The awards have become a mark of distinction in Asian private equity, and a showcase for first-class innovation, ingenuity, and performance.
The deals on which Appleby acted include:
- Fundraising of the Year – Venture Capital; Appleby Hong Kong acted as Cayman counsel to ACV Capital V on their fifth fund which closed in January 2024 on USD210m. The LP base is 70% institutional – with representation from Asia, the US, and the Middle East;
- Deal of the Year – Midcap; Appleby Hong Kong acted as Cayman counsel to J-Star in connection with the acquisition of Jinjer in September 2024 for a reported deal value of AUD500m (USD335m). The acquisition was the culmination of a six-month partnership between Japan’s J-Star and Australia’s Potentia Capital intended to leverage the former’s local knowledge and the latter’s technology expertise;
- Deal of the Year – Secondary; Appleby Hong Kong acted as Cayman counsel to J-Star in Japan’s first GP-led secondary transferring four assets from its third, fourth, and fifth funds into a multi-asset continuation vehicle (CV). Neuberger Berman served as anchor investor in the CV, known as Renatus Group, which had aggregate commitments of JPY17.9bn (USD120m); and
- Deal of the Year – Large Cap; Appleby Hong Kong and Shanghai acted as BVI counsel to Ascendent Capital Partners on the acquisition of Hollysys Automation Technologies in July 2024 for USD1.66bn which involved USD1.1bn in bank financing to support the take-private, as well as a strong roster of strategic and financial co-investors.
