David H. Zemans

Milbank LLP advised the global lenders on the financing for KKR and Singtel's landmark S$6.6 billion (approximately US$5.1 billion) acquisition of the remaining 82% stake of ST Telemedia Global Data Centres ("STT GDC"), a leading data center colocation services provider. This represents an implied enterprise value of STT GDC at approximately S$13.8 billion (approximately US$10.9 billion), including leverage and capital expenditure for committed projects. The transaction marks one of the largest digital infrastructure transactions in Southeast Asia to date. Founded in 2014 and headquartered in Singapore, STT GDC operates data centers across 12 markets in Asia Pacific, the United Kingdom and Europe, with 2.3 gigawatts of design capacity. The company provides colocation, connectivity and support services to hyperscalers and enterprise customers. "This landmark financing demonstrates the continued appetite from lenders for high-quality digital infrastructure assets in Asia," said leveraged finance partner Davide Mencacci. "The transaction's scale and complexity reflects the growing importance of data centers in supporting the region's digital economy." Milbank's Digital Infrastructure Practice Group is the leading legal advisor driving digital infrastructure transactions across the entire value chain — from GPU procurement to powered land, data centers, buy-side/sell-side and capital raises (debt/equity) throughout the capital stack. The Asia Digital Infrastructure Practice is led by partners David Zemans and James Orme. In 2025, Milbank had the lead legal role in over $150 billion of digital focused transactions, including several of the largest capital markets, project finance, real estate and M&A transactions to date. The Milbank deal team was led out of Hong Kong by Leveraged Finance partner Davide Mencacci and special counsel Daniele Sutto, with associates David Zhu, Matthew Leung and Marco Ying.

Feb 11

1 min

Chambers Recognizes 21 Milbank Attorneys, 25 Practice Areas in Its Asia-Pacific 2026 Guide~~Milbank LLP is pleased to announce that 21 of its attorneys and 25 practice areas are ranked by Chambers in its Asia-Pacific 2026 guide to the region’s top law firms. Eight partners were awarded Band 1 status or higher, with several partners receiving recognition in more than one practice area. Two partners were identified as exceptional individuals beyond the numerical rankings, with one named an Eminent Practitioner and another featured as a Star Individual. Milbank’s Corporate & Finance work in Vietnam was recognized with a Spotlight distinction. Each year, Chambers provides independent, in-depth insight and recommendations on law firms and lawyers across legal markets in the Asia-Pacific region. Milbank’s practice teams and individual attorneys are consistently recognized in the Chambers guide. Chambers ranked Milbank Band 1 in the following practice areas: Corporate & Finance – Philippines Corporate & Finance – Indonesia Corporate/M&A: The Elite – Singapore Projects & Energy – India Projects & Energy – Japan Projects & Infrastructure â€“ Asia-Pacific Region Projects & Infrastructure – Singapore Projects & Infrastructure – South Korea Projects, Infrastructure & Energy – Philippines Restructuring/Insolvency â€“ Singapore The firm was also recognized by Chambers for its expertise in the following specialties: Banking & Finance (Japan, Singapore and the Asia-Pacific Region); Capital Markets (Singapore and India); Capital Markets: Debt, Equity and High-Yield Products (Asia-Pacific Region); Corporate & Finance (Malaysia and Vietnam); Corporate/M&A (South Korea and the Asia-Pacific Region); Corporate/M&A: Private Equity (Asia-Pacific Region); Energy & Natural Resources (Asia-Pacific Region); and Projects & Infrastructure (Malaysia). “This recognition reflects Milbank’s outstanding reputation and prominence across numerous practice areas and regions,” said David Zemans, Managing Partner of the firm's Asia Practice and Singapore office. “We continue to earn the trust of our clients by delivering unparalleled service and strategic advice on their most important transactions.” Of Milbank’s 21 leading attorneys who are recognized by Chambers, six received Band 1 rankings. One partner was named an Eminent Practitioner and one was granted Star Individual status – special distinctions above the Band 1 ranking. David Zemans was recognized as an Eminent Practitioner in five practice areas: Banking & Finance – Indonesia and Singapore Corporate/M&A – Indonesia and Singapore Restructuring/Insolvency – Singapore Aled Davies was designated a Star Individual in Projects & Energy – Japan Jacqueline Chan: Corporate/M&A – Indonesia and Singapore; Restructuring/Insolvency – Singapore John Dewar: Projects & Energy – India David Gartside: Projects & Infrastructure – South Korea James Grandolfo: Corporate & Finance – Philippines Giles Kennedy: Capital Markets – Indonesia and Singapore James Murray: Projects & Energy – Indonesia; Projects & Infrastructure & Energy – Philippines; Projects & Infrastructure – Singapore The following Milbank attorneys were ranked as leaders in their field: Jacqueline Chan: Banking & Finance – Singapore; Corporate & Finance – Vietnam David Cho: Corporate/M&A – South Korea Aled Davies: Banking & Finance – Japan Nicholas Dunstone: Restructuring/Insolvency – Singapore Justen Fleming: Projects & Energy – Japan Andrew Gibb: Projects & Infrastructure – Singapore Munib Hussain: Projects & Energy – India Min Kim: Corporate/M&A – Singapore Terrence O’Donnell: Capital Markets – Singapore James Orme: Projects & Energy – Indonesia; Projects & Infrastructure – Singapore; Banking & Finance – Indonesia and Singapore Andrew Pendleton: Projects & Energy – Japan Paul Anthony Pery: Corporate & Finance – Philippines Cesareo Singzon: Corporate & Finance – Philippines Desiree Woo: Projects, Infrastructure & Energy – Philippines Rosaline Yusman: Projects & Infrastructure – Singapore

