Firms To Watch: Investment funds: foreign firms

K&L Gates Straits Law LLC’s investment funds practice in Singapore largely centres on institutional investors and limited partners, such as the Asian Development Bank, in their investments into private funds. Edward Bennett has a growing reputation in the market. Jason Nelms joined in January 2024 from Morrison Foerster (Singapore).
Morgan Lewis Stamford LLC reinvigorated its Singapore investment funds practice with the hire of former Akin senior counsel Divya Thakur as a partner in October 2022. Her team has a primary focus on emerging markets, especially India, Southeast Asia and Latin America. It is making a further impression in impact funds and has an impressive mix of fund managers and institutional investor clients.

Investment funds: foreign firms in Singapore

Baker McKenzie Wong & Leow

Baker McKenzie Wong & Leow represents a range of established and growing fund managers and investors across Southeast Asia. It is known for its expertise in real estate, private equity and venture capital, along with its burgeoning presence in credit funds. With its strong emphasis on real estate funds, it has developed extensive experience in data centre and logistics funds. It has also achieved further growth in clients from Thailand and Malaysia. Kelvin Poa and Derek Kwan co-head the Singapore investment funds team, which includes local principal Jens Carle, who is noted for bespoke club deals and global discretionary funds.

Praxisleiter:

Kelvin Poa; Derek Kwan


Weitere Kernanwälte:

Jens Carle; Wei Sheng Lau


Referenzen

‘The Bakers team function as our ‘in-house’ lawyers and guide us through legal issues related to fund documentation as well as on specific investments made by the fund. The same team of lawyers has been with us since inception of our business, and they understand our requirements very well. They are very thoughtful and clearly outline the benefits and risks on issues. Turnaround time on issues is very good.’

‘Our key point of contact is Kelvin Poa. He has been taking care of the legal needs of our business since inception, helping us think through structures for the fund. Kelvin is knowledgeable, thorough and reliable. We get very good service and advice from him. He understands our business and requirements and this is factored into the outputs. Turnaround time is very good.’

‘The team is cohesive and works at pace. They are well-led and thoroughly commercial with a good understanding of which points are nice to have rather than essential. When work passes between them due to leave or other work demands, the handover has been seamless and this has also been the case when a team member has left the firm.’

Kernmandanten

ESR Group


Gaw Capital Partners


Keppel Capital and Alpha Investment Partners


Vertex Ventures


Vickers Venture Partners


Godrej Fund Management


Eastbridge Partners


Gateway Partners


500 Global


APG Asset Management (APG)


Sime Darby Property


Adams Street Partners


Kumpulan Wang Persaraan (Diperbadankan) (KWAP)


Siam Commercial Bank, together with SCB 10X


PTT Public Company Limited


Highlight-Mandate


  • Acted as the international and Singapore counsel to ESR on the formation of ESR Data Centre Fund I, ESR’s first data centre focused private fund.
  • Acted as the international and Singapore counsel to AIP, the private real estate fund management arm of Keppel Capital, on the formation of Keppel Data Centre Fund II.
  • Acted as the international, Singapore and tax counsel to Vertex  Ventures on the formation of Vertex SEA Fund V.

Clifford Chance

Clifford Chance has devoted considerable resources and senior expertise to its thriving investment funds practice. It represents a long list of regional and international fund managers, along with a number of sovereign wealth funds and other institutional investors. It has a primary focus on private funds, with additional expertise in retail funds and regulatory matters. US qualified Kai-Niklas Schneider, ‘the most genius lawyer in the universe’, is a long-serving partner in Singapore, who has built a fine reputation in private equity, real estate, infrastructure funds and credit funds. Daryl Liu is Singapore qualified and another pivotal member of the team. Lena Ng leads the financial regulatory practice in Singapore, while Luke Chen and Chloe Cheng are key figures at counsel level.

Praxisleiter:

Kai-Niklas Schneider; Daryl Liu


Weitere Kernanwälte:

Lena Ng; Chloe Cheng; Luke Chen


Referenzen

‘Awesome team, always responsive and creative with solutions.’

