White & Case LLP - News - White & Case Advises Pacific Century Group on Purchase of AIG Investment Advisory and Asset Management Business

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White & Case Advises Pacific Century Group on Purchase of AIG Investment Advisory and Asset Management Business

Hong Kong, New York September 10, 2009 ... Global law firm White & Case LLP advised Richard Li's Hong Kong-based Pacific Century Group (PCG) on its approximately US$500 million purchase of AIG's investment advisory and asset management business. The deal, which signed on September 5 and is expected to close by year-end, marks the first sale of a major business unit by AIG's new corporate leadership.

The unit, AIG Investments, is based in New York and operates in 32 countries and manages US$89 billion of investments for institutional and retail clients, across private equity, hedge funds of funds, equities and fixed income. Pacific Century's current interests are focused in infrastructure, property, satellite communications and other investments in the Asia-Pacific region across Singapore, Hong Kong and Japan.

The team advising PCG was split between Asia, PCG's home base, and New York, where the sale process was run by AIG and its advisors. White & Case's Hong Kong, New York, Tokyo, London and Palo Alto, California, offices were involved to address the significant jurisdiction specific advice needed.

John Hartley, the partner leading the Asia team, said: "Our team has had a long history of working with this group in Asia. What was particularly gratifying on this transaction was the opportunity to support the client across our global network."

Steve Teichman, the partner leading the New York team, added: "It was very satisfying to finally reach a signing on this important transaction for PCG after several months of intense bidding and negotiation, particularly given the intense scrutiny this deal attracted. The deal was about as complicated as they come, given the global nature of the business being acquired, the need to separate it from the larger group and the associated complicated due diligence and regulatory issues."

In addition to Hartley and Teichman, the White & Case team included partners Matthew Kautz (M&A, New York), Monica Arora (Investment Funds, New York), Jeremy Leifer (M&A, Hong Kong), Bill Dantzler and Sang Ji (Tax, New York), Sharon Hartline (Funds and Regulatory, Hong Kong), and Ken Raskin (Executive Compensation, Benefits and Employment Law, New York); counsels Baldwin Cheng (Bank Finance, Hong Kong), Mark Hamilton (Executive Compensation, Benefits and Employment Law, New York) and Howard Wettan (Intellectual Property, Palo Alto); and associates Andy Shiner, Martin Ulfson and Meredith Beuchaw (M&A, New York), Karen Sin (M&A, Hong Kong), Steve Gee (Tax, New York) and Priscilla Wong (Bank Finance, Hong Kong).

About White & Case
White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices.

Contact:
Christopher Rieck
Media Relations Manager
White & Case, LLP
212 819 7960

	Press Releases
Expertise Banking Bank Advisory Financial Restructuring and Insolvency Lawyers Meredith Johanna Beuchaw Baldwin Cheng J. William Dantzler Jr. Mark T. Hamilton Sharon E. Hartline Sang I. Ji Matthew J. Kautz Howard Wettan John Hartley Steven Teichman	White & Case Advises Pacific Century Group on Purchase of AIG Investment Advisory and Asset Management Business Hong Kong, New York September 10, 2009 ... Global law firm White & Case LLP advised Richard Li's Hong Kong-based Pacific Century Group (PCG) on its approximately US$500 million purchase of AIG's investment advisory and asset management business. The deal, which signed on September 5 and is expected to close by year-end, marks the first sale of a major business unit by AIG's new corporate leadership. The unit, AIG Investments, is based in New York and operates in 32 countries and manages US$89 billion of investments for institutional and retail clients, across private equity, hedge funds of funds, equities and fixed income. Pacific Century's current interests are focused in infrastructure, property, satellite communications and other investments in the Asia-Pacific region across Singapore, Hong Kong and Japan. The team advising PCG was split between Asia, PCG's home base, and New York, where the sale process was run by AIG and its advisors. White & Case's Hong Kong, New York, Tokyo, London and Palo Alto, California, offices were involved to address the significant jurisdiction specific advice needed. John Hartley, the partner leading the Asia team, said: "Our team has had a long history of working with this group in Asia. What was particularly gratifying on this transaction was the opportunity to support the client across our global network." Steve Teichman, the partner leading the New York team, added: "It was very satisfying to finally reach a signing on this important transaction for PCG after several months of intense bidding and negotiation, particularly given the intense scrutiny this deal attracted. The deal was about as complicated as they come, given the global nature of the business being acquired, the need to separate it from the larger group and the associated complicated due diligence and regulatory issues." In addition to Hartley and Teichman, the White & Case team included partners Matthew Kautz (M&A, New York), Monica Arora (Investment Funds, New York), Jeremy Leifer (M&A, Hong Kong), Bill Dantzler and Sang Ji (Tax, New York), Sharon Hartline (Funds and Regulatory, Hong Kong), and Ken Raskin (Executive Compensation, Benefits and Employment Law, New York); counsels Baldwin Cheng (Bank Finance, Hong Kong), Mark Hamilton (Executive Compensation, Benefits and Employment Law, New York) and Howard Wettan (Intellectual Property, Palo Alto); and associates Andy Shiner, Martin Ulfson and Meredith Beuchaw (M&A, New York), Karen Sin (M&A, Hong Kong), Steve Gee (Tax, New York) and Priscilla Wong (Bank Finance, Hong Kong). About White & Case White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices. Contact: Christopher Rieck Media Relations Manager White & Case, LLP 212 819 7960