Milbank > Hong Kong, Hong Kong > Firm Profile

Milbank > The Legal 500 Rankings

Hong Kong > Banking and finance Tier 2

The addition of Davide Mencacci and John Bona has significantly boosted Milbank’s presence in the market, effectively capitalising on the firm’s extensive finance capabilities across the US and Europe to the benefit of a clientele with a focus on lenders. Mencacci, who leads the practice, holds strong and longstanding relationships on both the creditor and debtor side, frequently advising private equity firms, investment banks, lenders, and credit funds. Bona’s arrival, aligned with a focus on private equity, has propelled the firm’s leveraged and acquisition practice to a prominent position in the market. Both lawyers have recently been involved in valuable creditor-side work across Asia and Europe, securing roles on prominent LBO transactions in the Asian market and bringing their sophisticated expertise in European and NY financial products to Asian creditors. The team’s proficiency across a wide range of financial products, including bank/bond, bridge to bond, unitranche, and processes involving the US Term Loan B market, is another notable advantage, offering a level of adaptability highly sought after in the market.

Hong Kong > Capital markets (debt) Tier 2

The ‘professional and efficient’ team at Milbank handles a range of DCM work for issuers and underwriters both in relation to Hong Kong and China, as well as across numerous other Southeast Asian capital markets regimes. Alex Tao has been pivotal to growing the amount of China-related work handled by the firm and since arriving in mid-2020 has effectively targeted real estate high yield issuers, as well as handling an increasing volume of investment grade mandates. James Grandolfo co-heads the team alongside Tao and continues to thrive on behalf of underwriting banks, in particular, on Philippines-related DCM work.

Hong Kong > Private equity Tier 3

The team at Milbank is known for handling a broad range of issues for investors in a number of industries, including financial services, e-commerce, and telecoms. Praised for being ‘solid and dependable', Andrew Whan has longstanding expertise in advising clients on public take-private deals concerning unicorn companies, and digital infrastructure transactions in the Philippines. Neeraj Budhwani is a ‘strong lawyer' who is noted for his expansive knowledge in leveraged buyouts, PIPE disposals, and structured exits, often acting for investment banks and private equity funds.

Hong Kong > Projects and energy Tier 3

Based across Beijing and Hong Kong, Milbank's projects team acts for Chinese and international companies, excelling in providing representation for lenders and sponsors across South America, Europe, Africa, and Asia. The team also plays a role in the decarbonisation of the industry, advising on a number of government ventures to advance renewables projects. Leading the team are Desiree Woo, focusing on power generation and natural resources, and Beijing-based Shephard Liu, who is especially prominent in acting for Chinese lenders and export credit agencies. Both admitted to practice in New York, associates Jenny Zhang and Marco Ying are also notable members of the practice.

Hong Kong > Capital markets (equity) Tier 4

Under the leadership of James Grandolfo, Milbank has developed a strong and successful practice advising issuers and underwriters on capital markets work in various venues throughout Southeast Asia. On the ECM front, the ‘personable, professional, relentless and trustworthy’ Hong Kong team has been particularly active advising on Philippines-related work, with the ‘outstanding’ Paul Pery and counsel Ari Singzon key members of the team.  

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

Milbank’s ‘deeply experienced' team handles a broad range of private equity driven transactions across the Southeast Asian region, with an emphasis on the healthcare, e-commerce, and leisure and lifestyle product sectors. ‘Highly skilled advisor' Andrew Whan co-leads the team alongside Neeraj Budhwani. Whan primarily focuses on transactions within the telecoms sector, and often acts for private equity funds and corporates in take-privates; and Budhwani handles numerous leveraged buyouts and public to private transactional matters, with emphasis on the financial services sector. James Grandolfo is noted for having broad knowledge spanning SPAC mergers, and de-SPAC issues within the consumer goods and banking sectors. Dual qualified in the US and the Philippines, Paul Pery assists clients with issues relating to US securities law, with a strong focus on the oil and gas sector within the Philippines, Singapore, and India.

Philippines > Foreign firms Tier 1

Milbank covers the full spectrum of transactional work involving the Philippines from corporate and capital markets work to advising on major projects, which often have a significant cross-border dimension. Clients include top international financial institutions, and the firm regularly acts for the sponsors and lenders on these landmark deals. Hong-Kong-based James Grandolfo has a wealth of experience in capital markets, M&A, and private equity matters across Asia, and leads the team together with James Murray, who is based at the Singapore office and is particularly active in the Philippines on major power projects. Paul Pery plays a pivotal role in significant capital markets transactions. Another notable member of the practice is Desiree Woo who is active in the project, energy and infrastructure finance group and is based at the Hong Kong office.

China > Projects and energy: foreign firms

Milbank has established a robust presence in representing both commercial banks and state-owned entities, including acting for Chinese export credit agencies in projects spanning Latin America, Africa, and Europe, and acting for project companies and contractors across regions like Europe, the Middle East, and parts of Asia. Shepard Liu, a ‘true leader’ renowned for his work with Chinese lenders and export credit agencies, heads the practice. Desiree Woo, operating from the Hong Kong office, handles matters involving Chinese sponsors and financial institutions across Asia with ‘professionalism, efficiency and effectiveness’, and extends her expertise to sponsors in Southeast Asia. Associate Jenny Zhang brings to the table her vast experience in advising various project participants in large-scale infrastructure projects across oil and gas, transportation and other sectors. Recent addition Associate Marco Ying, formerly of White & Case Hong Kong, has a strong background in infrastructure finance, representing a wide spectrum of clients from international banks to private equity sponsors.

India > Foreign firms

Acting for global financial institutions and domestic and international companies in the steel, energy, and infrastructure sectors, Milbank’s India practice stands out for its expertise in capital markets, projects, and financing work. Practice co-head James Grandolfo, in Hong Kong, has a broad debt and equity practice and leads on corporate and M&A instructions, while co-head John Dewar takes point on project finance from the firm’s London office. In Singapore, Giles Kennedy and new partner Terrence O’Donnell are recommended for their IPOs, share placements, and high-yield bonds expertise.

Vietnam > Foreign desks

Milbank’s 9-strong Vietnam practice, jointly led by Jacqueline Chan in Singapore alongside Hong Kong-based James Grandolfo, has considerable experience handling high-end transactions in Vietnam. The firm has a strong presence in the Asia Pacific region, including in Singapore, Hong Kong, Beijing, and Tokyo, and continues to gain traction in Ho Chi Minh City, specialising in energy and infrastructure, capital markets, technology, aviation, and commercial mandates. Chan regularly acts for financial institutions, corporates, investment funds, and private equity funds in relation to cross-border matters throughout Asia. With capital markets, M&A, and private equity expertise, Grandolfo heads the firm’s Hong Kong office and having helped launch the firm in the Philippines, is now active in Vietnam.