Harneys advises Ping An on the world’s largest private credit secondaries transaction

Harneys acted as Cayman Islands counsel to offshore investment and asset management platform, Ping An Overseas Holdings (Ping An), in relation to its US$680 million private credit secondaries transaction. Globally, the deal is the largest private credit secondaries transaction to date.

The Harneys team comprised of Maggie Kwok, Asia Head of Funds and Regulatory and Senior Associate Ian Clark who advised on the funds and corporate aspects of the transaction, along with Paul Sephton, Asia Head of Transactional and global co-head of Banking & Finance and Corporate and Senior Associate Oswald Kan who advised on the financing elements of the deal. Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, provided registered office services. Dechert’s Hong Kong and London teams acted as lead onshore counsel to Ping An.

Maggie commented: “We are pleased to have advised Ping An on this landmark transaction. Our team continues to provide outstanding expertise and service to clients and deals like this are a testament to Harneys’ unparalleled capabilities within the market.”

Harneys advises on all aspects of the life of a Cayman, BVI, Cyprus or Luxembourg fund including formation, restructuring and closure, both in planned and distressed scenarios. The firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.