‘Kai-Niklas Schneider is the most genius lawyer in the universe. I have never met as creative, fast, business minded lawyer who really focuses on his client’s needs and even budget.’

‘Strong capabilities in Singapore for funds, tax and carbon markets. Very responsive, commercial and client-focused.’

Kernmandanten

ESR Singapore


Pierfront Capital


MEC Global Partners Asia Pte. Ltd.


Export–Import Bank of China


Highlight-Mandate


  • Advised ESR on the successful first closing of ESR Japan Income Fund, a US$750 million open-ended fund investing in core logistics assets in Japan with commitments from several institutional investors.
  • Advised Pierfront Capital on the formation and subsequent closing of a US$700 million real asset private credit fund focused on providing debt solutions to corporates or projects in the real asset sectors across Asia-Pacific.
  • Advised MEC Global Partners Asia Pte. Ltd. as fund manager in respect of GIC’s US$150 million investment into MECGPA’s pan-Asian open-ended core plus fund, and the formation of GIC’s US$150 million sidecar vehicle that will invest alongside the fund.

Dechert

Dechert is a global leader in investment funds and has a substantial team in Singapore led by the immensely experienced and highly-rated Dean Collins. The senior bench was further deepened by the promotion of Thomas Kim to the partnership in January 2023; Kim is now leading a high proportion of the office’s top engagements. The team is at the forefront of private funds, including private equity and private credit funds. The office also has a major presence in fund secondaries and continuation funds, and has a burgeoning record in ESG-related funds and sustainable strategies. The Singapore team is able to work alongside colleagues in virtually all international fund centres, particularly in relation to large global fund raisings and on global regulatory issues.

Praxisleiter:

Dean Collins; Thomas Kim


Referenzen

‘A great team to work with. A very good balance between availability, response time, and technical knowledge. With extensive experience in the sector in which advice was provided (a start-up fund) the team was able to advise quickly and with authority on what was common practice and customary in the marketplace.’

‘We worked with Dean Collins and Thomas Kim. Thomas was stood out in terms of responsiveness and quality of advice – as senior associate and as partner.’

‘Experienced individuals who work well together as a team. Very responsive to client needs and flexible when working on first time or more innovative funds.’

Kernmandanten

Capital Square Partners Management


Dymon Asia Private Equity (Singapore)


Bank of Singapore


Akaria Natural Capital


Clime Capital


Primavera Capital


Silkroad Property Partners


Openspace Ventures


Genesis Alternative Ventures


KV Asia Capital


The Sylvan Group


Panthera Growth Partners


Highlight-Mandate


  • Assisted Capital Square Partners Management on the formation of a circa $700m fund involving the acquisition of certain portfolio assets from certain earlier vintage funds managed by Capital Square Partners and Basil Technology Partners.
  • Advised Dymon Asia Private Equity (Singapore) on the final close of Dymon Asia Private Equity (SE Asia) Fund III.
  • Assisted Akaria Natural Capital, an impact-first fund management company, on the formation of a $250m carbon offset unit fund investing into natural climate solutions in Southeast Asia.

Gibson Dunn

Gibson Dunn launched a marquee practice in Singapore in 2022 with the relocation of leading name John Fadely from Hong Kong. Fadely represents some of the biggest regional and international fund sponsors in the market and has a reputation for mega fund formations valued in excess of $1bn. Although now based in Singapore, Fadely continues to work closely with the Hong Kong team. The Singapore and wider-Asia group has further developed its presence in the secondaries market, especially in China, Japan and South Korea, along with India. The team is also involved in major disputes, working alongside litigator colleagues. Singapore associate Xuanyi Liu is a ‘top-tier lawyer’.

Praxisleiter:

John Fadely


Weitere Kernanwälte:

Xuanyi Liu


Referenzen

‘Gibson Dunn is an exceptional firm with talented lawyers. Not only are they commercial and able to appreciate the deal dynamics, they are able to provide sound advice that is practical and reasonable. They are an absolute pleasure to work with.’

