Maples Advises on EQT AB’s Acquisition of Baring Private Equity Asia
Maples and Calder, the Maples Group’s law firm, is pleased to have acted as British Virgin Islands (“BVI”) and Cayman Islands counsel in relation to EQT AB (“EQT”)’s acquisition of Hong Kong-based Baring Private Equity Asia (“BPEA”) for EUR 6.8 billion. The combined business will be rebranded as BPEA EQT Asia and will continue to be led by BPEA CEO Jean Eric Salata and BPEA’s senior management team. The transaction is expected to close in Q4 2022.
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The combination with BPEA, a leading Pan-Asian private markets investment manager, will strategically grow EQT’s presence further in Asia and also provide an opportunity to leverage the strengths of both organisations to create one of the leading players in active ownership in Asia.
A multi-disciplinary team of Corporate and Funds & Investment Management lawyers from the Group’s Hong Kong, Cayman Islands and BVI offices advised on the M&A and funds aspects of the transaction. The M&A legal team was led by Corporate Partners Sophia Scott and Ruairi Bourke and Associates Maximilian Chung, Jordan Southway and Brittney Smith. The Funds & Investment Management legal team was led by Partner Sharon Yap and Associate Aidan O’Regan.
Commenting on the transaction, Sharon said, “We are delighted to have been involved in one of the largest ever M&A deals in the alternatives space. It is wonderful to see continued growth and interest in Asia’s private markets and we look forward to continuing to support the BPEA team as they start this exciting new chapter with EQT”.