Asia-Pac PE strong despite challenges
The private equity deals market in Asia-Pacific was hit by low oil prices, slowing economic growth and currency turbulence in 2015 but still managed to post one of its strongest years. A report by consultancy Bain & Company shows that deal value was up 44 per cent to US$125 billion – around twice the five-year average and setting a new record.
Deal count was also higher, up 34 per cent to 955 to break the 900 barrier for the first time ever. Average deal size set a new record too, ballooning to US$131 million, 45 per cent higher than the five-year average.
HFW enters formal association in Shanghai
Holman Fenwick Willan has entered into a formal association with Shanghai firm Wintell & Co following approval by the Shanghai Justice Bureau. The agreement will mean HFW’s Shanghai office will operate in association with Wintell in the Shanghai Free Trade Zone and in Tianjin.
British bank hires former NAB GC
The UK’s Lloyds Banking Group has hired former National Australia Bank general counsel Nathan Butler. He had been with NAB since 2001 and held a number of roles in the bank’s legal team, most recently general counsel for governance, corporate and enterprise services. At Lloyds he replaces Hugh Pugsley as GC; Pugsley left for HSBC a year ago.
International firm hires KWM team for Paris launch
Goodwin Proctor has hired a team from King & Wood Mallesons for the launch of its Paris office. The new location will expand Goodwin’s M&A and private equity capabilities into the city. Partners Maxence Bloch, Christophe Digoy, Jérôme Jouhanneaud and Thomas Maitrejean will open Goodwin Paris following completion of their notice periods.