Sidley Austin > Hong Kong, Hong Kong > Firm Profile

Sidley Austin > The Legal 500 Rankings

Hong Kong > Capital markets (debt) Tier 2

Sidley Austin's involvement for Chinese real estate issuers in many of the highest-profile offshore high-yield offerings in recent years has subsequently led to a considerable amount of restructuring and liability management exercises as that sector has been impacted by a raft of economic headwinds. The ‘phenomenal’ Renee Xiong has been at the heart of much of this work, including acting alongside the firm’s acclaimed London restructuring team on a number of distressed situations. As well as also being involved in a number of real estate-related restructuring/liability management scenarios, Carrie Li has also handled new bond issuances in other sectors, including her work for the lead managers in relation to China Cinda Asset Management’s issuance of FTZ bonds. Singapore based Matthew Sheridan heads up the overarching Asia capital markets offering.

Hong Kong > Investment funds Tier 2

Drawing upon ‘deep expertise of the local market and regulations’, coupled with the ability to ‘leverage off the expertise and experience from its international offices’, Sidley Austin is a popular choice among international managers on the formation of their Asia-based funds, as well as for regional institutional investors in their capacity as LPs. The balanced nature of the practice, which includes a myriad closed end funds, as well as work for hedge funds, across a variety of asset classes and geographies, has ensured that the team has maintained a vibrant practice in spite of challenging economic conditions and geopolitical headwinds. Team head Effie Vasilopoulos is ‘deeply knowledgeable on Hong Kong regulatory and fund matters’, and is particularly adept at advising on innovative investment fund structures and financial products, including private equity, infrastructure, hedge and credit funds.

Hong Kong > Banking and finance Tier 3

Sidley Austin’s banking and finance practice is noted for its representation of borrowers and extends its expertise to cover leveraged financings, asset-backed finance, sustainable bonds, and pre-IPO financings across diverse sectors, including life sciences, real estate, and energy. The team also boasts a significant proficiency on the lending side, having recently served a portfolio of Chinese banks and corporates in a diverse range of complex financing transactions. Clients appreciate the firm’s cross-border capabilities, lauding that the team ‘works seamlessly across PRC, Hong Kong, Singapore and US offices’. Olivia Ngan is ‘very knowledgeable in banking and financing areas’ and heads up the Hong Kong-based team alongside Daniel Lindsey, who focuses on leveraged and acquisition financing transactions and fund level financings. Other key members include Alan Wong, a primary point of contact for international financial institutions with specific expertise in PRC-related matters, particularly concerning clients in the real estate sector.

Hong Kong > Capital markets (equity) Tier 3

Led by vastly experienced corporate and finance partner Constance Choy, Sidley Austin‘s Hong Kong-based Greater China capital markets is praised for its ‘strong business capabilities and high levels of professionalism’ and ability to ‘work closely with issuers, investment banks and intermediaries’.  As well as handling conventional ECM matters, the firm, which is ‘very farsighted about innovation’, has been at the vanguard of new and reformed listing regimes relating both to SPACs and dual primary listings. The ‘extremely knowledgeable’ Meng Ding, who has a professional background in physics, has been key to these frontier areas, taking the lead on numerous high-profile transactions, including with regard to US capital markets-related de-SPAC and PIPE financing processes. Leveraging strong regulatory ties, Sherlyn Lau is very active handling HKEX IPOs across a wide range of sectors for issuers and underwriters alike.

Hong Kong > Regulatory: anti-corruption and compliance Tier 3

Sidley Austin provides ‘practical, commercial and pragmatic advice’ to clients from a wide range of industry sectors, including asset management, financial services, life sciences, and technology, across a broad array of anti corruption-related matters. Leveraging the firm’s strong presence in other critical offices in the region, the team is best known for its ability to provide a unified, Asia-wide offering to clients engaged in regulatory investigations and enforcements, as well as compliance counselling on inter alia sanctions and AML, and FCPA matters associated with transactional work handled by the firm. In addition, the team is noted for its aptitude at handling mandates which also touch upon UK and US regulatory concerns. Although now both based in Singapore, following their return to the firm after a brief stint at McDermott Will & Emery Singapore LLP, ‘highly intellectual and pragmatic’ co-heads Yuet Ming Tham and Shu Min Ho are both well-versed in anti-corruption matters with a nexus to Hong Kong, having spent many years practising in the country. Stephanie Chan, who joined in February 2023 from Reed Smith Richards Butler LLP, adds firepower to the firm’s offering on the ground in Hong Kong, particularly as it relates to regulatory investigations conducted by regulatory and enforcement authorities, including the HKSE, SFC, and HKMA.

