Dechert > Hong Kong, Hong Kong > Firm Profile

Dechert Offices

Dechert
31/F Jardine House
One Connaught Place, Central
CENTRAL HONG KONG
Hong Kong
Visit website +852 3518 4700 +852 3518 4777

Dechert > The Legal 500 Rankings

Hong Kong > Banking and finance Tier 3

Dechert's 'commercial and solutions-focused' team acts for lenders, borrowers, private equity sponsors, and corporates, offering expertise across an extensive spectrum of debt finance products, encompassing leveraged and structured finance products. Leading the team is Daniel Margulies, who frequently advises Asian and credit funds on a diverse array of private credit transactions spanning China, Hong Kong, and other Asian markets. Counsel Yang Zhao provides valuable support to Margulies across a variety of financing structures.

Practice head(s):

Daniel Margulies

Other key lawyers:

Yang Zhao

Testimonials

‘Strong execution and extensive client knowledge given prior experiences.’

‘Expert knowledge, deep experience, commercial and solutions-focused.’

Key clients

Alvotech SA

Arkkan Capital

Bain Capital Credit

Barings LLC

Broad Peak Investment Advisors

Morgan Stanley

Nomura

Pacific Century Premium Developments Limited

Pure International (HK) Limited

Tor Investment Management Limited

Work highlights

  • Advised Alvotech SA in connection with its negotiations with its first lien private credit investors and equity holders in connection with its first-of-a-kind dual New York and Iceland initial public offering.
  • Advising a consortium of private credit investors on its US$300m loan to Nixon Investments Pte Ltd., a subsidiary of PT Astrindo Nusantara Infrastruktur Tbk., an energy infrastructure company listed in Indonesia.
  • Advised Broad Peak Investment Advisors on a new money US Dollar super senior facility to Jain International Trading B.V., a subsidiary of Indian listed multinational micro-irrigation, food processing and plastic products conglomerate Jain Irrigation Systems Limited in connection with Jain’s balance sheet restructuring pursuant to a scheme of arrangement in the English courts.

Hong Kong > Investment funds Tier 3

With a strong standalone reputation throughout Asia, and also able to draw upon experts based in other key global fund jurisdictions, including London, Luxembourg and Boston, Dechert is well-positioned to advise regional and international fund managers in the private funds and registered funds space on APAC fund structuring matters seeking investment throughout the globe. ‘Exceptional’ team head Michael Wong is pivotal to the firm’s success in the region, and is noted for his expertise handling work for managers/sponsors, as well as institutional investors, including within the hedge, private equity and crypto funds space. Notably, Wong recently advised a Hong Kong-based manager on what is believed to be South Korea’s first venture debt fund.

Practice head(s):

Michael Wong

Other key lawyers:

Stanley Tiu

Testimonials

‘Dechert’s hedge funds team is truly fantastic, standing out as one of the best I have ever had the privilege to work with. Their professionalism, competence, and unwavering dedication to clients set them apart from others in the industry.’

‘The exceptional Michael Wong provides consistently expert advice with a commercial focus, demonstrating an outstanding commitment to client service.’

Key clients

Greenwoods Asset Management

China Everbright Assets Management

UG Investment Advisors

China Taiping Life Insurance

Astera Capital

Apeiron Capital

Infini Capital

Ping An Asset Management

OCP Asia.

IMM Investment Global

China Ping An Insurance Overseas

China Everbright

China Resources Capital Management

JIC Capital Management

ABC International (Agricultural Bank of China)

Haitong International Asset Management

BOC Life Insurance

China Investment Corporation

Primavera Capital

 

UBS Asset Management

Ping An of China Asset Management

Allspring Investment Management

Hauck & Aufhäuser Fund Services

Charles Schwab Investment Management

Alquity Investment Management

TT International

Franklin Templeton

PIMCO

Harding Loevner

Work highlights

  • Advised Hong Kong-based Korean private equity manager, IMMG, on the formation of IMM Global Venture Opportunity Fund, L.P., a private venture capital fund targeting a final closing of $300m.
  • Advised Hong Kong-based investment manager Fore Elite on the launch of a game-changing crypto management licence and $100m cryptocurrency fund.
  • Advised China Resources on the structuring, establishment and launch of the CR Business Innovation Investment Fund L.P., to acquire certain real estate investment including certain real estate in Hong Kong valued at over HK$900m.

