A&O Shearman is a longstanding leader in the market primarily through the standing of legacy firm Allen & Overy, though its merger with Shearman & Sterling in May 2024 has only cemented this position. Consistently heading the field in leveraged finance, acquisition finance, private equity-driven finance, real estate finance, fund finance, share-backed finance and corporate lending, the firm’s commitment to Southeast Asia, which includes multiple offices in the region, brings the Singapore a wealth of engagements, notably in India, Vietnam, Indonesia, Thailand and Singapore itself; the Singapore-team works closely with colleagues across the region and represents many of the top lenders in the market, along with private equity houses and credit funds. Gautam Narasimhan has an outstanding reputation, particularly in acquisition and leveraged finance, and is qualified to practice in Singapore, India, New York and the UK. ‘Star partner’ Prakash Raja Segaran is also highly rated for Singapore law expertise in real estate finance, acquisition finance and islamic finance. Scott Lovell is an experienced figure in energy and infrastructure financings. Elected to the partnership in May 2024, Matt Del Rosso is an emerging talent in private equity-driven and acquisition finance. Jason Humphreys has retired.

Linklaters has an integrated English and Singapore law banking and finance practice, which continues to earn accolades for acquisition and leveraged finance, private credit financings, bilateral and syndicated facilities, and restructurings. It remains noted for cross-border financings involving India, Indonesia and Vietnam. India continues to be a particular bright spot for the Singapore team that has also cemented its position in private credit, fund finance and sustainability-linked financings. Head of the Asia banking practice, Philip Badge is at the pinnacle of the market in structured financings, acquisition finance and leveraged finance in India and Indonesia. Fiona Gray leads the Asia private credit group and is a notable leader in fund finance in Southeast Asia. Dior Lin is another rounded practitioner that has made a further impression in sustainability-linked financings. Rahul Chatterji has deepened the firm’s presence in leveraged finance and private credit, particularly in relation to India. Counsel Douglas Doherty is another key figure in leveraged finance and private credit.

Baker McKenzie Wong & Leow has a highly-rated banking and finance practice in Singapore, which integrates Singapore and English law expertise. The Singapore group operates across Asia Pacific and remains noted for acquisition and leveraged finance, syndicated lending, real estate finance, fund finance, and ESG and sustainability-linked loans. It has close links to many of the major lenders that operate across the region, including CTBC Bank, Mizuho Bank and HSBC. Emmanuel Hadjidakis  is chair of the Asia Pacific banking and finance group, is global head of acquisition finance and has continued to advise leading lenders on big-ticket financings. Kah Chin Chu is further noted for syndicated and bilateral loans, though has developed a particular reputation for green facilities and sustainability-linked loans. Kenneth Chuah is a key figure for structured trade and commodity finance, while Ian Roebuck is further noted for fund finance, acquisition and leveraged finance, and general lending. James Huang, Weiling Lee and Kunal Katre are also key members of the team.

Clifford Chance has remained a force in Singapore over many years and it has forged further growth over the past couple of years. Global co-head of leveraged finance Matthew Truman is now based in Singapore, having spent a long period in Hong Kong. He has linked up with established name Andrew Hutchins and the highly rated Thomas England. The strong team is noted for lender-side work for credit funds and banks, along with sponsor-side leveraged finance. It has continued to advise on bulge-bracket corporate loans, headline acquisition financings along with green facilities and sustainability-linked loans. The team is also rated for large-scale debt restructurings and refinancings. Counsels Joanne Chan and Jervis Chan are also key members of the team.

Latham & Watkins LLP has a quality and versatile practice covering key areas such as acquisition and leveraged finance, private credit financings and bank-bond deals. With its strong presence across the region, the Singapore team frequently advises on cross-border financings involving Singapore, Thailand, Malaysia, Indonesia, the Philippines and Vietnam. Clients include private equity sponsors, banks, alternative lenders and corporate borrowers. Andrew Bishop is local chair of the finance department, splitting his time between Singapore and Hong Kong, and maintains a strong presence in sponsor-driven leveraged finance. Timothy Hia is a leading figure in Singapore with strong reputation in acquisition finance, along with energy and infrastructure financings. Chuan Wei Kong was promoted to partner in January 2024.

