White & Case > Hong Kong, Hong Kong > Firm Profile
White & Case Offices
16th Floor, York House
The Landmark
15 Queen’s Road Central
Hong Kong SAR
Hong Kong
White & Case > The Legal 500 Rankings
Hong Kong > Banking and finance Tier 1
The ‘very technical and also commercially-minded’ banking and finance team at White & Case stands out for its prowess in cross-border transactions across Greater China and the wider APAC region, boasting the ability to provide advice on US, English, Hong Kong, Singapore, and Japanese law. The team excels as a strong performer in both lender and sponsor-side matters, making it a prime choice for assistance in cross-border structures encompassing leveraged finance, private credit, and pre-IPO finance. Leading the practice is Eugene Man, an expert in structured private debit and credit financing matters who also shines in leveraged financing. Other noteworthy team members include Baldwin Cheng, renowned for his robust affiliations with alternative capital providers and private equity funds throughout Asia, focusing on leveraged and acquisition financings, alongside trade and sponsor loans; Daniel Abercromby, a seasoned lawyer applauded for the breadth of his high-profile financing experience; and Clara Shirota, who splits her time between Hong Kong and Tokyo, and frequently advises private equity funds and other strategic investors.Practice head(s):
Eugene Man; Baldwin Cheng
Other key lawyers:
Daniel Abercromby; Clara Shirota; Manley Leung; Sabrina Lee
Testimonials
‘The team is very much focused on making sure deals get done. They are super-helpful in every way, always willing to go above and beyond, and responsive. They provide a consistent quality of legal advice and deliverables, very technical and also commercially-minded.’
‘Manley Leung is very responsive and always available.’
‘Baldwin Cheng has great commercial sense and is approachable.’
‘Eugene Man has extremely strong knowledge of our business, willing to help with guiding banks and borrowers alike to a reasonable conclusion and a fair deal. Always available and open-minded.’
‘White & Case has an impressive range of clients from banks, private credit funds and PE houses, so they understand their clients and the markets well. The White & Case team is professional and very responsive to the team’s needs. They handle a significant amount of our key deals in Asia.’
‘Daniel Abercromby is a technically strong lawyer, but also very easy to work with and always adds value to a transaction.’
‘Eugene Man handles complex and sophisticated matters as he understands the commercial aspects of deals. Eugene is our first point of contact for ground-breaking matters. He is well-known in the market for his technical skills and gives sound advice at all times.’
Key clients
Advent International
Asian Development Bank
Barclays Bank
BDO Unibank
BNP Paribas
Brookfield Asset Management
Citigroup
CMOC Group Limited
Deutsche Bank
Dignari Capital Partners (HK) Limited
DigitalBridge Group
ICBC International Finance Limited
International Finance Corporation
Oaktree Capital Management
RRJ Capital
TA Associates
Work highlights
- Advised Citigroup Global Markets Asia Limited and Credit Suisse AG as original mandated lead arrangers and bookrunners on the US$1.2bn facilities to Weibo Corporation.
- Advised Citi as sole coordinator and documentation bank (together with other investment banks leading the lender syndicate management and bookrunning processes) in connection with the maturity extension, introduction of sustainability-linked pricing terms, pricing adjustments and other amendments to the US$6.5bn dual-tranche RCF financing for Alipay (Hong Kong) Holding Limited.
- Advised Brookfield Asset Management in respect of the approx. US$327m financing for its acquisition of the Trimco Group.
Hong Kong > Private equity Tier 1
The team at White & Case is known for advising a lucrative client roster of funds, namely CVC Capital, Goldman Sachs, and PAG. Having experienced growth in the digital health and digital infrastructure sectors, the team exhibits deep knowledge surrounding investments and M&A concerning data centers and bioprocessing. Team lead Daniel Yeh is commended for his vast experience in advising sovereign wealth funds and financial investors on take-private transactions. Steven Sha is noted for his broad knowledge of de-SPAC transactions and pre-IPO financings. William Fong regularly assists a number of private equity sponsors with domestic and international divestitures and acquisitions. Having been promoted to partner in January 2023, Tzi-Yang Seow’s practice remains focused on the Southeast Asian region, where he continues to provide expert advice.Practice head(s):
Daniel Yeh
Other key lawyers:
Paul Tang; William Fong; Tzi-Yang Seow; Steven Sha
Testimonials
‘The team is able to provide prompt and effective advice, always on the ball and highly reliable.’
