The strength of Clifford Chance LLP’s private equity offering is epitomised by the breadth of its client base, regularly acting for international powerhouses such as Carlyle, CVC and Permira, as well as major pan-Asian and China-based clients such as Advantage Partners, Affinity and Navis Capital. The practice spans the full range of transactions, including LBOs, take-privates, PIPEs, and growth capital and venture capital investments. Terence Foo heads the group and works between Beijing and Shanghai, with his depth of PE expertise being matched by the broad range of sectors he specialises in; encompassing technology, healthcare and consumer goods. In Shanghai, Kelly Gregory has recently handled numerous private investments in the games, medtech and fintech industries across Europe, North America and Asia. Beijing-based Yufei Liao is noted for his cross-border capabilities and assisting international clients on their investment in China, while counsel Fang Bao is also particularly well regarded in the market. Yang Yi is another key contact in Shanghai, bringing considerable expertise in the PRC healthcare and real estate sectors.

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Key clients

  • CVC
  • EQT
  • PAG
  • Carlyle
  • Partners Group
  • Navis Capital Partners
  • CDPQ
  • L Catterton Asia
  • Advantage Partners
  • Tencent

Work highlights

  • Advised CVC on its buyout of Xi'an Yikang Pharmacy Chain Co., Ltd.
  • Advised EQT on its majority stake acquisition of Guardian Shanghai Hygiene Service Ltd.
  • Advised PAG on its acquisition of the majority stake in Shandong Fengxiang Co., Ltd. through an auction and on the subsequent mandatory general offers.

Lawyers

Hall of Fame
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Hall of fameClifford Chance LLP
Terence Foo is the Co-Managing Partner of Clifford Chance's China offices. Terence has over 20 years of experience in advising on cross-border M&A and joint ventures, including advising multinational clients on inbound investments in China, as well as advising Chinese enterprises on their outbound investments. Apart from Terence's cross-border M&A experience, he also heads the China private equity practice and has extensive experience in advising private equity and sovereign wealth funds on investments in China. Terence joined Clifford Chance's London office in 1999 and became a partner since 2009. Terence is admitted in Singapore and England & Wales. Terence speaks Mandarin and English.
Leading associates
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Clifford Chance LLP
Fang BAO focuses her practice on cross-border mergers and acquisitions (including foreign direct investment and outbound direct investment), private equity investments, as well as general corporate advisory. She has extensive experience advising clients in a wide range of industry sectors including energy and resources, financial services, TMT and consumer goods & retail.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Clifford Chance LLP
Yufei Liao specialises in corporate M&A, private equity, and capital markets work, with a focus on the tech sector. Yufei regularly advises Chinese privately-owned and state-owned enterprises and investment funds on their cross-border acquisitions and investments, as well as public market transactions. He also represents international financial investors on their investments in China (including growth capital/venture capital, pre-IPO, cornerstone and PIPE) as international counsel. He has extensive experience in a wide range of industry sectors including TMT, real estate, financial services, and consumer goods & retail.

Practice head

The lawyer(s) leading their teams.

Andrew Crook, Terence Foo

Other key lawyers

Kelly Gregory, Yufei Liao, Yang Yi, Fang Bao