Milbank has an outstanding record in bulge-bracket acquisition and leveraged financings. The Singapore office is also noted for private credit, structured finance, bank-bond financings and holdco financings, along with distressed financings. It has an impressive client base of commercial lenders, export credit agencies (ECAs), private equity investors and funds, among others. The Singapore team is also recognised for its work in the energy and infrastructure sectors, especially the financing of energy and infrastructure projects across the region. Indonesia is a key jurisdiction for the Singapore team, along with Malaysia and the Philippines. Singapore managing partner David Zemans is a big name in large-scale financings, especially in Indonesia. Jacqueline Chan has been instrumental in building the firm’s presence in financings for private equity investors and funds, and in the private credit arena. James Orme continues to impress in energy and infrastructure financings, as does James Murray in power and natural resources project financings.

Norton Rose Fulbright has remained amongst the leading firms in banking and finance in Singapore, thanks to its commitment to the area and its breadth of expertise. Few firms cover such a wide range of areas, from asset finance to structured trade and commodity finance, acquisition and leveraged finance, Islamic finance and fund finance. It has deep relationships with major banks and the most active financial institutions in the region, and has further cemented its leading position in trade and commodity finance. Indonesia remains a core jurisdiction for the Singapore team, which was augmented by the arrival of Beelee Seah (‘proactive with problem-solving’) from Baker McKenzie Wong & Leow in April 2024; Seah adds fund finance and Vietnam expertise to the group, among other areas.  Yu-En Ong (‘extremely hands-on and responsive’) is head of the Singapore office and head of the structured lending and markets team; a leading figure in multiple areas, he is triple qualified in Singapore, England and Wales, and Hong Kong. Colin Rice is an experienced figure in derivatives and structured products. Kai Ye Ang impresses at senior associate level. Janelene Chen has left the firm.

White & Case Pte. Ltd. has deep expertise in Singapore and Southeast Asia with the banking and finance team led by two partners that have been based in the country for more than 15 years each. The group is noted for representing a multitude of banks along with a range of private equity sponsors. It has an extensive record in acquisition and leveraged finance, mezzanine finance, fund finance, private credit and structured commodity finance; clients highlight the team for ‘sponsor-driven financings’. It is also making a further impression in sustainability-linked financings. Alexander McMyn is the executive partner of the Singapore office and has an extensive record in banking and finance matters across the region, particularly Singapore, India, Indonesia and the Philippines. Charles McConnell is noted for acquisition finance, fund finance and structured financings.

Ashurst ADTLaw’s strong links to banks, alternative lenders and financial investors, provides a platform for a thriving banking and finance practice. It continues to earn accolades for trade and commodity finance, acquisition finance, ESG and sustainability-linked loans, and asset-backed loans and securitisation. The firm remains active in fund finance, real estate finance and corporate loans. The Singapore office primarily operates in the middle market, though is equally capable in high-value financings. Jean Woo (‘an exceptional adviser’) is the Singapore office managing partner and an established figure in the banking and finance arena, covering a wide range of structures. Chin Chuan Chen provides further connections to Chinese lenders, particularly in the project finance segment. Alfred Ng provides additional project finance expertise, alongside Jean-Louis Neves Mandelli and Scott Baggett, who joined from Shearman & Sterling (now A&O Shearman) in 2023.

Gibson Dunn is a major player in the Singapore banking and finance scene. Much of its prominence is down to the presence of big-name practitioner Jamie Thomas (‘the gold standard of what a partner should be’), a recognised authority in private equity-driven financings, especially acquisition and leveraged finance, and fund finance. Over the last few years, the Singapore team has made its mark in headline leveraged finance and fund finance engagements. It is also known for general lending, advising a range of major banks and private equity sponsors, along with energy and infrastructure companies (particularly in Indonesia). Of counsel U-Shaun Lim is another key member of the team, particularly in fund financing, digital assets lending, leveraged finance, margin lending and asset-backed lending.

