Clifford Chance LLP’s China practice covers the gamut of private equity transactions, including LBOs, MBOs, take-privates, PIPEs, and pre-IPO and cornerstone investments. It is also home to specialists in growth capital and venture capital investments, as well as senior, mezzanine and high-yield financings. In Beijing, China private equity practice head Terence Foo has longstanding experience in advising private equity and sovereign wealth funds on their investments in China; Yufei Liao focuses on technology transactions; and Fang Bao‘s practice also encompasses private equity investments. Over in Shanghai, Kelly Gregory is a widely-respected M&A and private equity expert; and Yi Yang acts for multinational companies from the real estate, healthcare life sciences, consumer goods and automotive sectors.

A ‘go-to firm for high-stakes or complex transactions’, Simpson Thacher & Bartlett LLP's China practice is consistently sought out by major private equity clients to advise on strategic acquisitions and investments across the region. Providing ‘outstanding legal advice’ from Beijing, Yang Wang acts for a range of corporate and private equity clients on high-end M&A, private equity deals, corporate finance transactions, and other general corporate matters; and  working across the Hong Kong and Tokyo offices, Ian Ho is a widely-lauded M&A expert. The practice further showcases Hong Kong-based Erik Ping Wang, an adviser to clients from the technology, infrastructure, financial services, healthcare, consumer products and industrials sectors; and experienced M&A practitioner Jie Min, who is also in Beijing.

Skadden, Arps, Slate, Meagher & Flom LLP‘s private equity clients notably benefit from the firm’s experience in strategic and financial sponsor-led M&A, including related antitrust, capital markets and regulatory issues. The team routinely acts for international private equity houses on strategic and pre-IPO investments. It also assists Chinese companies with going-private transactions that frequently involve private equity houses. Working across the Shanghai and Hong Kong offices, Haiping Li‘s track record encompasses private equity firms’ pre-IPO investments; while Beijing office leader Peter Huang, Yuting Wu in Shanghai, and Beijing’s Kai Sun all handle high-profile private equity transactions. Flora Lu also advises on cross-border and domestic private equity deals from Shanghai.

White & Case LLP's China private equity team acts for significant private equity investors and targets in Greater China (as well as across the Asia-Pacific region) on major transactions. On the mainland, Vivian Tsoi acts for global corporations and Chinese state-owned and private enterprises on big ticket, multi-jurisdictional matters; Yan Yan is a recently-raised partner; and Amy Yang's wide-ranging practice includes private equity work. In Hong Kong, Daniel Yeh is Asia private equity head, while Christopher Kelly is also a well-known private equity practitioner. Transactions expert Alan Bao joined the Beijing office in March 2024 from O'Melveny.

The result of a May 2024 merger between legacy firms Allen & Overy LLP and Shearman & Sterling, A&O Shearman acts for global financial institutions, regional private equity funds and sovereign wealth funds on cross-border private equity transactions. Its sector expertise covers electric vehicles, manufacturing, financial services, technology and infrastructure, along with logistics, healthcare, real estate, consumer goods, and food and beverage. In Shanghai, Wayne Lee is ‘very much trusted’; and Jean Ye is an expert in transactions involving real estate-related private equity. Based between Beijing and Hong Kong, Li Chen maintains a wide-ranging workload of M&A, corporate and private equity matters; Lorna Chen in Hong Kong advises investors on private fund-related investments; and Beijing-based Weina Guan is experienced in take-private transactions.

Cleary Gottlieb Steen & Hamilton's private equity team in Beijing regularly acts for international and domestic private equity firms and sovereign wealth funds on high-end deals. Its mandates cover a range of investments, from LBOs to consortium deals, co-investments, minority investments, and pre-IPO investments. Focused on international M&A, private equity and foreign direct investment transactions, Denise Shiu leads the practice. Rejoining the firm during 2023 from Fangda Partners, Wei Fang advises Chinese companies and private equity firms on outbound investments, along with assisting private equity investors, hedge funds and multinational corporations on investments, financings, joint venture transactions, and pre-IPO investments.

DLA Piper's Greater China private equity practice has significant experience in the healthcare, software and business services sectors. The team consistently acts for private equity funds, investment firms, family offices and other equity financial investors on buyouts, M&A, cross-border transactions, and joint ventures. It also advises on control and minority investments, venture and growth capital, distressed investments, fund formation, and limited partner investments. In Shanghai, Qiang Li is a widely-respected private equity specialist; and the ‘very responsive and intuitive’ Beijing-based James Chang acts for investors and companies on early-stage and growth capital investments. Luke Gannon heads up the Asia corporate practice from Hong Kong. Former partner Stewart Wang departed the firm in May 2024.

