Zhen Chen

Practice Areas

Ms. Chen Zhen specializes in investment funds, private equity and investment management.

Career

Prior to joining the firm, Ms. Chen practiced at the New York office of a Wall Street law firm.

Ms. Chen is ranked as “Band 3” of “Investment Funds” sector by Chambers 2024 Greater China Region Guide, as a “Leading Individual” of “Investment Funds” sector of The Legal 500, as “Highly Regarded” of “Investment Funds” sector of IFLR 1000.

Ms. Chen is a member of the mediation commission of the Asset Management Association of China (AMAC), de facto private fund regulator of China and a member of the fund practitioner qualification examination panel of AMAC. Ms. Chen is frequently invited to comment on proposals for regulations and self-regulatory rules by relevant regulators and self-regulators, including CSRC, AMAC and IAMAC.

Education

Experience

Sponsor Representations:

-Represented Morgan Stanley in forming its first, second and third flagship RMB Funds in Hangzhou.

-Represented Boyu Capital in structuring and forming its first, second, third and fourth RMB flagship private equity funds in China; represented Boyu Capital in forming various co-investment funds, case funds and AIV for its flagship funds’ downstream investments.

-Represented the direct-investment arm of CICC in structuring and forming its first RMB private equity fund; represented CICC Capital, the successor of CICC’s direct-investment arm, in forming its second and third flagship private equity funds.

-Acted as lead counsel to Hopu Investment in connection with the acquisition of Global Logistics Properties Limited, the leading global provider of modern logistics facilities. The transaction was reported to be the then largest-ever private equity buyout of an Asian company by enterprise value.

-Represented Cainiao, the intelligent logistics platform under Alibaba, in structuring and forming its first logistics and warehousing fund, which is the first RMB “core” fund in the China market.

-Represented China Nuclear Power Corporation (CGN) in structuring and forming its third RMB private equity fund under the QFLP program in Shenzhen.

-Represented KKR in forming its first private fund manager in China and structuring and forming its first QDLP fund under the QDLP program of Hainan Province.

-Advised Oaktree Capital on structuring and forming a series of QDLP funds in Shanghai and Beijing, with underlying assets in offshore special opportunities, credit assets and private REITs.

-Represented Everbright in structuring and forming its second and third RMB mezzanine funds, which successfully received funding from major PRC insurance companies.

-Represented Hamilton Lane in structuring and forming its first S platform in China under the QFLP program of Shanghai, focusing on secondary transactions of RMB fund interests and assets in China.

-Represented Joy Capital in structuring and forming a RMB venture capital fund.

-Represented Vision Knight Capital in structuring and forming its second venture capital fund.

-Represented Dr. Li Kaifu and Innovation Works in connection with the structuring and formation of Beijing Innovation Works Investment Centre, an angel fund focusing on technology incubator strategy in Beijing.

LP Representations:

-Represented China Life Insurance in its investment in a series of PE funds, including the second RMB fund sponsored by CITIC PE.

-Represented New China Life Insurance in its investment into the eighth flagship fund of Providence Equity, focusing on media, communications, education and information services sectors.

-Represented China Life Insurance in connection with its investment into Blackstone Real Estate Partners VIII sponsored by Blackstone.

-Represented KKR in connection with an investment by China Reinsurance into a North America fund sponsored by KKR, which is the first outbound investment in PE fund by a PRC insurance company that was approved by the CIRC, the predecessor of CBIRC.

-Represented Carlyle in connection with an investment by China Reinsurance into one of the Asian funds sponsored by Carlyle.

-Represented JBIC and Mizuho Bank in connection with their investment into an FIVCIE fund co-sponsored by the Export-Import Bank of China and Tsing Capital.

-Represented Goldstone Investment, the direct investment arm of CITICS, in connection with its investment into CITIC Mezzanine Fund I, CDH RMB Fund II and Legend RMB Fund II, respectively.

-Represented Goldstone Real Estate in connection with the formation of a special fund with PingAn for their investment in several European infrastructure funds.

-Represented various state and local government-backed guidance FoFs, including the State Industrial Reform and Upgrade Fund, China Cultural Industrial Investment Fund, Henan Provincial Huirong Venture Capital Fund, etc., in their investments in PE funds, VC funds and other alternative funds in China.