Herbert Smith Freehills LLP has particular experience in financings in the energy and infrastructure sectors, along with mining and natural resources. Much of the banking and finance team’s work centres on Indonesia, Myanmar, Malaysia, Philippines, Thailand and Vietnam. It delivers additional Singapore law capabilities through its Formal Law Alliance with Prolegis LLC. Its client base includes many of the top international and regional banks that lead Southeast Asia financings, along with export credit agencies and development banks, private capital funds, and energy sector borrowers. Adrian Cheng is the head of finance in Asia and is noted for his experience in the oil and gas, and power sectors, especially in Indonesia, Malaysia, Myanmar and Philippines. The highly-rated Rupert Baker provides further senior expertise in project finance, while freshly minted partner Salonika Rathod is another expert in acquisition and leveraged finance, green and sustainable financings, TMT financings, and is a key name for private credit.

Jones Day has an experienced and multi-talented team in Singapore, noted for its experience in representing corporate borrowers, private equity houses and investment funds. The Singapore office has a proven record in acquisition and leveraged finance, private credit and real estate finance, along with sustainability-linked loans. The team frequently works alongside colleagues in multiple offices around the world on cross-border financings.  Sushma Jobanputra heads the Singapore office and has an extensive background in banking and finance, including structured, acquisition, and trade financings across Southeast Asia. Vinay Kurien is another key partner for acquisition and leveraged finance, along with equipment and receivable financings.

King & Spalding LLP’s Singapore banking and finance team is led by the hugely respected Andrew Brereton. Along with a strong position in acquisition and leveraged finance, Brereton and the department have made their mark in private credit financings, advising on many of the largest deals in the region, often representing Apollo Global Management. Special situations is another forte for the team, which has made a further impression in green energy financings and sustainability-linked loans. Soumya Bhagavatula is an instrumental senior associate on many of the department’s key deals. U-Glen Lim is another respected senior associate.

Mayer Brown continued to expand its Singapore banking and finance team with the hire of structured trade and commodities finance specialist Janelene Chen from Norton Rose Fulbright in January 2024; she has a particular focus on Indonesia, which is a forte for the Singapore office along with Vietnam. The Singapore team is also making a further impression in fund finance and private credit, including subscription line financings, NAV financings, umbrella facilities, hybrids and GP facilities. It has additional expertise in structured lending, especially event-driven financings in Indonesia. Vietnam is another key market for the department, which advises an impressive list of international and regional commercial banks and development banks. Doos Choi is an experienced banking and finance practitioner, having previously practised in London and Hong Kong before relocating to Singapore; he continues to lead the Singapore office’s banking and finance efforts in multiple areas, especially fund finance and private credit.

Morrison Foerster (Singapore)’s rapid emergence in recent years is illustrated by its exposure to big-ticket and complex engagements in multiple areas, notably in acquisition and leveraged finance, private equity-driven financings, real estate finance, subscription line financings and margin loans. The Singapore banking and finance team has also continued to make an impression in sustainability-linked loans and ESG performance-linked financings. It retains close links to major banks and borrowers, including financial investors. Yemi Tépé (‘understands client demands and consistently delivers’) continues to win praise from the market, leading the team in multiple high-quality matters across Asia Pacific, particularly in Singapore, Malaysia, Greater China and Japan. Fluent in English and Mandarin, of counsel Hong Cheong Wong (‘very thorough, efficient and able to navigate complicated transactions’) is another experienced figure in acquisition and leveraged finance, margin lending and subscription line financing, along with bilateral and syndicated loans. Charlyn Lim is a well established associate.

Simmons & Simmons has maintained its strong presence in trade and commodity finance, while building its standing in private credit, funds finance, digital finance, along with renewables and energy transition project finance. The Singapore banking and finance team has retained close links to major banks such as Standard Chartered, BNP Paribas and HSBC. Calvin Tan heads the Singapore office and the banking and finance team; he is a force in trade and commodity finance, funds finance and margin lending. Yongmei Cai also focuses on trade and commodity finance, often in relation to PRC assets. Angelia Chia provides further expertise in trade and supply chain finance, having spent a large part of her long career in senior in-house legal positions. Of counsel Rui Wen Tan is another senior figure within the team.