Hogan Lovells International LLP‘s China practice routinely leverages the firm’s enviable global network of private equity practitioners across Asia, Europe, Latin America, Africa, and the Middle East and US for cross-jurisdictional mandates. It is particularly focused on the technology and biotechnology sectors, in relation to both high-value and mid-cap matters. In Shanghai, Don Williams is a highly-rated private equity and technology industry specialist; and Tony Mou acts for private equity and venture capital funds, as well as general and limited partners, entrepreneurs, and venture-backed growth stage and public companies. Over in Beijing, Lu Zhou advises multinational corporations, corporate ventures and private equity fund clients on cross-border transactions. Stephanie Tang heads the Greater China private equity group from Hong Kong.

Kirkland & Ellis International LLP's ‘top-notch’ China private equity practice has an enviable market reputation for high-end private equity transactions. The practice acts across the full spectrum of private equity work, including buyouts, SPAC transactions and take-privates. It also fields experts in growth capital, joint ventures and disposals. The team is co-led from Hong Kong by Jesse Sheley, an expert in major investments, acquisitions, LBOs and SPACs; and Peng Yu, who ‘has a great problem-solving mindset’ and is experienced in LBOs, take-privates, PIPEs, and growth capital investments. The group further includes high-regarded private equity specialist Gary Li; and Pierre-Luc Arsenault, an adviser on LBOs, minority investments, joint ventures, and special situations-related private equity deals.

Linklaters' China practice covers the full life cycle of private equity matters, including acquisition financing, public M&A, restructurings, capital markets, antitrust, and foreign investment. The team also fields sector experts in real estate, energy, infrastructure, technology, and life sciences; and has notable experience in facilitating Middle Eastern private equity investments in China. In Hong Kong, Betty Yap has longstanding experience in advising private equity funds and other financial sponsors in buyout, growth capital and co-investment transactions, structured investments and exits, and cross-border M&A, divestments and joint ventures; and Xiaoxi Lin focuses on control buyouts, growth capital investments and public takeovers. Working across Shanghai and Hong Kong, John Xu handles cross-border M&A transactions into and out of China.

The China private equity practice at Morrison Foerster routinely acts on major take-private transactions. It is particularly active in relation to the technology, online gaming, e-commerce, fintech, biotechnology, life sciences, and healthcare sectors. In the firm’s mainland offices, Rongjing Zhao, an April 2023 recruit from Kirkland & Ellis International LLP, advises private equity funds on investments and acquisitions in China and the rest of Asia; Siyu Gao focuses on TMT-related private equity investments and M&A; and Bingye Wu and Bilin Chen both assist with M&A, private equity investments and general corporate matters. Over in Hong Kong, Marcia Ellis is the global co-chair of private equity. Maureen Ho has now left the firm.

Paul Hastings LLP’s China practice routinely handles high-end, late-stage private equity buyout deals. The team covers the full range of investment deals, including strategy, negotiations, fund management, exits and dispositions. In a recent 12-month period, the group was notably active in major private equity deals in the real estate, healthcare, pharmaceutical, TMT and public sectors. Regularly sought out by technology-focused clients, Shanghai and Beijing-based David Wang, who is also admitted to practice in California, focuses on M&A, private equity, joint ventures and capital markets; and Meka Meng in Beijing is experienced in investment transactions, in addition to private equity fund formation, venture capital, M&A, and joint ventures. In May 2024, former partner Jia Yan departed the firm.

Well known for high-end transactions involving multiple jurisdictions, Paul, Weiss, Rifkind, Wharton & Garrison LLP acts for major corporations, sovereign wealth investors and international and regional private equity funds on direct investments, co-investments and exits. The team was recently notably active in the biotechnology, consumer, retail, e-commerce, manufacturing, and food and beverage sectors. Judie Shortell, who works across the Beijing and Hong Kong offices, assists with high-value LBOs, privatisations, spin-offs, carve-outs, exits, and strategic and minority investments. In Beijing, Greg Liu advises corporate, multinational and private equity clients on investments, sales and M&A; and Jack Sun also assists with major private equity deals. Over in Hong Kong, Bosco Yiu is an adviser to private equity and venture capital firms on their investments.