‘Tzi-Yang Seow is a very conscientious partner, constantly making sure that our needs are taken care of, taking into consideration his client’s commercial needs.’
Key clients
AGIC Capital
Brookfield Asset Management
The Carlyle Group
Copenhagen Infrastructure Partners
Creative Artists Agency, LLC
CVC Asia Pacific Limited
DigitalBridge Group, Inc.
Flow Digital Management Pte Ltd
Goldman Sachs (Asia) LLC
Hopu Investment Management Co. Ltd.
Macquarie Capital
Magnum Opus Acquisition Limited
RRJ Capital
Work highlights
- Advised DigitalBridge in its acquisition of a majority ownership stake in AIMS Group.
- Represented Copenhagen Infrastructure Partners (CIP) on the divestment of a 25 percent stake in an offshore wind farm in Taiwan.
- Represented Goldman Sachs (Asia) in multiple investments in Chinese technology, bioprocessing and AI companies.
Hong Kong > Investment funds Tier 2
Blending a ‘unique understanding of US and institutional LP requirements with a knowledge of local Asian markets’, White & Case has developed strong traction among fund managers and investors across a range of alternative investment strategies, traversing asset classes and geographies. Clients also benefit from the team’s ability to effectively co-ordinate resources across the firm’s global network, including in other leading fund centres, including London, New York and Luxembourg. Team head Anthony Wong has ‘deep expertise and experience across all aspects of fund formation’, including as it relates to hedge fund, credit fund and private equity structures, as well as on secondary transactions and work for sovereign wealth funds as institutional investors.Practice head(s):
Anthony Wong
Other key lawyers:
Ilan Wong
Testimonials
‘They are thoughtful with their responses, and in evaluating fund terms and our bargaining power.’
‘They helped us through the whole process of setting up our new VC fund. The unique part of their service was that they were able to co-ordinate with experts from different markets within their firm network to answer all the questions that our potential LPs from all over the world were asking.’
‘Anthony Wong has extensive knowledge of the China, US and global hedge fund industry. You can tell from working with Tony that he has years of experience and good grasp of the industry dynamics.’
‘Deep expertise and experience across all aspects of fund formation.’
‘They blend a unique understanding of US and institutional LP requirements with a knowledge of local Asian markets.’
‘Anthony Wong gathered all the necessary resources, suggested the ideal structure, and smoothly helped us set up my fund. Whenever I had any questions, concerns, or when I received requests from potential LPs, he was always able to provide me with the ideal suggestion.’
‘Anthony Wong has deep expertise and experience across all aspects of fund formation. He is extremely capable and sophisticated in handling very complex, time sensitive, multiple party/agendas type negotiation process.’
Key clients
ADM Capital
Aquilius Investment Partners
ESR Nogumi Cryptos Capital
PAG
Vortex Energy
Work highlights
- Represented Aquilius Investment Partners, in its fundraise for its flagship fund, AIP Secondary Fund I Limited Partnership.
- Represented gumi Cryptos Capital (gCC) in the establishment of gumi Cryptos Capital II, a $110m fund to focus on early stage blockchain startups, targeting investments in both equity and tokens.
Hong Kong > Capital markets (debt) Tier 3
Led from Hong Kong by Jessica Zhou and able to call upon additional resources on mainland China and Singapore, in particular, White & Case provides a compelling offering to issuers and underwriters on international DCM mandates throughout the region. Among its recent highlights, the team advised issuers and investors in a number of private placement, liability management, and restructuring transactions.Practice head(s):
Jessica Zhou
Other key lawyers:
Xuan Jin
Key clients
BOC International
China Merchants Securities (HK) Co., Limited
China Zheshang Bank Co., Ltd.
CLSA
CMB International Capital Limited
Credit Suisse
Deutsche Bank
Fosun Hani Securities Limited
Guotai Junan Securities (Hong Kong) Limited
Haitong International Securities
HSBC
Huatai Securities
Industrial Bank Co., Ltd.
Maxeon Solar Technologies, Ltd.
Peng Ying International Development Company Limited
UBS
Valuable Capital Limited
Work highlights
- Advised Maxeon Solar Technologies, Ltd. in its issuance and sale of $207m Convertible First Lien Senior Secured Notes.
