Ashurst represented Delta Capital Myanmar (formerly known as PMM Partners) as lead fund counsel on the establishment of their second Myanmar-focused private equity (PE) fund, which successfully closed on a seed round of US$30 million capital commitments on 1 November 2016.
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The fund is sponsored by Hong Kong-based asset manager Simon Murray & Company, and one of Myanmar’s leading business conglomerates, Serge Pun & Associates (Myanmar). It aims to raise US$100 million for direct investments in companies principally based or incorporated in Myanmar and with primary business operations in Myanmar.
The second fund comes at a time when real political change, recent years of reforms and a peaceful transition to the new NLD-controlled government is expected to lead to long-term high economic growth and an improving investment environment.
Legal counsel: The Ashurst team was led by counsel Dean Moroz (Hong Kong), with support from Ashurst’s global network including: partner James Comber, senior associate Emily Austin, senior associate Derek Leung, trainee Victoria Yeh, partner Ben Hammond and associate Colin Hung, all of Hong Kong; partner Jake Green and associate Emily Torrens in London; partner David Nirenberg and counsel Sharon Kim in New York, partner Margaret Sheehan and partner Tae Jeon in Washington DC.
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