‘Xuanyi Liu is an exceptional individual who is not only knowledgeable about both GP-led and LP-led secondaries, but also experienced and practical in giving advice. He is a top-tier lawyer who understands the commercials of a deal and able to appreciate where various parties are coming from. Definitely a stand-out individual.’

‘The Gibson Dunn team is easy to recommend for complex, high-profile and high-value transactions given their significant experience, sophistication and near-constant availability.’

Kernmandanten

ADV Partners


AGIC Capital


Anchor Equity Partners


Asia Partners


BAI Capital


Boyu Capital


C2 Capital Partners


Capital Today Group


CDIB Capital


CLSA Capital Partners


Crescendo Equity Partners


DCL Investments


DCP Capital


EQT Exeter


East Ventures


Elliott Management


Falcon House Partners


Glenwood Private Equity


Global Infrastructure Partners


Hahn & Company


Hereditas Capital


IMM Investment


JP Morgan Asset Management


Legend Capital


Lupa Systems


Lupin Capital


Maison Capital


PAG


Republic Asia


Starcrest Capital Partners


Temasek


The Longreach Group


Trustar Capital Partners (formerly CITIC Capital)


Trustbridge Partners


Akin

Akin has one of the most established investment funds teams in the Singapore market. Prominent figure Olivia Chung has driven the team forward, garnering recognition for its representation of some of the largest private equity sponsors in India. It is also noted for advising large institutional investors, including sovereign wealth funds, in Asia Pacific and the Middle East. It has worked at the forefront of the secondaries market for years. The Singapore team works closely with colleagues in Hong Kong, Middle East, London and the US.

Praxisleiter:

Olivia Chung; John Holton; Robert Griffin; Prakash Mehta


Weitere Kernanwälte:

David Tai


Referenzen

‘Stand-outs are: Responsive, partner led, ability to source required specialists from the Akin network to provide a truly one stop service.’

‘Olivia Chung is the key relationship partner on funds and a first stop. David Tai has worked on numerous matters along with Olivia Chung and is a good addition. They stand out, being on top of the deals and all details, joining the dots on deals, taking time to understand what is important to us in the deal and driving deals forward.’

‘The Akin investment funds practice is an all-round practice that is efficient, cost-efficient and understands the client’s business. The team is able to put together legal engagements that work from the client’s perspective, taking into account the commercial requirements of a transaction whilst also bearing in mind the need to maintain cost efficiency in a transparent and meaningful manner.’

Highlight-Mandate


  • Advised a leading Indian mid-market private equity firm in setting up a continuation fund to acquire three assets from one of its existing funds that is coming to the end of its term.
  • Advised a leading private equity and real estate manager focused on India and Southeast Asia in the fundraising of its fourth private equity fund.
  • Advised a leading global alternative asset manager in connection with a joint venture in Korea to provide a wide range of private credit solutions.

Jones Day

Jones Day has a stable and growing team with a mix of US, UK and Singapore qualified lawyers. With a broad Asia Pacific coverage, the group has a particularly strong record in real estate funds. Dennis Barsky has a mixed practice of M&A, private equity and funds formation work, including private equity funds, real estate funds and hedge funds. Ben Witherall now leads many of the firm’s key engagements, also splitting his time between transactions and funds formation, including private equity and real estate funds. Zack Oswald joined as of counsel from Dechert in November 2022.

Praxisleiter:

Dennis Barsky; Ben Witherall


Weitere Kernanwälte:

Zack Oswald


Referenzen

‘The Jones Day Singapore team has a particular strength in the real estate and infrastructure funds space.’

‘Dennis Barsky leads the team and is very easy to deal with, commercial and client-friendly.’

‘Ben Witherall is gaining serious traction in the market.’

