Michelle Cheh

Michelle Cheh is a Partner in Simpson Thacher’s Hong Kong office, focusing on Private Funds and Funds Transactions. She has extensive experience in advising on both fund formation and secondary transactions in the Asia-Pacific region. She advises sponsors on the formation and structuring of private investment funds across numerous asset classes, including private equity, private credit and real estate. Her practice also focuses on GP-led and LP-led secondaries and liquidity solution transactions including continuation funds, LP portfolio sales, stapled secondary offerings, fund recapitalizations and restructurings and management team spin-outs.

Notable experience prior to joining Simpson Thacher includes advising:

Fund Formation

• Crescent Point Capital in the formation of its Crescent Point Capital Fund II and Crescent Point Capital Fund III
• GLP Capital Partners in the formation of China Logistics Fund III, China Logistics Value Partners Fund, China Income Partners Fund V, Vietnam Development Partners Fund, Vietnam Strategic Partners Fund and Hong Kong Industrial Value Partners
• PAG in the formation of PAG Asia III
• BGH Capital in the formation of its inaugural flagship BGH Capital Fund I
• TR Capital in the formation of TR Capital Fund IV and V
• A major global sponsor in the formation of its inaugural data center development fund in Japan

Secondary Transactions

• Private Equity International / Secondaries Investor Awards 2024 GP-Led Deal of the Year (APAC) - HarbourVest Partners and LGT Capital Partners as lead investors in the ChrysCapital $700 million continuation fund which invested in the India National Stock Exchange (NSE)
• Private Equity International / Secondaries Investor Awards 2024 LP-Led Deal of the Year (APAC) - LP portfolio sale by Azalea Asset Management, a wholly-owned subsidiary of Seviora and indirectly owned by Temasek
• Azalea in multiple LP portfolio transactions (over $3 billion)
• Cathay Life in multiple LP portfolio transactions (over $3 billion)
• Multiples Alternate Asset Management on its inaugural $430 million multi-asset continuation fund
• CDIB on its inaugural multi-asset continuation fund
• HarbourVest Partners in its investment in multiple team spin outs and multiple RMB:USD redenomination transactions (over $2 billion)
• TPG NewQuest in multiple secondary transactions (over $1 billion), including recently TPG NewQuest as the lead investor in the $230 million continuation fund sponsored by Navis Capital Partners
• Vertex Ventures on a $500 million Fund recapitalization

GP Advisory

• GLP Capital Partners Limited on the sale of its international business (excluding operations in Greater China) to Ares Management Corporation
• Crescent Point Capital on the sale of its fund management business to Ares Management Corporation

Consortium Representation

• GLP Pte. Ltd. and the consortium offeror comprising the Fung family and GLP, in its proposed privatization of Li & Fung (HKSE: 494)
• A consortium comprising Hillhouse Capital Management, HOPU Investment Management, Global Logistic Properties Limited (GLP) founder Ming Mei’s SMG, Bank of China Group Investment and China Vanke Co. or their affiliated entities in its $11.6 billion acquisition of GLP (SGX: MC0)

Prior to joining Simpson Thacher, Michelle worked in both Australian and U.S. law firms and represented Azalea, BGH Capital, GLP Capital Partners, HarbourVest Partners, Hillhouse Capital, NewQuest Capital Partners, PAG, TPG and TR Capital.

Michelle holds a LL.B. and B. Com. from Monash University. She is admitted to practice in Hong Kong and Victoria, Australia.