Hong Kong > Regulatory Tier 3

Dechert is best known for the regulatory work it undertakes for funds clients. Michael Wong, who heads up the non-contentious offering, ‘possesses a deep knowledge of the rules and regulations’. As well as handling work within the hedge, private equity, and credit space, Wong is also active in the digital assets space, advising fund managers seeking to gain the relevant regulatory approvals to establish crypto funds in Hong Kong. Maria Sit takes the lead on the contentious front, regularly handling complex regulatory investigations and enforcements, often involving a nexus to China.

Practice head(s):

Michael Wong; Maria Sit

Other key lawyers:

Stanley Tiu; Natasha Shum; Ivan Chik

Testimonials

‘Working with the Dechert team has been an absolute pleasure. Their calm and collected presence, even in the face of unexpected challenges, provides invaluable support and reassurance during critical situations.’

‘Michael Wong together with his team possesses a deep knowledge of the rules and regulations, and their ability to communicate complex new regulations with clarity and precision is truly commendable.’

Key clients

Taiping Trustees Limited

Bercheva Opportunities Ltd

T.Rowe Price

Greenwoods Asset Management

Ping An of China Asset Management

UBS Asset Management

Franklin Templeton

Bank of Singapore

Fore Elite Capital Management

China Universal Asset Management

Work highlights

  • Advised Taiping Trustees Limited on a high-value dispute against entities of the PRC state-owned Bank of Shanghai relating to investments in a Cayman fund and on high-value disputes against entities of the PRC state-owned China Huarong Asset Management relating to investments in a fund.
  • Advised Hong Kong-based investment manager Fore Elite on the launch of a game-changing crypto management licence and $100m cryptocurrency fund, which is one of the first of its kind in Hong Kong.
  • Advised Pioneer Asset Management Limited in securing regulatory approval from the Hong Kong Securities and Futures Commission to manage portfolios that invest and stake proof-of-stake crypto assets.

Hong Kong > Restructuring and insolvency Tier 4

At Dechert, Daniel Margulies leads the restructuring team, and his practice encompasses the representation of ad hoc committees, distressed companies, and creditors in complex restructuring and default contexts. The firm boasts robust ties with clients across Asia, a rapport magnified by Margulies’ prior tenure in Singapore. Drawing upon this background, Margulies provides advice across an array of restructuring transactions spanning diverse sectors, encompassing financial services, energy, and real estate.

Practice head(s):

Daniel Margulies

Other key lawyers:

Dirk Behnsen; Yang Zhao

Testimonials

‘Partners are hands-on and have extensive restructuring experience which is highly invaluable.’

‘Good depth and breadth of experience in restructuring and insolvency matters, as well as special situations financing.’

‘Practical advice and an ability to think outside of the box to deliver solutions and results.’

‘Experience across multiple Asian jurisdictions with borrower types and restructurings.’

‘Daniel Margulies is a very strong restructuring expert across a number of jurisdictions – especially more difficult places like Indonesia. Excellent availability and responsiveness, very legal and commercial reasoning with problem solving skills across special cases and restructurings.’

Key clients

Värde Partners

Argentem Creek Partners

Ares SSG Capital Management

Broad Peak Investment Advisors

Raiffeisen Bank International AG

Nomura Special Situations

Arkkan Capital

TOR Investment Management

Deutsche Bank, Strategic Investment Group

KKR

Alvotech Holdings SA

Madison Pacific

Citadel

Bain Capital Credit

Morgan Stanley Special Situations

Balyasny Europe Asset Management LLP

Work highlights

  • Advised a holder of US$280m 14.5% guaranteed senior notes due 2021 issued by Oceanwide Holdings International Development III Co., Ltd on the issuer’s default and litigation and enforcement strategies in New York and Hong Kong.
  • Advised Yestar Healthcare Holdings Company Limited on its out of court restructuring of its liabilities under New York law governed US$200m senior notes.