- Advised Haitong International Securities Group Limited on the issuance of its $200m subordinated perpetual securities, which represents the issuer’s first subordinated perpetual securities.
- Advised UBS and Guotai Junan Securities (Hong Kong) Limited as the financial advisors in the exchange offer and consent solicitation and the subsequent reopened exchange offer by Zhongliang Holdings Group Company Limited of its two tranches of notes due 2022 with aggregate principal amount of $729.3m.
Hong Kong > Corporate (including M&A) Tier 3
The team at White & Case acts for a varied client roster, which notably includes Cathay Industries, Copenhagen Infrastructure Partners, and Petronas. In the past year, the group has experienced an increase in activity surrounding investments by global sponsors into energy transition and digital infrastructure. ‘Extraordinary strategist’ Christopher Kelly heads the practice, and is known for his longstanding expertise in transactions within the energy transition space across Asia, regularly assisting infrastructure funds with M&A. Daniel Yeh leads on the private equity side, advising sovereign wealth funds and manufacturing companies on co-investments and M&A, and Paul Tang predominantly advises private equity-backed portfolios and sponsors on investments in China, in addition to overseas acquisitions.Practice head(s):
Christopher Kelly
Other key lawyers:
Daniel Yeh; Paul Tang; Steven Sha; Shifeng Ni
Testimonials
‘Steven Sha and his team are efficient and very commercial.’
‘Partners have deep cross-border experience in Asia but also a global network when required.’
‘The team are very customer focused. They take time to understand the client’s perspective. I appreciate that their advice is delivered timely, and always with the client’s specific needs and position in mind.’
‘The White & Case Team ensures that the clients have access to the best industry expertise available in their global network. As a client, I always feel assured that I have the best minds and experts availed to advise me each step of the way.’
‘Christopher Kelly is brilliant. Extraordinary strategist in his approach, provides impeccable delivery of advice, and is a stand-out negotiator. An experienced lawyer who knows how best to drive a transaction to deliver results. Chris’ commitment is very much valued.’
Key clients
Cathay Industries
China Molybdenum Company
Copenhagen Infrastructure Partners
DigitalBridge Group, Inc
Flow Digital
GIC Private Limited
Hopu Investment Management Co. Ltd.
Macquarie Capital (Singapore) Pte. Limited
Magnum Opus Acquisition Limited
Petroliam Nasional Berhad (Petronas)
WizRocket, Inc.
Work highlights
- Advised Magnum Opus Acquisition Limited on its US$2.5 bn merger agreement with Asia Innovations Group Limited.
- Advised CMOC Group (formerly China Molybdenum Co., Ltd.) on the sale of 25% equity interest in KFM Holding Limited.
- Advised Cathay Industries in its carve-out acquisition of Venator’s iron oxide business.
Hong Kong > Restructuring and insolvency Tier 3
The sizeable six-partner practice at White & Case advises creditors on the full spectrum of restructuring and insolvency matters, many of which involve cross-border intricacies. The team effectively leverages its American origins to offer advice on US insolvency matters to companies connected to China and other Asian countries, while also frequently tapping into its expertise in emerging markets, including Indonesia, India, the Philippines, and Thailand. Eugene Man spearheads the team and focuses on advising corporates and banking clients, encompassing diverse transactional aspects, such as M&A deals and financing matters. Sophie Lyall joined the firm from Ashurst in September 2023, bringing in considerable experience in large-scale cross-border restructuring matters in relation to loan and public or private bond debt.Practice head(s):
Eugene Man
Other key lawyers:
Baldwin Cheng; Jessica Zhou; Maggie Chan; Manley Leung; Sophie Lyall
Key clients
China Cinda (HK) Asset Management Co., Limited
Deutsche Bank AG
Ernst & Young
RRJ Capital
Work highlights
- Advised RRJ Capital on its recapitalisation buy-out merger of Singapore-based Fullerton Healthcare Corporation Limited.
- Advised Ernst & Young Transactions Limited and EY Cayman Ltd, the joint official liquidators of a Cayman entity previously listed in Hong Kong, Chong Sing Holdings Fintech Group Limited (In Official Liquidation).
