Hong Kong / Tokyo / London – LAWFUEL – Press Release Service – Global law firm Clifford Chance has advised PMA Capital Management (“PMA”), the largest investment manager in Asia outside Japan, on its buy out by SPARX Asset Management (“SPARX”), Japan’s only listed independent investment manager. The transaction, which remains subject to certain regulatory approvals, creates the single largest alternative investment firm in Asia – and one of the largest in the world – and will have more than US$8 billion in alternative assets under management.
The transaction also marks the first merger of alternative investment firms in Asia. The deal is priced at US$226 million in cash and SPARX shares. The entire management team will stay on board in the combined firm and PMA will continue to operate its core business.
The Clifford Chance team advising PMA was led by corporate partners Amy Ho and Mark Shipman (both Hong Kong), supported by Kenneth Leung (counsel, tax), Jeannette Kwok (associate, corporate) and Megan Chia (associate, corporate) in Hong Kong. Tokyo-based regulatory partner Kenji Kawahigashi and London-based lawyers Douglas French (partner, tax), Angela McGhin (associate, tax) and Nicholas Rees (associate, corporate) also assisted with the deal.
