Goodwin expands booming PE practice

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Goodwin
Edwin Chan

Global law firm Goodwin has hired Edwin Chan as a partner in its global private equity practice in Hong Kong.

Chan joined from Paul Weiss Rifkind Wharton & Garrison in Hong Kong, where he was a counsel for nearly five years. His practice focuses on private equity transactions, investment restructuring and exits.

“Market data in March 2021 shows that Asia-focused private equity firms had over USD477 billion in available dry powder,” Yash Rana, chair of Goodwin’s Hong Kong office, told Asia Business Law Journal. “Based on our current pipeline and the level of activity we see in the market, it appears that record levels of investment activity will continue for the rest of the year.

“We have seen sustained high levels of investment activity in the technology, biotech and financial services (including fintech) sectors. We know that the current growth cycle has lasted longer than any in recent memory, and we know that these cycles will turn at some point.

“I believe private equity firms should, and many do, remain vigilant for signs of a slowdown and adjust their respective investment philosophies accordingly.”