2015, the market witnessed its most robust year in over five years in terms of partner movement at Am Law 200 law firms in Asia (please see Representative Partner Moves in 2015) and this trend is set to continue in the Year of the Fire Monkey.  The Hildebrandt Consulting Report and the Citi Private Bank have both released reports stating that the hiring of lateral partners will be a profound element to law firm financial viability and growth this coming year.  This sentiment has been confirmed by our recent discussions with various Hiring Partners throughout Asia.  Many of our law firm clients are keen to grow through accretive and synergistic group, partner and associate hires.  Given the current economic climate, firms’ growing focus on bottom-line profitability and increased due diligence when conducting lateral partner hires, it’s becoming increasing important to work with a recruiter who is keenly aware of these changes.

While there was some doubt as to the profitability of bringing on lateral partners in recent years, firms took the plunge and have been successfully bringing in more lateral partners as the rapid expansion in both breadth and depth of demand for legal services fuels hiring despite a slowing of recent economic growth.  With lateral partner and group hiring metrics changing, it’s also more important than ever to use a trusted recruiter with local expertise on high level searches and awareness of the current trends, past pitfalls, new internal firm protocols driving partner hiring and a comparative viewpoint of successful procedures in place.  Learning from the past, hiring committees are vetting potential lateral partner hires with more discernment and a more focused eye on overall profitability for the firm as a whole versus gross revenue.

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March 10th, 2016

Posted In: Asia Market Watch, China, Deal Watch, Office Openings/ Partner Moves & Promotions, Recent Posts

China

Allen & Gledhill has advised DBS Bank Ltd as the arranger, Deutsche Bank AG Hong Kong Branch as the issuing and paying agent and the Central Moneymarkets Unit lodging and paying agent, Deutsche Bank AG Singapore Branch as the Singapore paying agent, and DB Trustees (Hong Kong) Ltd as the notes trustee and the security trustee, in respect of the establishment of a S$300 million (US$234.78m) multicurrency medium term note program by HanKore Environment Tech Group Ltd. HanKore issued S$50 million (US$39.13m) fixed rate notes due 2015 on 1 August 2013 under the program. DBS was the dealer of the notes. Partners Margaret Chin, Ong KangxinDaselin Ang, and Sunit Chhabra led the transaction. (more…)

August 26th, 2013

Posted In: Asia Market Watch, China, Deal Watch, Hong Kong, India, Japan

China

Allen & Gledhill has advised The Hong Kong and Shanghai Banking Corporation Ltd (HSBC) as sole lead manager and book-runner in respect of Banyan Tree Holdings Ltd’s issuance of S$70 million (US$55.5m) 5.75 percent fixed rate notes due 2018 under its S$400 million (US$317m) multicurrency medium term note program. Partners Yeo Wico and Sunit Chhabra led the transaction. (more…)

August 19th, 2013

Posted In: Asia Market Watch, China, Deal Watch, Japan

China

Mayer Brown has represented Hanergy Holding Group Ltd, China’s largest private renewable energy company, in respect of its US acquisition of Global Solar Energy Inc, a leading manufacturer of copper indium gallium diselenide (CIGS) solar technology based in Tucson, Arizona. Partners Xiangyang Ge and Paul de Bernier led the transaction.

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August 12th, 2013

Posted In: Asia Market Watch, China, Deal Watch, India

China

Baker & McKenzie has also acted as REIT trustee’s counsel for Regal Real Estate Investment Trust (Regal REIT), thru its trustee DB Trustees (Hong Kong) Ltd, in respect of Regal REIT‘s HK$4.5 billion (US$580m) term loan and a HK$300 million (US$38.67m) revolving loan in July 2013, both of which are for a term of approximately 5 years. The new term loan will be used for refinancing the existing term loan facility that will mature on 9 March 2015. The revolving loan will be used for general corporate funding purposes of Regal REIT. Partners Milton Cheng and Andrew Lockhart led the transaction. (more…)

August 6th, 2013

Posted In: Asia Market Watch, China, Deal Watch, India, Japan

China

Latham & Watkins has represented Baring Private Equity Asia and Nord Anglia Education (NAE) in respect of NAE’s acquisition of WCL Group Ltd for an enterprise value of US$222 million and the US$125 million senior secured bridge loan used to partially fund the acquisition. The firm also represented NAE in its US$165 million senior secured note offering used to refinance the bridge loan. The note offering was completed on 3 July 2013. Partners Bryant Edwards and Tim Gardner led the transaction. (more…)

July 29th, 2013

Posted In: Asia Jobs, Asia Market Watch, China, Deal Watch, India, Japan

China

Appleby has acted as Cayman Islands counsel for S Culture International Holdings Ltd in respect of its listing on the Main Board of the HKSE on 11 July 2013, with gross proceeds of approximately HK$107 million (US$136.8m). Partner Judy Lee led the transaction whilst Wilkinson & Grist, Jun He Law Offices, Lee, Tsai & Partners, and MdME Lawyers and Private Notary advised as to Hong Kong, PRC, Taiwan and Macau laws, respectively. Pang & Co, in association with Loeb & Loeb, advised the sole sponsor, RHB OSK Capital Hong Kong Ltd, as to Hong Kong law. (more…)

July 22nd, 2013

Posted In: Asia Market Watch, China, Deal Watch, India, Japan

China

Appleby has acted as Cayman Islands counsel for Jin Cai Holdings Company Ltd in respect of its listing on the Main Board of the HKSE on 5 July 2013, with gross proceeds of approximately HK$72 million (US$9.28m). A majority of the proceeds from the placing will be used primarily for expanding its Huizhou production base and its sales and marketing network. Jin Cai Holdings is principally engaged in the design, printing and sale of cigarette packages in the PRC. Partner Judy Lee led the transaction whilst Loong & Yeung and Shu Jin Law Firm advised as to Hong Kong and PRC laws, respectively. F Zimmern & Co and Hills & Co advised the sole sponsor and underwriters as to Hong Kong and PRC laws, respectively. (more…)

July 15th, 2013

Posted In: China, Deal Watch, Japan

China

Davis Polk has advised China Investment Corporation (CIC) in respect of a block trade by its wholly-owned subsidiary, Chengdong Investment Corporation, of 1.2 billion shares of GCL-PolyEnergy Holdings Ltd. The transaction raised approximately HK$2.24 billion (US$2588.86m). The shares are listed on the Main Board of the HKSE. CIC is a sovereign wealth fund headquartered in Beijing. GCL-Poly Energy is a green energy supplier based in China. It is one of the largest suppliers of polysilicon in the world and also operates large-scale solar farms globally. Partner Paul Chow led the transaction.

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July 8th, 2013

Posted In: Asia Market Watch, China, Deal Watch, India, Japan, Taiwan

China

 

Allen & Gledhill has advised Senoko Energy Pte Ltd in respect of its S$2.6 billion (US$2.04b) term loan facilities arranged by DBS Bank Ltd, Oversea-Chinese Banking Corporation Ltd, Mizuho Corporate Bank Ltd, Sumitomo Mitsui Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ Ltd. The proceeds of the facilities were applied by Senoko on 21 June 2013 towards the refinancing of its indebtedness under its existing repowering facilities, senior facilities and mezzanine bond facilities. Partners Kok Chee Wai and Julie Sim led the transaction. (more…)

July 1st, 2013

Posted In: Asia Market Watch, Deal Watch

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