Kernmandanten

Ancora Capital Management Pte Ltd


ARA Asset Management Limited


Asia Capital Real Estate Limited


CBRE Investment Management


Greystar Real Estate Partners, LLC


LaSalle Investment Management Limited


Macquarie Capital (USA) Inc.


OMERS Administration Corporation


Oxford Properties Group Limited


Stonepeak Infrastructure Partners


Pantheon Ventures


Gaw Capital Partners


Morrison Foerster (Singapore)

Morrison Foerster (Singapore)‘s investment funds practice has experienced steady growth over the last few years, building on its strong base of real estate funds work; it has an excellent reputation for open-end real estate fund formation. The team is now increasingly active in private equity and venture capital, and represents a large swathe of fund managers and institutional clients. US-qualified Jason Nelms departed in January 2024.

Weitere Kernanwälte:

Shirin Tang


Referenzen

‘Very experienced and capable team that brings together expertise and resources from other offices/professionals. The team is able to advise clients and suggest commercial solutions to bridging differences efficiently.’

‘Extremely responsive, time efficient, commercial/practical, without any compromise on attention to detail.’

‘The ability to provide a full range of services.’

Kernmandanten

GLP Pte. Ltd.


IndoSpace


Savills Investment Management


Growtheum Capital Partners


SH Fund Management


Berkeley Frontier Fund


East Ventures


E15 VC


Intudo Ventures


Swire Properties


Touchstone Ventures


Octave Ventures


Gennex Capital Advisers Ltd


Highlight-Mandate


  • Advised a Singapore based private equity firm, Growtheum Capital Partners, on the formation of a fund that is focused on active minority growth investments in Southeast Asia.
  • Represented IndoSpace in the formation of IndoSpace Logistics Parks IV, the company’s fourth development vehicle, targeting $600m of total equity commitments.
  • Advised Savills Investment Management in the formation of Savills IM Japan Residential Evergreen Fund, the client’s first open-end real estate fund in Asia.

Sidley Austin LLP

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.

Praxisleiter:

Effie Vasilopoulos


Weitere Kernanwälte:

Josephine Law; Zishen Chong


Referenzen

‘We have been engaging Sidley for our registration of funds in Singapore as they are familiar with the regulation and understand the fund industry very well. They always respond to our queries promptly and provide valuable advice.’

‘Josephine Law and Zishen Chong are helpful and responsive to address our concern and queries. They will follow up with the regulator to ensure timely registration of funds in Singapore.’

‘Helpful to have a global law firm assist with regulatory matters in the UK and Singapore.’

Kernmandanten

EQT


UBS


BlackRock


Royal Golden Eagle


Proterra Investment Advisors (Singapore) Pte Ltd


AllianceBernstein


Dymon Asia Capital


3D Investment Partners


Loyal Valley Capital


DigitalBridge


Verition Fund Management


PIMCO


Farallon Capital


Point 72


UG Investment Advisors


Highlight-Mandate


  • Advised EQT on its $7.5bn agreement to acquire Baring Private Equity Asia (BPEA).
  • Advised Loyal Valley Capital, an established Shanghai-based private equity firm, with the establishment of its maiden hedge fund.
  • Advised Proterra Investment Advisors (Singapore) on the establishment of Proterra Asia Food Fund 3, an Asia-focused private equity fund in the food and agricultural spaces.

Simmons & Simmons

Simmons & Simmons has built a sizeable team in Singapore, now with three partners dedicated to the investment funds arena. The size has allowed the group to cover a broad spectrum of the funds world, including private and retail funds, notably hedge funds, private equity funds, real estate funds, retail funds and ETFs. The firm has a long domination of the hedge funds space, acting on many of the headline Singapore hedge fund launches and spin-outs of recent years. It has a sizeable client base in the retail funds segment and has made a further impression in crypto funds. Jek-Aun Long leads the investment funds team and has more than 20 years’ experience in the sector, including private funds, retail funds and listed funds. Dax Lim specialises in venture capital and growth equity funds, while specialist funds and regulatory lawyer Benedict Tan has been promoted to partner.

