Kit Mak is counsel in the Finance Group of the Corporate Department, based in our Hong Kong office. Kit’s practice is focused on complex cross-border financing, special situations and real estate transactions. He regularly advises private equity sponsors and their portfolio companies, financial institutions, Chinese policy banks, hedge funds, and corporate clients in acquisition finance, bilateral and syndicated lending, limited recourse and secured financings and restructuring transactions across the Asia Pacific region.
Prior to joining Paul, Weiss, Kit was an associate in the finance department of an international law firm. He completed a secondment with SSG Capital Management (Hong Kong) Limited in 2014 as well as the real estate finance division of an international bank in 2015. Kit also worked for several years in London, Hong Kong, Beijing and Tokyo at another international law firm and was seconded to the Principal Investments division of an international bank in Hong Kong.
Since joining the firm, select transactions on which Kit has advised on include:
- Wumei, a leading Chinese retailer, in the financing of its €1.9 billion acquisition of Germany’s Metro AG’s retail, wholesale and cash and carry operations in China;
- The controlling shareholders of APM Monaco, a leading contemporary jewelry brand, in their sale of a 30% shareholding in the company to a consortium of investors led by TPG that also includes China Synergy and Trail;
- Morgan Stanley Private Equity Asia, alongside Midas Fund LP, in their approximately NT$9,300,000,000 (US$300 million) acquisition of Microlife Corporation, a Taiwan-listed developer and producer of medical diagnostic equipment;
- DCP Fund, a China-based private equity firm, in the acquisition of MFS Technology, a Singapore-based printed circuit board manufacturing company;
- Tencent, as part of an investor consortium, in its the €4.6 billion public cash tender offer to acquire Amer Sports Corporation, a Finland-based sportswear group which owns brands including Salomon, Arc’teryx and Wilson;
- Wanda Sports Group in its US$400 million financing for its whole corporate group and subsequent successful initial public offering and listing on the Nasdaq Global Select Market of American Depositary Shares;
- State Grid International Development Limited in its US$2.23 billion acquisition of Chilquinta Energía S.A. from Sempra Energy. The acquisition will also include Sempra Energy’s 100% interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energia SA and third parties, and its 50% interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission;
- A global investment bank in its provision of a US$30 million convertible loan to a Hong Kong-listed company engaged in the renewable energy business based in China;
- A global investment bank, as lead investor, in a financing round to a Chinese online used car sales platform;
- A global investment bank in its subscription for US$35 million non-guaranteed zero-coupon convertible notes of a leading mobile big data solutions platform in China; and
- A Hong Kong headquartered international lingerie and swimwear company on the proposed auction sale of a partial stake.
Prior to joining the firm, select transactions on which Kit has worked on recently include advising:
- A regional private equity fund as mezzanine creditor in respect of its financing to a purchaser for the acquisition of a company that holds oil and gas interests in Indonesia;
- A multinational asset manager on a loan transaction to an Indian group in the LED screen business in connection with its acquisitions in Australia and New Zealand;
- Sun Hung Kai Investment Services Limited, a leading Asian investment management and advisory firm, as financier to the offeror in a mandatory unconditional offer for the issued shares and the outstanding convertible bonds of Asia Allied Infrastructure Holdings Limited (HKSE: 0711);
- Sun Hung Kai Investment Services Limited, a leading Asian investment management and advisory firm, as financier to Ally Bridge Group (as a joint offeror with a consortium established by an affiliate of the target company’s controlling shareholder and GL Capital Group) in its proposed HK$2.34 billion (US$300 million) privatization offer for the H shares of Shandong Luoxin Pharmaceutical Group (HKSE: 8058) by way of a voluntary conditional cash offer;
- An international bank in a HK$530 million limited recourse financing to a global private equity sponsor in its acquisition of a commercial property in Hong Kong;
- An international bank in a US$105.5 million limited recourse financing to a global private equity sponsor in its acquisition of a commercial property in Shanghai;
- A regional private equity fund in connection with its purchase of senior and unsecured debt of, and the majority equity stake in, a company holding a power plant project based in Thailand;
- A global insurance company on structuring real estate investments across Asia;
- A private equity fund and an investment bank on their exit from a PRC real estate development;
- A global investment bank in its investment in senior, secured, rated and listed redeemable and non-convertible debentures issued by an Indian infrastructure developer;
- A subscriber of US$140 million secured second lien convertible bonds and warrants privately placed by Singapore listed company that owns aluminum production assets in China;
- Bain Capital:
- on the financing for its leverage acquisition of Australian franchiser Retail Zoo; and
- its portfolio company Bellsystem24 on the refinancing of the term and revolving credit facilities of Bellsystem24;
- The Special Committee of ChinaEdu Corporation, a leading online educational services provider in China, in the take-private of ChinaEdu Corporation by its Executive Chairwoman and CEO; and
- TPG on the term and revolving facilities for its leveraged acquisition and take-private of ShangPharma Corporation, a leading provider of contract research outsourcing services in China.
He is admitted to practice in Hong Kong, New York, England and Wales and is a non-practising Advocate and Solicitor in Singapore.