DLA Piper bolstered its banking and finance standing in Singapore with the relocation of the experienced Matthias Schemuth from Hong Kong to the state in January 2024. Schemuth brings extensive connections to major banks, funds and multilateral agencies, joining a team that has a fine record in Singapore, Southeast Asia and South Asia. Structured trade and commodity finance is a forte for the Singapore team, which is also noted for clean energy, renewables, ESG and sustainability-linked financings and transition financings. It has additional experience in telecoms and media with a developing reputation in fintech. Country managing partner Vincent Seah provides further expertise in project finance and is ‘a top-notch energy lawyer’. Soumitro Mukerji who joined from Mayer Brown in November 2024, is an emerging name in fund finance and subscription line financings.

Hogan Lovells Lee & Lee has a broad-based banking and finance practice in Singapore, notably in secured and unsecured corporate lending, fund financing, receivables finance and aviation finance. It is increasingly active in sustainability and ESG-linked financings. The Singapore banking and finance team continues to advise a range of international and regional banks, along with development banks. Kaveeta Sandhu leads the team and continues to advise a range of banks and development banks, especially International Finance Corporation (IFC), which the team has represented in a series of financings in Southeast Asia.

King & Wood Mallesons now operates a two-partner led team in Singapore, following the hire of immensely experienced leveraged finance specialist Gary Hamp in January 2024, a former partner at several international firms in Hong Kong and London, which included a stint as co-chair of the global finance practice at Latham & Watkins LLP. His arrival augments the legacy practice which had carved out a strong presence in energy and infrastructure financings, including waste to energy projects, across Asia Pacific, particularly those led by Chinese banks and sponsors. In this regard, John Shum has an established record, having previously practised in Hong Kong. The wider practice incorporates fund finance, real estate finance, share-backed financings, and trade and commodity finance.

Reed Smith LLP’s Singapore banking and finance group is best known for international trade and commodities finance, in which it represents a variety of traders, multilaterals, banks, funds, alternative lenders, and producers. The team has an extensive record in prepayment financings, borrowing-base financings, pre-export financings, inventory monetisations, and other receivables financing structures. The group is also noted for asset finance, including aviation and ship finance, through the presence of Simon Spells. Hagen Rooke provides further expertise in financial regulatory matters, including fintech, payment services and digital assets; this involves a steady pipeline of financing engagements. Omar Al-Ali is an established practitioner in trade and commodities finance, as is Philip Orme who has been promoted to counsel and now leads many of the office’s key engagements. Counsel Aditi Aparajita was recruited from Norton Rose Fulbright, bringing additional expertise in project finance, acquisition finance and general banking.

Sidley Austin LLP is an emerging force in acquisition and leveraged finance, and private equity-driven financings. The Singapore team represents a broad range of private funds and is building its standing in fund-level financings and other structured financings. Given its commitment to the private funds world, it has gained further traction in private credit. Daniel Lindsey, who was previously located in Hong Kong, leads the team in Singapore, working primarily with private equity sponsors and private credit providers on financings across Asia Pacific.

Squire Patton Boggs’ Singapore banking and finance practice is centred on trade and commodities finance, along with maritime and project finance. The Singapore office is heavily focused on shipping and commodities, with the banking and finance team handling a range of structured trade financings, pre-export and prepayment financings, receivables and limited recourse structures. Jessica Kenworthy is an established figure in commodity finance, leading the firm’s global trade finance group and represents a range of lenders, trading houses, multilaterals and ship owners. Kate Sherrard has extensive experience in structured financing transactions across the maritime and offshore oil & gas sectors, including LNG carriers and offshore oil and gas units. Lian Yok Tan provides additional expertise in project finance.

Stephenson Harwood LLP’s Singapore team is primarily focused on shipping and offshore finance, aviation finance, and restructuring and insolvency, though its extensive team brings in wider swathe of banking and finance engagements. It has made a further mark in ESG and sustainability-linked financings. Gregory Xu is an experienced and versatile practitioner that covers both asset finance and general lending; he led the team that advised MUFG Bank, through its Tokyo branch, on its initial loan to State Bank of India.

Watson Farley & Williams LLP is primarily known for aviation and ship finance, with further expertise in project and structured finance in the aviation and shipping sectors. The Singapore office has continued to advise on headline aircraft financings and leasing structures, along with the financing of ships and offshore oil and gas assets. The office is also building its reputation in sustainability-linked loans. Madeline Leong is immensely experienced and has a fine reputation.