Praxisleiter:

Jek-Aun Long


Weitere Kernanwälte:

Dax Lim; Benedict Tan; Joshua Heng


Referenzen

‘Simmons funds team is attentive and knowledgeable. Industrious, thoughtful and responsible.’

‘Joshua Heng is a rising star. Cerebral and yet practical in his advice. Attentive, responsible and very competent – reliable and correct advice. Follows up on work closely.’

‘Jek-Aun Long is knowledgeable.’

Kernmandanten

BlackRock Global Funds


BlackRock Strategic Funds


BlackRock Funds I ICAV


BNY Mellon Global Funds, plc


Investec Global Strategy Fund


Lion Global Investors Limited


Foord Asset Management (Singapore) Pte. Limited


CSOP Asset Management Pte. Ltd.


Phillip Capital Management (S) Ltd


BlackRock Singapore Limited


Wellington Management Funds (Luxembourg) III SICAV


Sequoia Capital


Highlight-Mandate


  • Assisting Blackrock Global Funds with the registration of 4 new sub-funds (which are ESG focused funds) under the BlackRock Global Funds umbrella by the Monetary Authority of Singapore for public retail offer in Singapore and the annual relodgement of the fund.
  • Assisting BNY Mellon Global Funds with the registration of the BNY Mellon Global Bond Fund, BNY Mellon Dynamic U.S. Equity Fund, BNY Mellon Asian Equity Fund and BNY Mellon Sustainable Global Emerging Markets Fund (ESG-focused fund) (new sub-funds under the BNY Mellon Global Funds, plc umbrella) by the Monetary Authority of Singapore for public retail offer.
  • Acting CSOP Asset Management to establish the CSOP USD Money Market Fund under CSOP Investment II VCC (a new retail umbrella VCC).

Ashurst LLP

Ashurst LLP has gained prominence in the market through the vastly experienced Danny Tan, a Singapore investment funds titan and ‘an excellent senior resource’. He and the team represent fund sponsors across the investment funds spectrum, including private equity, venture capital, real estate, infrastructure and hedge funds. The group also advises a number of institutional investors. It has advised a series of private equity houses on the launch of funds targeting the Asia Pacific region. It has extensive experience of the variable capital company (VCC) structure and Singapore limited partnerships.

Praxisleiter:

Danny Tan


Referenzen

‘Danny Tan is an excellent senior resource in this space. His knowledge of the workings of MAS and their approach to issues has been extremely useful. He is also able to think creatively and in a solutions oriented manner. Ashurst offers excellent value for money – I am getting a top-class service at much less than magic circle or US firm rates.’

‘Danny Tan is an established and well-respected name in the industry who has extensive experience in all things funds related in Singapore.’

‘Very responsive and experienced partner. The team is very collaborative to seek win-win solutions, clear and concise in advice, very open to give advice informally and openly. Commercially sound and helpful advice.’

Cooley LLP

Cooley LLP is a leader in venture capital and growth equity fund formation in South and Southeast Asia. It has built an impressive presence in funds targeting India, along with other key jurisdictions such as Indonesia. The firm itself is very much part of the global venture capital and growth company arena. Sean Murphy leads the team in Singapore.

Praxisleiter:

John Dado


Weitere Kernanwälte:

Sean Murphy


Referenzen

‘The associates are very experienced and well-versed in the subject area. Able to handle issues and provide sound advice and views in a prompt manner. The team is also able to deliver on tight timelines, with a lot of helpful advice on market and commercial practices.’

‘Sean Murphy is very experienced and able to give advice drawn from extensive track record in representing prominent clients and acting in a wide variety of transactions. Very responsive and helpful with legal documentation.’

‘The firm has good overseas presence and a global view.’

Kernmandanten

Good Startup


Southeast Asia Exponential Ventures (SeaX Ventures)


Foxmont Capital Partners


Alpha JWC


AC Ventures


Stakeboat Capital


Eclectic


Highlight-Mandate


  • Advised Good Startup on its inaugural Good Protein Fund I, with total capital commitments to date in excess of $25m.

