Ron Cheng

Some of the matters in which Ron has handled include:

Investment Funds / Private Equity / Venture Capital

• Establishing investment funds with strategies in private equity, venture capital, hedge, fund-of-funds, cryptocurrency, real estate, and other asset classes which are typically structured as VCCs, limited partnerships, unit trusts or private limited corporations.

• Advising clients on obtaining various types of capital markets services licences (in particular, the AILFMC or VCFM regime) and the establishment of single-family offices (SFOs) and multi-family offices (MFOs), in Singapore.

• Advising on the acquisition of licensed fund management companies in Singapore.

• Advising a licensed fund manager on the transfer of an investment fund managed by it to another incoming manager.

• Advising a listed group of companies on obtaining a capital markets services licence in fund management for venture capital funds and establishing a venture capital fund, of which a government-linked entity is a lead investor.

• Advising a Dutch pension fund asset manager as lead investor in a private equity transaction, involving a tax-exempted fund managed by a related corporation of a major Indian real estate developer.

• Advising a Singapore licensed fund manager on the set up of a Singapore master-feeder fund structure investing into Indonesian real estate through private credit arrangements.

• Advising various Malaysian State-owned entities on their investments into a VCC which invests into venture capital companies.

• Advising an Indonesian State-owned entity on its investments into a VCC which invests into non-performing loans in Indonesia.

• Advising a State-owned entity in South Asia on its potential investment as anchor investor into a limited partnership fund investing in start-up companies in conjunction with a bootcamp / accelerator program.

• Advising a Singapore fund manager backed by a prominent Chinese fund management group and an international bank in its establishment of Cayman funds and advising on complex regulatory compliance.

• Advising sponsors on their cross-border investment into a VCC which is intended to hold companies with concession rights in mining in various jurisdictions.

• Advising fund structures on applying for the section 13O or section 13U tax incentive schemes. The latter includes various permutations of Feeder-Master-SPV structures.

• Advising funds with non-tradable listing on their compliance requirements with the Monetary Authority of Singapore and the Singapore Exchange.

• Advising major international banks and private funds on their funds regulatory compliance issues, including notification of restricted schemes and annual declarations, and advising on their distributorship agreements.

• Advising Singapore start-up companies or their lead investors in private equity or venture capital fund-raising through seed and multiple Series rounds.

Mergers & Acquisitions / Joint Ventures / Corporate Restructuring

• Advising a well-known Singapore real estate company in their joint venture with an international real estate investment fund, and the subsequent provision of operator and property management services to the portfolio real estate assets.

• Advising a major snack company from Germany in their joint venture with an Indian company specialising in the production of cashew nuts and the parties’ subsequent multi-million-dollar investments into the joint venture company.

• Advising a Singapore corporation in its sale of the ERA real estate group of companies.

• Advising a Singapore subsidiary of a United States-based conglomerate in its private acquisition of shares in a Singapore company (involving the transfer of a JTC property) for S$35 million.

• Advising a United States-based conglomerate on the amalgamation of two of its Singapore subsidiaries, one of which is the registered owner of a JTC property.

• Advising an SGX-listed company in the construction industry on its proposed participation as leading member of a Consortium in the design, construction, and operation of a new international airport structured as a Build-Operate-Transfer project.

• Advising an SGX-listed Bermuda company in its acquisition of selected assets (including land, buildings, plant, and machineries) worth about S$20 million from a ceramics company in China.

Corporate Finance / Capital Markets

• Advising an institutional guarantor and the foreign issuer in relation to the update of an existing multi-currency euro-certificates of deposit programme (and the related security documentation) to, inter alia, increase the programme size to an amount of A$3 billion.

• Advising a corporate finance advisory firm on a private placement exercise of S$6 million worth of shares to places in Hong Kong and Singapore.

• Advising a trade-related financial services provider in its investment into a fund specialising in trading receivables.

• Advising a Japanese conglomerate in their pre-IPO cornerstone investment of about S$50 million in a listed commercial trust and an investment of about S$765,000 in a business space fund.

• Advising the manager of a real estate investment trust which was proposed to be listed on the SGX-ST.

Employment Law

• Advising various clients on employment law issues in Singapore, such as contract formation, employee share option schemes, vesting agreements, termination of employment, leave and retrenchment benefits, employee insurance, and the duties and liabilities of employers and employees.