Hong Kong > Corporate (including M&A) Tier 5

Dechert’s team acts for a variety of clients, including financial institutions, and energy and logistics companies. The group handles the full gamut of issues, such as de-listings and de-authorisations, and R&E projects. Stephen Chan has a great deal of experience in joint venture formations, proposed IPOs, and investments. Dividing his time between Hong Kong and Beijing, Yang Wang advises a number of corporations, investment firms, and private equity funds on distressed M&A.

Practice head(s):

Stephen Chan; Yang Wang

Testimonials

‘They have a great understanding of the industry and provide actionable advice. They are efficient and are very business oriented.’

‘They are very responsive to client needs and their advice is not only legally based but is very business centric.’

Key clients

Yue Xiu Enterprises (Holdings) Limited

Yuexiu Transport Infrastructure Limited

Yuexiu Property

Yuexiu Services

SML Group

China Financial Services

MIE Holdings Corporation

Nocturne Acquisition

TAG Holdings Limited

Work highlights

  • Advised TAG Holdings Limited (formerly known as the Convoy Group) on US$555 m cross-border SPAC merger with AGBA Acquisition Limited, a BVI-incorporated, Hong Kong-based, Nasdaq-listed SPAC company.
  • Advised Nocturne Acquisition, a Nasdaq-listed SPAC company backed by a Hong Kong-based investment firm, in signing a definitive business combination with Cognos Therapeutics, a medical technology firm.
  • Advised Yuexiu Transport as its Hong Kong counsel in relation to the reconstruction and expansion project of its GNSR Expressway.

China > Corporate and M&A: foreign firms

Dechert‘s China practice has recently been instructed on approximately 100 different corporate matters, most of which involved multi-jurisdictional aspects and complex regulatory issues. Team leader Yang Wang, who divides his time between Beijing and Hong Kong, is experienced in cross-border acquisitions, as well as private equity and venture capital investments.

Practice head(s):

Yang Wang

Key clients

Yue Xiu Enterprises (Holdings) Limited

Yuexiu Transport Infrastructure Limited

Yuexiu Property

Yuexiu Services

SML Group

China Financial Services

MIE Holdings Corporation

Nocturne Acquisition

TAG Holdings Limited

Work highlights

  • Advised TAG Holdings Limited on a $555m cross-border SPAC merger with AGBA Acquisition Limited, a BVI-incorporated, Hong Kong-based, Nasdaq-listed SPAC company.
  • Advised Nocturne Acquisition, a Nasdaq-listed SPAC company backed by a Hong Kong-based investment firm, on signing a definitive business combination with Cognos Therapeutics, a medical technology firm.
  • Advised Yuexiu Transport, as Hong Kong counsel, on the reconstruction and expansion project of its GNSR Expressway.

Client testimonials


CLIENT:
COMPANY/FIRM: Citigroup
TESTIMONIAL: “Dechert consistently provides differentiating legal advice, particularly on large, complex transactions.”

CLIENT:
COMPANY/FIRM: Sun Capital
TESTIMONIAL: “The firm did a great job throughout the entire process. They have been proactive and delivered quality advice. As always, a pleasure working with such a great team.”

CLIENT:
COMPANY/FIRM: Credit Suisse
TESTIMONIAL: “We continually have the highest degree of confidence in the work product and coverage of the Dechert team, and they are always a pleasure to work with.”

CLIENT:
COMPANY/FIRM: Saint-Gobain
TESTIMONIAL: “Saint-Gobain frequently turns to Dechert to defend the company in its most consequential, high-stakes litigation in the United States. Their sophistication, depth of experience, and legal creativity – especially in the area of complex mass tort litigation, is simply unrivalled. When the case is unprecedented and alleged to be perilous, there is no better partner to have in the trenches than Dechert.”