Goodwin

Goodwin launched a Singapore branch with the relocation of Gregory Barclay as chair of the office and leader of the Asia funds team in October 2022. Former CMS investment funds partner Matthew Nortcliff joined the office in March 2023. The new team has already made an impression in venture funds, growth funds and private credit funds. The team has experience with a variety of structures including VCCs.

Praxisleiter:

Gregory Barclay


Weitere Kernanwälte:

Matthew Nortcliff


Kernmandanten

8F Asset Management


A91 Partners


Abrdn


AEW


Catalys Pacific


Fairway Capital


GIC


Hillhouse Investment


ICG


Investcorp Asia Financial Services


LaSalle Investment Management


Makers Fund


MEC Global Partners Asia


National Infrastructure and Investment Fund


Play Ventures


PATRIZIA


Quilvest Capital Partners


Ship Street Advisors


Tybourne Capital


UBS Asset Management


Highlight-Mandate


  • Advised Heal Partners on the formation of its second venture capital fund targeting $500m in commitments.
  • Advised Iron Pillar on the formation of its $150m second growth fund.
  • Advised VI Asset Management on the formation of an evergreen private credit fund, targeting $500m over the medium term.

King & Wood Mallesons

King & Wood Mallesons has a strong focus on infrastructure, real estate and private equity. The Singapore team represents a range of Asia Pacific and international asset managers along with a number of institutional investors. Key clients include ARA Asset Management, which it advised on the establishment of a $1bn ASEAN Belt and Road focused infrastructure fund. Will McCosker leads the team and is ‘very knowledgeable, thorough and professional’.

Praxisleiter:

Will McCosker


Weitere Kernanwälte:

Indraneil Ghosh; Marc Leung; Emily Travers-Jones


Referenzen

‘KWM team is commercial and practical in their advice. They are helpful and are willing to go the distance to assist the client in areas that extend beyond legal advice and transaction work, including complementary training, and regular updates to the team and to the rest of our overseas offices.’

‘Will McCosker and Indraneil Ghosh are skilled in their advice and very helpful in creative suggestions and flexible in fee arrangements.’

‘The KWM Singapore investment funds team is very capably led by partner Will McCosker, supported by excellent depth in the team of associates through the firm at appropriate levels of seniority. The team is diverse, easy to deal with, responsive and above all else are just very switched-on and commercially minded lawyers.’

Kernmandanten

Macquarie Asset Management


ARA Asset Management


Hale Capital Partners


Taurus Funds Management


Australian Retirement Trust


Brookfield


Highlight-Mandate


  • Advising Macquarie on the establishment of a flagship global real estate fund focussing on investment in opportunistic real estate investments.
  • Acting as lead counsel to ARA on the establishment of CAF II, an ARA-managed, ASEAN Belt and Road focused infrastructure fund.
  • Acted for Hale Capital Partners, an Asia Pacific based industrial real estate developer, manager and advisor in relation to the establishment of a strategic joint venture with Oxford Properties and Warburg Pincus.

Linklaters

Linklaters has made an impression in the market following the 2022 hire of private funds partner Joel Seow, who is ‘technically adept and business savvy’. He and the team have advised major institutional investors and LPs on big-ticket private equity, venture capital, and real estate fund investments. The Singapore group is also active in sponsor engagements, including the launch of new venture capital and private equity funds, the creation of VCC structures, and addressing ESG and impact fund priorities.

Praxisleiter:

Joel Seow


Weitere Kernanwälte:

Claudia Tan


Referenzen

‘Considerable expertise and technical knowledge acting for DFI LPs in private equity funds. Nuanced understanding of market trends and shifts in bargaining power. Efficient deal closing machine.’

‘Joel Seow is as approachable and personable as he is technically adept and business savvy. A deft touch in the drafting department also.’

‘Well staffed, responsive and led by a partner whose focus is on delivering quality advice and getting the job done as opposed to generating maximum fees.’