A cross-border team from Baker McKenzie in Singapore and Hong Kong has advised LGT Group Foundation ("LGT") on its cornerstone investment in China Renaissance Holdings Limited ("China Renaissance"), an investment bank dedicated to China’s new economy businesses. China Renaissance successfully went public on the Main Board of The Stock Exchange of Hong Kong Limited on 27 September 2018, raising USD 347 million (approximately HKD 2.7 billion). As a cornerstone investor, LGT has acquired a USD 25 million stake in the business.

Other cornerstone investors include Alipay (Hong Kong) Holding Limited, Snow Lake China Master Fund, Ltd and Snow Lake China Master Long Fund, Ltd.

The transaction was led by Ai Ai Wong, principal at Singapore member firm Baker McKenzie Wong & Leow, and a member of Baker McKenzie's Global Executive Committee and deputy chair of the Asia Pacific Regional Council. She was supported by partners Dorothea Koo and Ivy Wong, and associate William Cho in Hong Kong.

Commenting on the deal, Mrs Wong said, "We are delighted to have supported LGT in this deal, which further strengthens its network and investment expertise in Asia's fast-growing new economy sectors. This transaction demonstrates the depth and breath of our capabilities spanning across investment structures, tax issues and financial services regulations. Our cross-border team provided integrated, seamless services to deliver the comprehensive advice needed for the successful completion of this transaction."
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