- Advised UBS AG Hong Kong Branch and Guotai Junan Securities (Hong Kong) Limited as the financial advisors on Zhongliang Holdings Group Company Limited’s exchange offer and consent solicitation of the senior notes.
Hong Kong > Structured finance and securitisation Tier 3
White & Case represents a wide array of clients in both international and local derivatives matters, spanning pivotal markets across the Asia-Pacific region. The team’s prowess is notably showcased in its coverage of derivatives designed for investment and hedging objectives, particularly excelling in equity-related transactions, with key engagements involving leading banks such as Credit Suisse. Leading the team is the ‘proactive and very diligent’ Nathaniel Crowley, who boasts significant expertise in OTC derivatives, structured finance, and a range of lending transactions. Further bolstering the team is Xuan Jin, whose specialisation in debt capital markets is accentuated by niche proficiencies in sustainable finance and Islamic finance. This wide-ranging skill set extends beyond his representation of financial institutions to encompass sovereign entities, a testament to Jin’s versatile capabilities.Practice head(s):
Nathaniel Crowley
Other key lawyers:
Testimonials
‘Very good structured products and repackagings experience.’
‘Nathaniel Crowley is very proactive and very diligent.’
Key clients
Asian Infrastructure Investment Bank
Australia New Zealand Banking Corporation
BNP Paribas Hong Kong
Charoen Pokphand Group
Credit Agricole Corporate and Investment Bank
Credit Suisse Hong Kong Branch
EIG Global Energy Partners
SMBC Hong Kong Branch
Societe Generale Hong Kong
Timemerchant Capital
Work highlights
- Advising MidOcean Energy on its proposed acquisition of Origin Energy Limited in consortium with Brookfield Transition Fund.
- Advised Asian Infrastructure Investment Bank on its investment in US$404.8m Infrastructure Asset-Backed Securities sponsored by Hong Kong Mortgage Corporation.
- Advised BNP Paribas as sole arranger, initial purchaser and swap counterparty on a Korean credit card securitisation in respect of assets originated by Hyundai Card Co. Ltd.
Hong Kong > Dispute resolution: litigation
China > Banking and finance: foreign firms
‘Highly focused on making sure deals get done‘, White & Case LLP is consistently involved in sizeable Greater China finance transactions, and in addition to the firm’s widely respected lender-side work, the practice has significant borrower financing capabilities. The team is also increasingly active on behalf of alternative capital providers. In Beijing, David Li focuses predominantly on China inbound and outbound financing deals, and associate Cherry Zhou acts for Chinese and international financial institutions and borrowers on acquisition, corporate and project finance transactions. Over in Shanghai, senior consultant Frank Shu is experienced in acquisition, structured and real estate finance. Hong Kong-based Eugene Man, an expert in leveraged financing and structured private debt, leads the Asia-Pacific banking and capital markets practice, and Baldwin Cheng, who actively contributes towards the development of the firm’s sponsor-side financing practice, routinely acts for alternative capital providers and private equity funds.Practice head(s):
Eugene Man
Other key lawyers:
David Li; Baldwin Cheng; Frank Shu; Cherry Zhou; Manley Leung
Testimonials
‘The team is highly focused on making sure deals get done.’
‘Super-helpful in every way, always willing to go above and beyond, and responsive.’
‘They provide consistently high-quality legal advice – very technical and also commercially minded.’
‘Flexible on billing practices, and a strong bench of partners, counsel and associates.’
‘Eugene Man is extremely knowledgeable, and able to help banks and borrowers alike achieve fair deals. Always available and open-minded.’
Key clients
Advent International
Asian Development Bank
Barclays Bank
BDO Unibank
BNP Paribas
Brookfield Asset Management
Citigroup
CMOC Group
Deutsche Bank
Dignari Capital Partners (HK)
DigitalBridge Group
ICBC International Finance
International Finance Corporation
Oaktree Capital Management
RRJ Capital
TA Associates
Work highlights
- Advised International Finance Corporation, Asian Development Bank, Deutsche Investitions- und Entwicklungsgesellschaft, and Société de Promotion et de Participation pour la Coopération Economique on a $150m syndicated blue loan for Bank of Qingdao.
- Advised CMOC Group on a groundbreaking $600m bridge and five-year pre-export financing, arranged by China Construction Bank (Asia) Corporation.