Weil, Gotshal & Manges LLP ‘stands out for its exceptional expertise, strategic insights and global reach’. The Greater China team is routinely mandated for big-ticket, domestic and cross-border acquisitions, mergers, takeovers, privatisations, and disposals. It also advises on distressed M&A, spin-offs and joint ventures. Working across the Shanghai and Hong Kong offices, Asia practice head Charles Ching has ‘exceptional strategic vision and depth of experience in the private equity sector’; and Yujing Liu advises global sponsors on their China investments, alongside assisting Chinese companies with their outbound investments in Europe and Asia. Kenny Yu is a key private equity and corporate department lawyer in Hong Kong; while former Hong Kong managing partner Tim Gardner joined investment firm PAG in April 2024.

Baker McKenzie FenXun routinely leverages its enviable global footprint for major cross-border investment and divestment transactions. The practice has notable sector experience in healthcare, life sciences, TMT, digital infrastructure, consumer, retail and real estate. In Shanghai, China private equity head Hong Zhang is experienced in advising Chinese companies and multinationals on both China inbound and outbound investments. Over in Hong Kong, Derek Poon advises private equity firms, investment banks and major corporations on a range of corporate matters.

Well known for its sector expertise in technology, life sciences and healthcare, Cooley LLP‘s experience covers advice to venture capital investors, start-ups and growth-stage companies on fundraisings. In Shanghai, Ruomu Li is ‘good at handling very complex transactions’; Yiming Liu advises companies throughout their lifecycles, including during strategic private fundraisings; and Monica Xu advises high-growth emerging technology and life sciences companies, as well as venture capital and other investors, on corporate and securities transactions across Asia and the US. Since publication, the team welcomed Yilin Xu who joined from Skadden, Arps, Slate, Meagher & Flom LLP in January 2025.

Regularly involved in cross-border transactions involving China, India and Southeast Asia, Goodwin’s Hong Kong-based private equity Asia private equity practice is experienced in early and late-stage venture capital, growth equity investments, M&A, LBOs, joint ventures, and stock and asset sales. Yash Rana co-chairs the firm’s private equity group; Douglas Freeman advises public and private companies, private equity firms, and investment banking firms on corporate transactions; and Daniel Dusek routinely acts for major private equity investors and corporations.

Latham & Watkins LLP's Hong Kong-based team acts for private equity clients on both their inbound and outbound investments in Greater China. The practice also fields sector specialists in logistics, technology, healthcare, education, real estate and e-commerce. Focused on pan-Asia private equity transactions, Simon Cooke specialises in public and private M&A, as well as corporate finance; and Frank Sun routinely advises on significant private equity investments and M&A deals. Richard Watkins and Stephen Shi are also key figures.

Morgan, Lewis & Bockius LLP operates across several key industries, ranging from education, life sciences and medical devices, to energy, financial services, food, media, entertainment and technology. The team assists with the full range of private equity transactions, including buyouts, add-ons and co-investments, as well as dispositions and other exits. Private equity specialist Maurice Hoo leads the China-based group from Hong Kong; while dual-qualified (New York and China) Ning Zhang advises on cross-border transactions in both Hong Kong and the US.

With notable expertise in the life sciences, biotechnology and health sectors, O'Melveny's transactional practice covers buyouts, as well as venture and other private equity investments. The group is also experienced in PIPE deals, bridge loans, and convertible bonds and other debt financings. The department is co-led by Shanghai-based Walker Wallace, an expert in structuring business operations in China; and transactions specialist Nima Amini in Hong Kong. In Beijing, Ke Geng advises on financings for Chinese companies, along with M&A.

Leveraging enviable cross-office and cross-practice expertise, Ropes & Gray LLP's China private equity team is repeatedly mandated for high-stakes matters by global private equity clients and regional investors. The transactions handled span various sectors, including life sciences, health care, technology, consumer goods, financial services and real estate. Heading up the China private equity team from Hong Kong, Oliver Nip advises global and regional private equity sponsors (and other asset managers) on cross-border buyouts, minority investments, joint ventures, and co-investments.

Johnson Stokes & Master’s Hong Kong-based private equity group advises private equity, venture capital, hedge, real estate, pension, infrastructure, and sovereign wealth funds on their investments. The group is co-led by Asia chair Hannah Ha and Jeckle Chiu, whose broad practice covers private equity transactions. Mark Uhrynuk  retired from the firm in July.