Hong Kong > Regulatory Tier 3

Drawing upon deep regulatory expertise and knowledge in the financial services sector, Sidley Austin is an increasingly popular choice among financial services clients as a result of its ability to ‘render insightful and tailored advice’ across a broad range of contentious and non-contentious matters. Key to the firm’s recent success is the ‘exceptional’ work of Stephanie Chan, who since her arrival with a team of associates from Reed Smith Richards Butler LLP, has galvanised the team’s offering, increasing its visibility across a range of high-profile mandates as a result of her ‘in-depth understanding of the Hong Kong financial regulatory regime’ and ‘experience in handling complex regulatory matters’. Chan’s strength on the contentious front complements that of longstanding team member (and former barrister), Dominic James, who is appreciated, in particular by buy-side clients for his ‘technical knowledge’ and ability to navigate the myriad regulations in the investment management space. Associate Louisa Wong is, like Chan, trilingual and is praised for her ability to deliver ‘clear and relatable advice’, particularly to PRC clients.

Hong Kong > Restructuring and insolvency Tier 3

The Sidley Austin restructuring team operates across both debtor and creditor sides, and has recently played a key role in some of the largest restructurings within the Chinese real estate sector. The firm’s advisory reach extends across diverse industries, encompassing domains as varied as cryptocurrency, medical, and dental facilities. Alongside involvement in sizeable debtor-side mandates, the team has recently also expanded its creditor-side practice, now encompassing acting for White Knights and rescue financing providers. Leading the helm is Gordon Davidson, whose offshore background enhances the firm’s offerings in the Asia region. Davidson’s adept representation spans high-profile restructurings in addition to diverse debt restructuring cases concerning various Chinese developers.

Hong Kong > Dispute resolution: international arbitration Tier 4

Sidley Austin has a strong international arbitration presence in Hong Kong and the wider Asia Pacific, handling many high value bet-the-company cross-border mandates. Catering to an impressive roster of blue-chip clients, Chinese corporate and SOEs, the practice has a particular strength in life sciences, private equity, real estate and financial services. Friven Yeoh heads the international arbitration offering in Asia, conducting high-stake arbitrations under various rules including ICC, HKIAC, CIETAC, SIAC, and UNCITRAL. Commercial arbitration expert Desmond Ang has particular expertise in disputes involving investments with companies in China, Taiwan and Japan. Yan Zhang has also built a solid reputation in the market, particularly in the fields of private equity and life sciences.

Hong Kong > Private equity Tier 5

Constance Choy and Raymond Oh act as joint practice heads at Sidley Austin, which is noted for advising emerging companies on venture capital investments and financings. Choy has broad experience of the real estate, consumer retail, and life sciences sectors. Oh divides his time between Hong Kong and Singapore, advising on a range of issues, including PIPE transactions and pre-IPO investments.

Hong Kong > Corporate (including M&A) Tier 6

Sidley Austin houses a ‘multifaceted professional’ team which has experienced growth in activity surrounding alternative energy vehicle, retail, and professional service related transactions. Practice co-head Constance Choy acts as the APAC managing partner, and has broad expertise in the real estate, financial services, and life sciences sectors. Dividing his time between Hong Kong and Singapore, co-head Raymond Oh is known for his longstanding expertise in advising on joint ventures, private equity fund formation, and both public and private M&A. ‘Stand-out partner’ Christopher Cheng is particularly adept at handling public takeovers and share buy-backs, often advising clients on compliance with listing rules.

India > Foreign firms Tier 3

Singapore > Investment funds: foreign firms

Sidley Austin LLP has a leading presence in hedge fund and regulatory work. The firm is also building its standing in private equity and continues to attract new asset management and institutional investor clients. It has an exceptional record in representing Asia-based fund managers.  Effie Vasilopoulos leads the APAC investment funds team, splitting her time between Hong Kong and Singapore. Counsel Josephine Law is another key figure in Singapore. Han Ming Ho  departed in November 2023.

Asia Pacific: Regional International Arbitration > Leading firms

Sidley Austin has impressive capabilities across the region, with practitioners working in offices in Hong Kong and Singapore on high-value, cross-border mandates. The firm is particularly skilled at bringing in colleagues from other industry groups, including life sciences, restructuring and finance to act on complex multi-disciplinary arbitrations. Splitting his time between Singapore and New York, Tai-Heng Cheng is the co-head of the international arbitration and trade practice, frequently advising companies, boards, and governments on business-related disputes. Friven Yeoh leads the international arbitration practice in Asia, working out of the firm’s Hong Kong and Singapore offices, advising clients on high-value investment disputes. Also in Hong Kong, Desmond Ang and Yan Zhang are key names, with Jennifer Lim playing a key role in the Singapore team.

China > Private equity: foreign firms

Sidley Austin LLP ‘s China private equity team is increasingly active in transactions involving diversified and high-growth sectors, including the likes of cutting-edge technology, education, transport, AI, and internet and e-commerce; being particularly prominent regarding SPAC transactions. Constance Choy jointly leads the practice and is a trusted advisor to major clients in the real estate, life sciences and financial services sectors. Co-head Raymond Oh’s practice is particularly diverse, advising on complex issues concerning pre-IPO investment, PE fund formation, PIPE transactions, start-ups and emerging companies.