Equity
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| Abax launches the first global hedge fund in Hong Kong |
Abax Global Capital has launched the first globally offered hedge fund in Hong Kong, with investor demand exceeding $1 billion. Sidley Austin represented Abax, with partner Effie Vasilopoulos leading the firm in Hong Kong. It is the first big launch of a new special situations hybrid fund in Hong Kong and is hoped to continue the development of the Asian hedge fund industry. Walkers acted for Abax as the Cayman Islands legal counsel on the deal.
Debt
Intermediate Capital Group provided mezzanine capital and equity co-investment with 3i in Franklin Offshore, a Singapore company. It has funds under management of €8.5 billion ($11.6 billion) including collateralized debt obligations, leveraged loan funds, Europe's largest independent mezzanine fund, and the first dedicated Asia-Pacific mezzanine fund. Clifford Chance advised Intermediate Capital. Private equity partner Andrew Whan led the Clifford Chance team with partner...