Baker McKenzie Wong & Leow's integrated team of funds, regulatory, and tax specialists provide full international and Singapore law across three key classes; venture capital, private equity, and real estate. Venture capital specialist Kelvin Poa represents both GPs and LPs in connection to the formation of funds. Derek Kwan is highly recommended for real estate funds. The team has extensive expertise working in the Asian market, particularly in Hong Kong, Thailand, Malaysia, Korea, and India.
Investment funds: foreign firms in Singapore
Baker McKenzie Wong & Leow
Other key lawyers:
Adams Street Partners
Affinity Equity Partners
Atlas Asset Management
Dream Project Incubators
Dymon Asia Capital
Godrej Fund Management
HPEF Capital Partners
Keppel Capital / Alpha Investment Partners
KWAP (Kumpulan Wang Persaraan (Diperbadankan))
Muang Thai Life Assurance (Fuchsia Venture Capital Company)
PNB (Permodalan Nasional Berhad)
PT Astra International
PTT Public Company Limited
Rising Straits Capital
Siam Cement Group (AddVentures)
Siam Commercial Bank (SCB10X)
Singapore Institute of Technology
Standard Chartered Private Equity
Thai Oil Public Company Limited
Vickers Venture Partners
Clifford Chance's highly reputable funds practice is lauded for bringing a 'wealth of market knowledge to the deal' spanning full coverage across the entire fund lifecycle and is particularly highlighted for its bench strength in private equity, real estate, and infrastructure funds. Managing partner Kai-Niklas Schneider is the go-to expert in the formation of, and investment in a variety of multijurisdictional funds, and for sponsors on accessing the US and EU markets, as well as on regional licensing and securities laws. Daryl Liu was promoted to partner in May 2020 and focuses on international fund mandates. Lena Ng and senior associate Luke Chen are also of note.
‘The Clifford Chance Singapore Funds Team brings a wealth of market knowledge to the deal – being able to site what others in the market are doing. They also are creative and solutions-oriented – working well with the counter-party to drive things to closer in an efficient and cooperative manner without compromising our commercial position.’
‘Kai Schneider and Daryl Liu on several transactions are highly responsive and very commercial lawyers – they bring a collaborative approach to getting deals done in a way satisfactory to all parties.’
ICG Strategy Equity
CBRE Global Investors
Allianz Real Estate
Pierfront Capital Fund Management
Columbia Pacific Management Inc.
CLSA Real Estate
State Street Global Advisors
- Advised Prologis on the formation of its new $1.7bn open-ended China core fund, Prologis China Core Logistics Fund, LP.
- Advising Berkeley Energy on the formation of Africa Renewable Energy Fund II (AREF II), a $500m (target) fund investing in clean and renewable energy projects, assets and project developers in Sub-Saharan Africa.
- Advised ICG on the formation of a $1+bn secondary and primary private equity fund and related spin-out of Standard Chartered Private Equity (now known as Affirma Capital).
Best known for its private equity funds practice, the Singapore office of Akin Gump Strauss Hauer & Feld LLP represents prominent hedge and private equity funds in relation to their investments in Asia, supported by a wide network of global practitioners across multiple offices. Robert Griffin divides his time between the US and Singapore and primarily advises on the formation and operation of funds and other alternative investments in real estate, distressed debt, and venture capital. Olivia Chung relocated from the New York office and is also recommended for US and offshore private equity and hedge funds, as is senior counsel Divya Thakur for investments in India and emerging markets.
Other key lawyers:
The Ocean Fund, LP
- Providing strategic guidance on structuring, documentation and compliance aspects relevant to several investments by The Ocean Fund in companies developing waste management and recycling infrastructure solutions in South and Southeast Asia to prevent the flow of plastics to our oceans.