- Advised RRJ Capital on its recapitalisation buy-out merger of Singapore-based Fullerton Healthcare Corporation.
China > Private equity: foreign firms
Leveraging the firm’s in-depth expertise in sponsor finance, public M&A and IP, White & Case LLP’s private equity team in Greater China boasts an impressive roster of global clients such as Carlyle, CVC, Goldman Sachs and LionRock; global co-head and head of Asia PE Daniel Yeh is a key contact in Hong Kong for these powerhouses. As well as the gamut of PE areas, the practice offers an extensive range of sector specific expertise that covers consumer and retail, telecoms, digital infrastructure and renewable energies. China head Alex Zhang splits his time between Shanghai and Beijing, being particularly well regarded for handling both inbound and outbound transactions with multi-jurisdictional issues. Christopher Kelly is another key contact in Hong Kong and regularly acts for major sponsors, being especially strong in Asia’s energy transition industry. William Fong primarily advises PE sponsors and their portfolio companies on cross-border M&A and divestitures with a Chinese nexus.Practice head(s):
Alex Zhang; Daniel Yeh
Other key lawyers:
Vivian Tsoi; Christopher Kelly; Steven Sha; William Fong; Tzi-Yang Seow; Amy Yang; Yan Yan
Key clients
AGIC Capital
Brookfield Asset Management
The Carlyle Group
Copenhagen Infrastructure Partners
Creative Artists Agency, LLC
CVC Asia Pacific Limited
DigitalBridge Group, Inc.
Flow Digital Management Pte Ltd
Goldman Sachs (Asia) LLC
Hopu Investment Management Co. Ltd.
Macquarie Capital
Magnum Opus Acquisition Limited
RRJ Capital
Work highlights
- Advised long-standing client RRJ Capital on its $645m recapitalisation buy-out merger of Singapore-based Fullerton Healthcare Corporation Limited.
- Advised a global sovereign wealth fund on its investment in a pre-IPO financing round of a biopharmaceutical company with businesses and operations in the PRC and the subsequent secondary purchase of shares of from other shareholders.
- Advised a leading private equity firm with dozens of $billion in AUM on its sale of oil & gas assets in China.
China > Regulatory/compliance: foreign firms
The corporate investigations team at White & Case LLP advises multinationals on their Chinese operations and any challenges they may face, such as regulatory and criminal enforcement, investigations and associated civil claims. A stand-out area of the practice is its expertise in parallel investigation proceedings in response to cross-border inquiries by regulatory authorities. Bingna Guo leads the team from Beijing, and is an expert in compliance investigation and litigation. Guo is well-versed in the FCPA, Chinese anti-bribery and anti-corruption laws, and the UKL bribery act, making her a go-to for firms with multijurisdictional compliance matters. James Hsiao provides key support, and handles international anti-corruption investigations, international arbitration, and commercial litigation from Hong Kong.Practice head(s):
Bingna Guo
Other key lawyers:
Key clients
Goldman Sachs Asset Management
Goldman Sachs (Asia)
Jio Platforms
Cloopen Group Holding
Work highlights
- Represented the special committee of Cloopen in internal investigations related to allegations regarding related party transactions and accounting irregularities.
- Represented Goldman Sachs (Asia) in multiple compliance matters related to investments in Chinese targets involving highly complex new technologies.
- Represented the audit committee of a US-listed China-based online commercial logistics platform to conduct an independent investigation related to allegations regarding alleged inflation of financial data.
White & Case > Firm Profile
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Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Daniel Abercromby | Partner | View Profile | |
Baldwin Cheng | Partner | View Profile | |
Nathaniel Crowley | Local Partner | View Profile | |
William Fong | Partner | View Profile | |
Paulina Ho | Counsel | View Profile | |
James Hsiao | Local Partner | View Profile | |
Xuan Jin | Counsel | View Profile | |
Christopher Kelly | Partner | View Profile | |
Eugene Man | Partner | View Profile | |
Shifeng Ni | Local Partner | View Profile | |
Tzi-Yang Seow | Partner | View Profile | |
Steven Sha | Partner | View Profile | |
Paul Tang | Partner | View Profile | |
Anthony Wong | Partner | View Profile | |
Ilan Wong | Partner | View Profile | |
Daniel Yeh | Partner | View Profile | |
Jessica Zhou | Partner | View Profile |
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