The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
The deal, which is still ongoing, is the latest transaction in which sovereign wealth funds have invested into financial institutions since the credit crunch hit last summer.
New York-based partners, Barrie Covit, John Walker and Thomas Bell, are leading the Simspon Thacher team advising private equity house JC Flowers, while New York-based Sullivan & Cromwell partners Christine Spillane, Rodgin Cohen and head of China practice, Chun Wei led the team advising CIC.
It has been reported that the JC Flowers fund will be investing in smaller financial institutions, which so far have not been the target of sovereign funds.
Banks such as Citigroup, Merrill Lynch and UBS have all received investment from sovereign wealth funds since June last year.
Last week (1 February) The Lawyer reported on Cleary Gottlieb Steen & Hamilton and Sullivan & Cromwell advising Citigroup on its $19bn equity offering in which three sovereign wealth funds, Government of Singapore Investment Corporation, the Kuwait Investment Authority and Prince Alwaleed bin Talal bin Abdulaziz Alsaud each invested.
Simpson Thacher and Sullivan & Cromwell both declined to comment on the transaction.