Dechert is praised for its 'access to international clients, trends, practices, and know-how' and regularly undertakes fund formation work for a range of leading investment companies and fund managers, often working alongside its US offices. Fund restructuring, private equity, venture capital funds, and fund secondaries, acting for sellers and buyers, are core areas of expertise. Dean Collins is, according to one client, a 'treasure trove of information' and is highlighted for his work in structuring and establishment of private equity investment funds and related transactions. Associates Albert Tse and Zachary Oswald are also recommended for credit funds and other alternative investment funds.
‘Dechert’s funds team is in my view the best in the local market bar none. I have worked with all the reputable funds teams and this is the team that has the greatest access to international clients, trends, practices, and know-how. They negotiate effectively and efficiently, and are not shy in telling you when something is not likely to succeed. This allows clients and them to focus on matters which can move the needle.’
‘Dean Collins is the leading fund formation lawyer in Singapore and is not matched, in my opinion, in this space as an individual. Other teams may have more partners, or more associates, but Dean is a treasure trove of information that is immensely valuable to his clients, and has remained available to advise despite his busy schedule.’
Genesis Alternative Ventures
JI Capital Partners
The Norinchukin Bank
SilkRoad Property Partners
CDIB Capital International Corporation
Provident Advisors Ltd
- Acted as lead international counsel to Primavera Capital on the formation of Primavera Capital Fund III, a $3.4bn private credit fund focused on growth capital, buyout and special situations investments in China across various verticals such as the internet and technology, financial services and consumer sectors.
- Counsel for The Norinchukin Bank (Norinchukin) on its sale of limited partnership interests in over 100 funds to various buyers.
- International counsel to EFA Group on the formation of Asia Secured Credit Fund L.P., a $300m private credit fund focused on lending to companies in the natural resources eco-systems in Southeast Asia, Australia and New Zealand.
Jones Day's Singapore funds practice is headed by Dennis Barsky, who expertly utilises his 25 years of experience to represent Asia-based sponsors, investors, and particularly, real estate fund managers, in the formation of private equity funds, REITs, and hedge funds. Ben Witherall was promoted to partnership in early 2020 and regularly works alongside Barsky on top-end mandates. He regularly acts for start-ups, venture capital funds, and investors on their venture fund-raising, IPOs, and investment transactions across a broad spectrum of industries.
Other key lawyers:
Ancora Capital Management Pte Ltd
ARA Asset Management Limited
Asia Capital Real Estate
CBRE Global Investment Partners
Greystar Real Estate Partners, LLC
LaSalle Investment Management
OMERS Administration Corp.
PAG Asia Capital
- Advised Greystar in connection with the establishment of its Asia-Pacific operations and fund platform, and the formation of its first fund vehicle, Greystar China Multifamily Venture I LP, a Singapore-based fund that will acquire and develop multifamily real estate assets in targeted cities in China.
- Advised ARA Asset Management Limited on the formation of its first Southeast Asia hospitality private fund. The Fund has a mandate to invest in hospitality assets in key cities within Southeast Asia countries, including Singapore, Malaysia, Indonesia, Philippines, and Thailand.
- Advised P&G in connection with its investment in The Ocean Fund, LP, a Singapore-based social and environmental impact fund for the purpose of reducing pollution and combating environmental deterioration by providing risk tolerant financing and related assistance to investments in South East Asia.
Matthew Nortcliff heads the funds practice at CMS, which is very active in the technology venture capital funds space and counts global institutions as well as first-time sponsors and start-ups as part of its growing client base. As part of the wider funds group, the Singapore team is instructed on fundraisings of top tier funds in Asia, fund formation, and funds regulatory advice.
Aberdeen Standard Investments
Alter Domus (Singapore)
AP Power (Indonesia)
Arkblu Capital (Indonesia)
Azimuth Global Partners
LaSalle Global Partner Solutions
Ship Street Advisors
UBS Asset Management AG
- Advised Fairway Capital on the establishment, the structuring, formation and closing of FC Property Fund Ltd, a Real Estate Fund focused on the Prime Central London residential market in the UK with an investor-base that includes Asian and Middle-Eastern LPs
- Advised UBS Asset Management on investments in excess of $2.5 billion into Asian, US and global real estate funds as well as advising UBS on strategic co-investments and secondary transactions.