Client Testimonials


COMPANY/FIRM: Citigroup

TESTIMONIAL: “Dechert consistently provides differentiating legal advice, particularly on large, complex transactions.”

COMPANY/FIRM: Sun Capital

TESTIMONIAL: “The firm did a great job throughout the entire process. They have been proactive and delivered quality advice. As always, a pleasure working with such a great team.”

COMPANY/FIRM: Credit Suisse

TESTIMONIAL: “We continually have the highest degree of confidence in the work product and coverage of the Dechert team, and they are always a pleasure to work with.”

COMPANY/FIRM: Saint-Gobain

TESTIMONIAL: “Saint-Gobain frequently turns to Dechert to defend the company in its most consequential, high-stakes litigation in the United States. Their sophistication, depth of experience, and legal creativity – especially in the area of complex mass tort litigation, is simply unrivalled. When the case is unprecedented and alleged to be perilous, there is no better partner to have in the trenches than Dechert.”

Diversity


Leading from the Front

“Actionable allyship moves beyond passive solidarity and requires speaking up or intervening during acts of marginalization, even at the risk of backlash or negative consequences. As catalysts for change, Dechert remains committed to doing our part in fighting systemic racism, social injustice and inequity.”

– Satra Sampson-Arokium, Chief Diversity, Equity and Inclusion Officer

  • Using his voice to take a powerful stand, our Chief Executive Officer, Henry Nassau, published a Leaders at the Front Pledge. His pledge is a bold action plan to create meaningful and measurable changes at Dechert and within the legal industry. Read his pledge here on the Leadership Council on Legal Diversity’s website.
  • In 2021, Dechert became one of the first firms to pilot the Mansfield Rule in the UK. The Mansfield Rule, overseen by Diversity Lab, has become the standard by which U.S. law firms track and measure their diversity.
  • Dechert was the first law firm to sign the Business Statement Opposing Anti-LGBTQ State Legislation, taking a stance against discrimination of LGBTQ people in proposed U.S. legislation.

By the Numbers

  • 43% of the Policy Committee [senior leadership team] are women or diverse partners.
  • 52% of the lawyers most recently promoted to partner [effective January 1, 2022] are women.
  • 44% of our global offices are managed by women or diverse partners.
  • 25% of partners globally are women.
  • 74% of our most recent Fall 2021 class of new associates in the U.S. are women or diverse.

Key Initiatives

Aspiring Solicitors

Dechert is an Affiliate Partner of Aspiring Solicitors (AS). 2021 marks the fifth successful year of Dechert’s sponsorship of the organization’s national Commercial Awareness Competition, with the winners offered a vacation scheme and opportunity to interview for a training contract at Dechert.

Diversity and Inclusion Week

During the firm’s second annual DEI Week, Dechert hosted a conversation with Dr. Makaziwe Mandela, the eldest daughter of President Mandela, who shared insights on her family’s work to bring greater unity to the world. Our community also joined in to connect across differences and inspired each other to take a break by sharing their favorite vacation or staycation photo, making a difference with acts of kindness, and some other lighthearted and fun moments.

Sponsorship and Sustained Support (SASS) Program

Through our Global Women’s Initiative, we continued to identify and implement initiatives that promote opportunities for women to advance and lead throughout the firm. We continued to organize our SASS women into several cohorts led by partner faculty. SASS cohorts are designed to provide support and actionable skills as women continue learning and networking together to navigate the path to partnership.

Inclusive Leadership

Commitment to diversity and inclusion stems from the top. Our partners have been participating in interactive sessions on inclusive leadership since 2018. In 2021, the training expanded to the entire Dechert community. We covered such issues as affinity bias, attribution bias, covering, in and out groups, actionable allyship, unconscious bias, and inclusive leadership in times of crisis. Individuals participate in interactive sessions that center around dramatizations that prompt conversations, challenge stereotypes, and inspire change.


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