Bio
Lily Miao (苗蕾) is a Partner in the Corporate Finance department of Appleby’s Hong Kong office.
As one of the very few native Mandarin and English speaking offshore partners, Lily is sought after by major international and PRC financial institutions, asset managers, listed and private corporations and investment funds for her expertise spanning over a decade in the UK and Asia. She regularly advises on a broad spectrum of banking and general corporate transactions, including leveraged and acquisition finance, complex cross-border transactions, corporate investments and reorganisations, with a particularly strong focus on funds and fund finance. In the funds related space, Lily supports the financing and investment needs of a fund throughout its entire life cycle, from inception through divestment, to exits and continuations.
With her proficiency in multiple languages (being a native speaker of English, Mandarin and Shanghainese, and fluent in Cantonese and German), Lily works closely with our wider global team to provide Cayman Islands, BVI and Bermuda law advice in the Asia time zone.
Prior to joining Appleby, Lily worked at another offshore law firm in Hong Kong, as well as at Clifford Chance’s offices in London, Singapore and Hong Kong.
Bio
Lily Miao (苗蕾) is a Partner in the Corporate Finance department of Appleby’s Hong Kong office.
As one of the very few native Mandarin and English speaking offshore partners, Lily is sought after by major international and PRC financial institutions, asset managers, listed and private corporations and investment funds for her expertise spanning over a decade in the UK and Asia. She regularly advises on a broad spectrum of banking and general corporate transactions, including leveraged and acquisition finance, complex cross-border transactions, corporate investments and reorganisations, with a particularly strong focus on funds and fund finance. In the funds related space, Lily supports the financing and investment needs of a fund throughout its entire life cycle, from inception through divestment, to exits and continuations.
With her proficiency in multiple languages (being a native speaker of English, Mandarin and Shanghainese, and fluent in Cantonese and German), Lily works closely with our wider global team to provide Cayman Islands, BVI and Bermuda law advice in the Asia time zone.
Prior to joining Appleby, Lily worked at another offshore law firm in Hong Kong, as well as at Clifford Chance’s offices in London, Singapore and Hong Kong.
Work Highlights
Leveraged & Acquisition Finance and Reorganisations*:
- Advised Ascendent Capital Partners on the financing aspects of the privatization of HollySys Automation Technologies valued at approx. US$1.66 billion.
- Acted as BVI counsel to a Middle Eastern sovereign wealth fund in respect of the restructuring of various debt obligations owed by one of the fund’s investment portfolios, a Malaysian property conglomerate.
- Advised a consortium of Chinese banks providing a loan to support Bain Capital with its USD3.16B take-private of Chindata Group Holdings Limited, a leading Asian carrier-neutral hyperscale data centre solution provider (which won several awards, including Asia Legal Awards PE Deal of the Year 2024)
- Acted for the arrangers in connection with the financing of BPEA EQT’s USD1.25B acquisition of leading US education institution IMG Academy
- Advised a group of financial institutions in connection with the financing for a large international sponsor’s 100% acquisition of HCP Packaging from funds affiliated with Barings Private Equity Asia (BPEA)
Fund Finance*:
- Advised a club of international lenders on a net asset value (NAV) facility of USD400 million to one of the largest international sponsors
- Advised a consortium of lenders on one of the first ESG fund financings in Asia to PAG, one of the largest Asian alternative investment firms
- Provided Cayman law support to a French bank in respect of a hybrid facility to a large Asian investor, one of the earliest hybrid loans in the Asian fund finance market
- Acted for a syndicate of lenders on one of the largest capital call facilities (and separate GP facility) to one of the largest Asian sponsors
- Advised Natixis Hong Kong Branch as lender to R-Bridge Healthcare Fund on a USD120 million hybrid facility
- Acted for a club of Singapore banks on an Islamic revolving loan to a large international PE firm involving Cayman funds
*Includes transactions completed by the lawyer prior to joining Appleby
Leveraged & Acquisition Finance and Reorganisations*:
- Advised Ascendent Capital Partners on the financing aspects of the privatization of HollySys Automation Technologies valued at approx. US$1.66 billion.
- Acted as BVI counsel to a Middle Eastern sovereign wealth fund in respect of the restructuring of various debt obligations owed by one of the fund’s investment portfolios, a Malaysian property conglomerate.
- Advised a consortium of Chinese banks providing a loan to support Bain Capital with its USD3.16B take-private of Chindata Group Holdings Limited, a leading Asian carrier-neutral hyperscale data centre solution provider (which won several awards, including Asia Legal Awards PE Deal of the Year 2024)
- Acted for the arrangers in connection with the financing of BPEA EQT’s USD1.25B acquisition of leading US education institution IMG Academy
- Advised a group of financial institutions in connection with the financing for a large international sponsor’s 100% acquisition of HCP Packaging from funds affiliated with Barings Private Equity Asia (BPEA)
Fund Finance*:
- Advised a club of international lenders on a net asset value (NAV) facility of USD400 million to one of the largest international sponsors
- Advised a consortium of lenders on one of the first ESG fund financings in Asia to PAG, one of the largest Asian alternative investment firms
- Provided Cayman law support to a French bank in respect of a hybrid facility to a large Asian investor, one of the earliest hybrid loans in the Asian fund finance market
- Acted for a syndicate of lenders on one of the largest capital call facilities (and separate GP facility) to one of the largest Asian sponsors
- Advised Natixis Hong Kong Branch as lender to R-Bridge Healthcare Fund on a USD120 million hybrid facility
- Acted for a club of Singapore banks on an Islamic revolving loan to a large international PE firm involving Cayman funds
*Includes transactions completed by the lawyer prior to joining Appleby
Recognition
Lily is recognized by multiple directories, her recent awards and recognitions include:
- “Recommended Lawyer” – Legal500 Asia-Pacific 2024
- “Rising Star: Foreign-based Expertise” – Legal500 Caribbean 2024
- “Rising Star” award – Fund Finance Association 2023 (only offshore lawyer named in Asia)
- “Rising Star” – IFLR APAC 2022
Lily is recognized by multiple directories, her recent awards and recognitions include:
- “Recommended Lawyer” – Legal500 Asia-Pacific 2024
- “Rising Star: Foreign-based Expertise” – Legal500 Caribbean 2024
- “Rising Star” award – Fund Finance Association 2023 (only offshore lawyer named in Asia)
- “Rising Star” – IFLR APAC 2022
Coverage & Insights
Lily regularly speaks at international conferences, on podcasts and offers seminars and training to various organisations.
Lily regularly speaks at international conferences, on podcasts and offers seminars and training to various organisations.
Qualifications & Education
Lily is admitted as a solicitor in the British Virgin Islands, Bermuda and in England & Wales and is a registered foreign lawyer in HK.
- College of Law
- Oxford University, BA in Law
- University of Bonn (ERASMUS exchange)
Lily is admitted as a solicitor in the British Virgin Islands, Bermuda and in England & Wales and is a registered foreign lawyer in HK.
- College of Law
- Oxford University, BA in Law
- University of Bonn (ERASMUS exchange)
Memberships & Associations
- Co-Chair of Fund Finance Association APAC NextGen Committee (2021-2024)
- Member of Fund Finance Association Diversity Committee
- Member of Asia Pacific Loan Market Association
- Member of Women in Finance (WiFA)
- Co-Chair of Fund Finance Association APAC NextGen Committee (2021-2024)
- Member of Fund Finance Association Diversity Committee
- Member of Asia Pacific Loan Market Association
- Member of Women in Finance (WiFA)