- Advised Peakside Capital in connection with the marketing of Peakside Income Fund I, S.C.S., SICAV-RAIF Singapore, including the regulation of tokenised fund offerings in Singapore.
Dentons Rodyk & Davidson LLP represents a variety of asset management companies, international trustee corporations, private equity investors, venture capital funds, and startups on a full range of funds. The firm is also handling new mandates relating to the set-up of funds under the Variable Capital Company (VCC) regime. Department co-heads I-An Lim and S Sivanesan are the key partners.
‘Quick turnaround time with professional and knowledgeable advice.’
‘Easily accessible and has a strong commercial knowledge of the industry.’
J O Hambro Capital Management Limited
City Developments Limited
- Acted for the fund manager in the establishment of a Singapore domiciled unit trust fund with an AUM of $50m.
- Acted for City Developments Limited in the review of a joint venture agreement and fund establishment.
King & Wood Mallesons
Practice head Will McCosker recently relocated from Sydney to Singapore, strengthening the international funds arm of King & Wood Mallesons. McCosker's practice spans all asset classes with a focus on private equity and venture capital, infrastructure funds, and structured transactions. Having spent several years in the Shanghai office, he is also well versed in Chinese and pan-Asian cross-border investment transactions and structures, and the Chinese financial services regulatory regime. John Sullivan returned to Australia.
‘Very responsive, easy to work with, sound technical knowledge, and practical approach.’
‘Strong commercial lens; ability to tap into the broader international network when required.’
‘The team brings excellent experience, knowledge, and skill level translating into high-quality work and advice. A very collaborative approach, both to working with other teams internally as well as other parties/firms. I really value the culture of the team and the firm and am thankful to have them on our team.’
‘Will McCosker – excellent legal skills, strong commercial lens, willingness to provide a view on issues.’
First Sentier/Colonial First State
New Forests Asset Management
ARA Asset Management
- Acting as lead international counsel in the establishment of an ASEAN focused, Belt and Road Initiative-linked infrastructure investment fund managed by the client with a consortium of PRC limited partners.
- Advising on the establishment and fundraising of client’s second fund targeting financing opportunities for global metals and mining project development and acquisition.
- Advising on the complex restructure of the client’s global infrastructure fund to enable US participation and also acted on the subsequent fundraising for the same fund (with approximately AUD 1 billion raised).
Simmons & Simmons
Simmons & Simmons is a popular choice for fund managers on the formation and launch of offshore and onshore fund vehicles, such as mutual fund companies, SPCs, unit trusts, and limited partnerships. Private funds and retail funds are a key area of specialisation. The team is led by Jek-Aun Long, a regulatory, securities, and investment specialist advising alongside associates Benedict Tan, Aik Kai Ng, and Grace Chong, who are experienced in fintech, fund launches, and annual relodgements and licensing requirements.
‘Experienced and commercial-minded funds practice.’
‘Jek-Aun Long is the engagement and case management partner. He has plenty of experience in funds formation and is hands-on in the delivery.’
BlackRock Global Funds
BlackRock Strategic Funds
BNY Mellon Global Funds, plc
Investec Global Strategy Fund
Lion Global Investors Limited
Foord Asset Management (Singapore) Pte. Limited
- Assisted BlackRock Global Funds with the registration of the Circular Economy Fund (a new thematic sub-fund under the BlackRock Global Funds umbrella) by the Monetary Authority of Singapore for public retail offer in Singapore.
- Assisted BNY Mellon Global Funds with the annual relodgement of its Singapore offer documents with the Monetary Authority of Singapore.
- Assisted Investec Global Strategy with the annual relodgement of its Singapore offer documents with the Monetary Authority of Singapore.