Domestic PE fund bonanza

·         By end of August 2010, RMB PE funds raised a total of US$9.13bn, making up 77% of all China-focused private equity funds raised this year ·         RMB funds saw similar success last year, raising US$6.18bn – making up 63% of the amount raised for China private equity funds

Source: Asia Private Equity Review

In a manifestation of a strengthening domestic investment fund industry and the promising prospects for domestic law firms in this area, former partner at US firm Greenberg Traurig James Wang has jumped ship to local firm Han Kun to lead its fund practice.

Wang will assume his new role at the local firm in October.  With ten years of experience working at international firms as a New York qualified lawyer, Wang has developed particular expertise in fund formation. He has advised on the structuring and formation of many international (especially Asia/China-focused) investment funds, ranging from private equity, venture capital, real estate, mezzanine funds and funds of funds with total capital commitments in excess of US$20bn. He has also been active in the RMB fund formation area in recent years.

Wang is the second high-profile partner to join Han Kun in the past two months. In August 2010,
the firm added Stanley Guo, former global director of Huawei Technologies' corporate legal affairs department, in Shenzhen, boosting its corporate,  IP and TMT practices. ALB