As a member of our Private Funds Practice, David Azcue represents sponsors and managers of private investment funds, focusing on the structuring, formation, fundraising, compliance and ongoing operations of their funds, co-investment vehicles and other alternative investment products. He also advises sponsors on carried interest planning, management company structuring and internal governance matters. Additionally he represents investors making substantial investments in private funds and other collective investment schemes.
David has worked on some of the largest fundraisings in Asia, including Yunfeng Capital Limited in connection with their $1 billion Fund II and Advantage Partners in connection with their ¥215 billion Fund IV Series Funds. He has represented Advantage Partners since 2007, advising with respect to their IV-S and InfleXion series funds in addition to the Fund IV Series Funds. David has particular experience in Japan, assisting offshore sponsors and managers seeking to admit Japanese investors, Japanese investors seeking to invest in offshore investment funds, and offshore investors seeking to invest in Japan-focused funds, including representation of Nissay Asset Management in connection with offshore investments, Mizuho Bank, Ltd. and Unison Capital in connection with “Volcker Rule” and other regulatory matters, and the Hong Kong Monetary Authority and other offshore investors in connection with investments into onshore private funds.
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- Advantage Partners in multiple fundraisings, including the ¥215 billion AP IV series funds (the largest Japan-focused fund ever raised), AP’s “InfleXion” series funds and the ¥20 billion AP IV-S series funds.
- Yunfeng Capital in connection with the establishment of Yunfeng Fund II, L.P., with US$1.1 billion in aggregate commitments.
- SSG Capital in connection with multiple fundraisings, including the establishment of SSG Capital Partners III, L.P., with commitments of $915 million, as well as SSG Capital Partners II, L.P.
- New Horizon in connection with the establishment of New Horizon Capital III, L.P., with US$750 million in commitments, and New Horizon Capital IV, L.P., with US$1 billion in commitments.
- NewQuest Capital with the formation and raising of US$300 million for their second direct secondaries private equity fund (the largest Asia-based direct secondaries fund in Asia).
- Jiuding China Growth Fund II, L.P. with the establishment of their second U.S. dollar fund.
- Schulze Global with multiple fundraisings, including the formation and raising of $85 million for the first ever Ethiopia private equity fund.
David has been designated as a leading funds lawyer and described as “meticulous and forthright” in LawDragon: Insights: Private Funds (2014).
University of Michigan Law School, 2003 J.D.
Michigan Law Review, Editor (2001-2003)
University of Pennsylvania, 1993 B.A.
David Azcue is Counsel in Simpson Thacher’s Tokyo office and a member of the Firm’s Private Funds Practice. David’s practice focuses on the formation and operation of private equity funds and compliance matters for investment advisors, with a particular focus on Japan. He has represented sponsors such as Advantage Partners, Yunfeng Capital, NewQuest Capital, SSG Capital, Schulze Global, and Jiuding Capital as well as investors and investment managers such as Nissay Asset Management, the Hong Kong Monetary Authority and Mizuho Bank, Ltd. in connection with investments in private funds.
David worked in the Firm’s Beijing office from 2013 to 2015, prior to which he worked in the Firm’s Tokyo office from 2006. He has spent most of the past 25 years in Japan and is fluent in spoken and written Japanese. He also speaks Spanish and is proficient in spoken Mandarin and written Chinese.
David holds a J.D. from the University of Michigan Law School, where he was Associate Editor of the Michigan Law Review. He received his B.A. from the University of Pennsylvania with distinction.