Dec 11

3 min

Milbank Partner David Zemans Reflects on Singapore’s 60-Year Transformation in Law.com International Article~~Milbank LLP partner David Zemans, managing partner of the firm’s Singapore office and head of the firm’s Asia Practice, authored an article titled, “A Strategic Edge at 60: Lessons in Relevance, Resilience and Reinvention from Singapore,” for Law.com International, reflecting on Singapore’s remarkable evolution as it marks its 60th anniversary. In the article, David examines how the city-state has transformed from a small trading port into a premier legal, financial and innovation hub – and the strategic lessons this journey offers for organizations navigating geopolitical uncertainty, technological disruption and shifting global markets. Drawing on Singapore’s history of adaptive policymaking, targeted excellence and forward-looking regulation, David highlights the importance of staying relevant through agility, resilience and purposeful reinvention. He notes that Singapore’s ability to move early on nascent industries – from digital assets and green finance to AI governance – illustrates how clarity of focus and a willingness to refine regulatory frameworks can attract sophisticated global capital and position ecosystems for long-term success. David writes: “Singapore’s achievement is not static. It has reinvented itself multiple times – from a trading port to a financial center, and now to a hub for digital assets, green finance and AI governance. Regulators have generally chosen to move early, set clear rules and refine them with the market, which is precisely what sophisticated capital seeks when deciding where to base regional operations.” His insights underscore that sustainable success, whether for cities, institutions or businesses, requires depth over breadth, strategic focus and a commitment to continuous adaptation. To read the full article, please click here. (Law.com subscription may be required.)

Feb 4

1 min

Milbank Recognized in 2026 Legal 500 Asia Pacific and Greater China Guides~~Milbank LLP is ranked in 22 practice areas in the Legal 500 Asia Pacific 2026 and Legal 500 Greater China 2026 guides. In addition, 24 individual attorneys are highly recognized across 43 categories for their expertise and industry knowledge. Legal 500 guides are published annually and provide unbiased commentary and insight into the legal marketplace jurisdictions around the world. The rankings as based on a detailed analysis of law firm submissions and thousands of interviews with general counsel and private practice lawyers. The Legal 500 Asia Pacific 2026 and Legal 500 Greater China 2026 guides rank Milbank in Tier 1 in the following categories: Indonesia: Foreign Firms Japan: Projects and Energy Philippines: Foreign Firms Singapore: Banking and Finance Singapore: Corporate and M&A Singapore: Energy Singapore: Projects Singapore: Restructuring and insolvency Milbank also is recognized for its exceptional capabilities in the following areas: Hong Kong: Banking and Finance Hong Kong: Capital Markets/Debt Hong Kong: Capital Markets/Equity Hong Kong: Corporate (including M&A) Hong Kong: Private Equity Hong Kong: Projects and Energy India: Foreign Firms Japan: Banking and Finance Malaysia: Foreign Firms Singapore: Capital Markets/Equity and Debt Singapore: TMT South Korea: Corporate and M&A South Korea: Projects and Energy Vietnam: Foreign Firms “This extraordinary recognition reflects the trust we continue to earn from our clients to assist them on their largest and most complex matters in Asia," said David Zemans, Managing Partner of the firm’s Singapore office and Asia Practice. “Our regional footprint enables us to serve clients with speed, coordination and precision across Asia’s diverse markets,” said James Grandolfo, Managing Partner of Milbank’s Hong Kong office. “By working as a fully integrated team across our Asia offices and global platform, we deploy the best talent for each matter to deliver superior results. This recognition reinforces Milbank’s standing as a leading adviser on the region’s most complex and high-value matters.” Learn more about the Legal 500 rankings.

Jan 14

1 min

Milbank LLP advised Teleport Everywhere Pte. Ltd. (Teleport), the air logistics arm of Malaysia-based Capital A Berhad, in connection with a US$50 million investment from HPS Investment Partners (HPS), a part of BlackRock, valuing Teleport at US$500 million on a pre-money basis. The transaction is a key milestone for both Teleport and HPS. The growth capital will support Teleport’s expansion plans at an important time in its development. This investment marks HPS’s first private credit transaction in Asia following BlackRock's acquisition of HPS last year. The transaction involves the issuance of redeemable convertible perpetual securities (RCPS) by Teleport to HPS. The bespoke RCPS structure allows Teleport to access flexible growth capital, while allowing HPS to participate in the company's future value creation. Founded in 2018, Teleport is Southeast Asia's largest logistics operator by volume. Its innovative approach involves partnering with third-party airlines to expand capacity rather than owning assets. This growth capital will be used to fund network expansion with partner airlines and to accelerate the growth of its asset-light cross-border ecommerce model in high-growth corridors between China, Asia and the Middle East. The Singapore-based Milbank team was led by Milbank’s Asia Managing Partner David Zemans, senior associates Hua Chan and Zhen Kua, and associates An Guo and Wei Sheng Lee, all from Milbank’s Singapore office.

Feb 24

1 min