Tan Woon Hum

Establishment of:

(i) Fund Formation

• more than 200 Variable Capital Company (VCC) funds, comprising of different strategies and investment products including hedge funds, PE/VC, real estate, credit and distressed assets, being one of the VCC pioneer lawyers involved in the MAS VCC Pilot Programme;
• a US$5 billion Singapore umbrella VCC with an initial three (3) sub-funds to generate returns primarily through long-term capital appreciation by making private equity Investments (including distressed assets) globally, with a primary focus on North America and Europe;
• a Singapore umbrella VCC with a total target fund size of US$1.2 billion comprising two (2) initial sub-funds, with the objective of achieving medium- to long-term capital growth at relatively low risk through investing predominantly in equity and equity-related securities issued by companies operating in India;
• a US$400 million Singapore umbrella VCC comprising four (4) sub-funds to make global macro asset allocations across various asset classes;
• a US$400 million Singapore umbrella VCC with an initial sub-fund to provide investors with access to private debt and private equity investment opportunities in the shipping and maritime industry globally, with a primary focus in Asia, Europe and the United States;
• a US$300 million Singapore umbrella VCC with an initial sub-fund to invest globally in a diversified portfolio of sustainably managed assets across the forestry landscape, with a geographical focus on South-East Asia, North America, South America and Africa;
• a Singapore standalone VCC with a target fund size of GBP100 million, with the objective of investing in a concentrated portfolio of investments globally (including equity and debt securities) in mobility and transit ticketing solutions for private and public transport;
• a US$100 million semi-liquid private credit fund structured as a Singapore umbrella VCC, investing in private credit instruments including term loan facilities, structured credit, direct and indirect lending opportunities, as well as underlying funds;
• a Singapore umbrella VCC with an initial sub-fund of up to S$100 million, investing indirectly in private credit investments in Australia’s commercial real estate sector;
• a Greater China equities Cayman fund with a target fund size of US$1 billion;
• an oil & gas infrastructure Cayman segregated portfolio company (SPC) fund with a target fund size of US$1 billion;
• a global liquid futures contracts Cayman SPC fund with a target fund size of US$500 million;
• an Asian fixed income Cayman SPC fund with a target fund size of US$500 million, with various segregated portfolios;
• a multi asset class Cayman SPC fund with 10 segregated portfolios of aggregate target fund size of US$310 million;
• a start-up & venture capital (VC) Cayman SPC fund with a target fund size of US$300 million;
• a Greater China mezzanine financing Cayman LP fund with a target fund size of US$300 million;
• a Singapore corporate property fund with a target fund size of AUD100 million, investing in New South Wales;

(ii) Private Client & Wealth Management

• numerous Single Family Offices and Family Trusts, single-family funds, and Sections 13O and 13U structures for wealth planning and succession planning; these involved families from Europe, Greater China, North Asia, South Asia, Indonesia and Singapore; the legal advice, explanation and documentation were often in Chinese for Chinese-speaking clients; the experience include advice on the super-structure of the family office and investment vehicle, migration of personnel, setting up the family office and private trust/foundation, working with the local regulators and agencies on the permanent residence status, employment passes and tax incentives, as well as the EDB Global Investor Programme; and

(iii) Fund Management Companies

• hundreds of fund management companies, independent/external asset managers and multi-family offices, including obtaining the Capital Markets Services licences and exemptions, VCFMC licences, drafting and reviewing all relevant documentation and handling the regulators. He has also advised on many mergers and acquisitions of fund management companies and works closely with the regulators to address any issues or concerns.

He was lead partner in several notable REITs deals, including IPOs of about 30 REITs (including 4 CapitaLand REITs, 4 Mapletree REITs, 2 ARA REITs, 2 Lippo REITs, ESR REIT, Paragon REIT, Keppel DC REIT, Centurion Accommodation REIT, NTT DC REIT, a few US REITs and a few PRC REITs).

• in Singapore, the first distressed REIT, first dual listing of a REIT, first exchangeable collateralised securities issuance by a REIT, first REIT takeover (S$517.3 million asset sale of Saizen REIT); various mergers of REITs; various changes of trustees of REITs;
• major local/overseas acquisitions, divestments, joint ventures, debt financing and medium-term notes programme, bonds issuances by various REITs including ARA-Logos Logistics Trust, CapitaLand China Trust, CapitaLand Integrated Commercial Trust, Elite Commercial REIT, Fortune REIT, Keppel REIT, OUE Hospitality Trust, Parkway Life REIT and other REITs.