Ian C. Ho

Partners Ian Ho and Adam Furber, Co-Heads of the Firm’s Asia Offices, were featured in a Bloomberg News article titled, “Simpson Thacher Sees More PE-Led Deals With Pent-Up Demand in Asia,” which discussed the outlook for deal activity in APAC. Ian noted, “It’s been an up-and-down year for M&A in APAC, but overall sentiment has improved and we expect an uptick in deal activity towards year-end.” He went on to further indicate that private equity firms are deploying an increasing volume of capital in Japan and India and that “the appetite for investment from funds is very high, so we expect both markets to remain very busy in the long term.” In discussing fundraising in APAC, Adam noted that while there have been some challenges in other markets, “Japan is the exception.” He added, “Alternative asset managers are very busy and they’re able to raise funds very quickly in Japan.”~~To read the full article, please click here (subscription required).

Aug 30

1 min

Simpson Thacher is representing KKR in connection with India Grid Trust’s (IndiGrid) proposed acquisition of 100% of the units of Virescent Renewable Energy Trust (VRET) along with 100% of the share capital of Virescent Infrastructure Investment Manager Private Limited and Virescent Renewable Energy Project Manager Private Limited. Based on public filings, the transaction involves an enterprise value of up to INR40 billion (USD$483 million) subject to adjustments. IndiGrid and VRET are backed by KKR. The transaction is believed to be the first acquisition by a renewable energy Infrastructure Investment Trust (InvIT) of another InvIT.~~The Simpson Thacher team includes Ian Ho, Erik Wang and Jasper Ma (M&A); Meredith Jones and Daisy Dai (Tax); and Étienne Renaudeau (Antitrust).

May 23

1 min

Simpson Thacher is representing KKR in connection with its ₹ 2,069.50 crore (~$250m) follow-on investment into Reliance Retail Ventures Limited (“RRVL”), a subsidiary of Reliance Industries. This investment values RRVL at a pre-money equity value of ₹ 8.361 lakh crore (~$100b), which makes it among the top four companies by equity value in India. The Firm also represented KKR in its original investment of ₹ 5,550 crore (~$750m at that time) into RRVL in 2020.~~RRVL, through its subsidiaries and associates, operates India's largest, fastest growing, and most profitable retail business serving 267 million loyalty customers with an integrated omni-channel network of over 18,500 stores and digital commerce platforms across grocery, consumer electronics, fashion & lifestyle, and pharma consumption baskets.~~KKR’s investment comes primarily from its Asian Fund IV. The transaction is subject to regulatory and other customary approvals. The Simpson Thacher team included Ian Ho and Shirley Foo (M&A); and Étienne Renaudeau and Pauline Patat (Antitrust).

Sep 18

1 min

Simpson Thacher represented private equity funds managed by Blackstone in its acquisition of International Gemological Institute (“IGI”) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd., a subsidiary of Fosun, and Roland Lorie, who belongs to the founding family.~~Founded in 1975, IGI is a global leader in independent certification of diamonds, gemstones, and jewelry, with a global footprint of 29 laboratories and 18 schools of gemology across 10 countries. IGI is the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. Since 2005, IGI has pioneered the certification of lab-grown diamonds, paving the authentication and standardization of a rapidly growing industry.~~The Simpson Thacher team included Ian Ho, Erik Wang, Jasper Ma, Jack Nalen, Boli Chen and Uyen Linh Tu (M&A); Christopher Wong, David Yun and Stephanie Chan (Capital Markets); Makiko Harunari, Rick Wei, Anuj Shah and Alvin Kwong (Credit); Jonathan Goldstein and Scott Grundei (Tax); Lori Lesser, Jessica Cohen and Kate Mirino (IP); Pasco Struhs (Executive Compensation and Employee Benefits); Étienne Renaudeau and Sarah Chaudhuri (Antitrust); Leah Malone and Emily Holland (ESG); and Steve DeLott (Insurance).

May 23

1 min

Ian Ho, Co-Head of the Firm’s Asia Offices, was named to India Business Law Journal’s 2022-2023 “International A-List,” recognizing the top lawyers at international law firms for work on the cross-border aspects of India-related matters. Lawyers named to this list demonstrate “a strong grasp of the intricacies of India’s corporate landscape” as well as the ability to “adeptly guide clients through complex legal and compliance issues, while demonstrating a practical problem-solving approach in the face of adversity.” IBLJ selects honorees based on feedback from a wide range of in-house counsel and private practice lawyers in India.~~To learn more, and to view the full list of honorees, please click here (subscription required).

Jul 13

1 min