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Formation and Deployment of Private Equity Funds
We are one of a few PRC law firms that can provide "one stop shopping" for our private equity/financial sponsor clients. Our private equity practice is among the top tier in the country in terms of both the fund formation and the deployment part of work and is one of the most active and knowledgeable resources in the PRC fund community.
We have substantial experience in all stages of private equity investments, including fund formation, early and late stage equity investments, buyouts and mezzanine financings. Our lawyers have represented many of the most active private equity and venture capital firms operating in China. We also represent portfolio companies with respect to their financing and exit transactions on the M&A and IPO side.
Fund Formation Our fund formation practice is an important element in the comprehensive services we provide to our private equity clients, including mergers and acquisitions, acquisition finance, securities, executive compensation and tax planning.
Our lawyers have been at the forefront of fund formation practice from the very beginning of the development of China's private equity sector. Our lawyers initiated and led the efforts to help the Ministry of Commerce, the State Administration of Taxation and several other central Chinese government agencies to re-draft China's first foreign invested venture capital fund rules. Our lawyers were also involved in the legislation process of other major pieces of PRC private equity regulations, including, inter alia, being part of an ad hoc task force in connection with the draft Industry Investment Funds Regulation initiated by the National Development and Reform Commission. With respect to the formation of RMB equity investment funds involving foreign investments, we have always been keeping a close watch on the regulatory update and latest practice of relevant PRC government authorities regarding RMB equity investment funds established in the form of limited partnership with an offshore fund manager (or its onshore WFOE) as the general partner.
Our lawyers are pioneers in the formation of various China-focused private equity funds (including VC funds) with foreign investments in China. We have represented fund sponsors, investors, and managers in formation of numerous offshore and parallel funds with investment strategies focused on assets/enterprises in China. In recent years, with the efforts made by various levels of PRC government authorities to gradually improve and further explore the legislation and practice in respect of foreign invested RMB funds, we have also participated in and instructed the formation of several Sino-foreign non-legal person cooperative venture capital enterprises as well as limited partnership RMB equity investment funds within China involving overseas investors and/or foreign fund managers.
Fund Deployment and Private Equity Investments In addition to structuring and organizing private investment funds, we also actively advise our private equity clients on the acquisition and financing of public as well as private businesses and making all types of inbound private equity and venture capital investments. We regularly represent private equity investors, venture capitalists, private equity fund sponsors and managers in a wide variety of private equity transactions, including buy-outs (leveraged and non-leveraged), early and late-stage venture investments, and restructurings and recapitalizations. Our lawyers are familiar with the processes, structures, and conditions commonly adopted in different types of private equity and venture capital investment deals and have a thorough understanding of and extensive experience with the deal structures as well as the transaction documents and terms for various types of investments (whether equity investments or debt investments, direct investments or contractual control arrangements, and etc.).
Exit Our lawyers routinely represent our fund clients, their portfolio companies, financial advisors and underwriters in structuring the exit to maximize the upside, using knowledge of the target company built up over the investment life cycle. We are experienced in trade sales and securities offering at both domestic and international capital markets.
At Han Yi, we understand that success requires not only technical legal skills, but also commercial sophistication, common sense, top-quality project management and the ability to communicate effectively. Our private equity team prides itself on having these attributes as well as a wealth of experience in structuring and executing institutional and management-led buyouts, follow-on acquisitions, IPOs and trade sales.
For more information on our fund formation and downstream investment practice, please contact us for a copy of our "Select List of Fund Formation Experience" or "Representative Private Equity Transactions".