Peng Yu

Partner Mergers & Acquisitions Private Equity
Kirkland & Ellis

Hong Kong +852 3761 3527

Peng Yu

Overview

Peng has extensive experience in private equity and growth equity deals, and is knowledgeable, friendly, efficient, commercial and responsive.” - Chambers Greater China 2023

Peng Yu is a partner in the Hong Kong office of Kirkland & Ellis. He focuses his practice exclusively on private equity matters and mergers and acquisitions.

Mr. Yu has extensive experience in advising global and regional private equity and corporate clients on a wide range of strategically important transactions, including buyouts, take-privates, PIPEs, growth capital investments, divestitures, joint ventures and other cross-border transactions, particularly those with a China nexus. These transactions span sectors as diverse as technology, education, health care/life sciences, consumer products, industrials, infrastructure and real estate.

Mr. Yu has been recognized by multiple reputable legal publications such as Chambers Greater China, Chambers Asia-Pacific, IFLR 1000 and The Legal 500 Asia Pacific for his private equity and M&A work, and China Law & Practice named him “TMT Lawyer of the Year” in 2018. Chambers Greater China noted that Mr. Yu “maintains an active practice assisting international investors with their inbound and outbound exits and investments in primarily Asia-based target companies and assets”. Clients also cite the quality of Mr. Yu’s counsel, as well as his ability to leverage his bilingual capabilities and experience working with different cultures to guide clients through multijurisdictional issues arising in cross-border transactions. As one client notes, Mr. Yu is “commercial, solution-oriented and very hands-on.”

An investor consortium in its acquisition and development of Subway’s China business, which operates the quick-service-restaurant business in mainland China under the master franchise granted by the SUBWAY® brand owner. It is the largest master franchise in Subway history and reportedly one of the largest across the global quick-service-restaurant industry. This transaction was named “Deals of the Year 2023” by China Business Law Journal

Alibaba in its:

  • US$1.15 billion investment in Farfetch (in conjunction with Richemont)*
  • US$1.38 billion PIPE investment in ZTO Express*
  • US$1.4 billion take-private of iKang Healthcare*
  • PIPE investment in, and related joint venture with, Dufry AG*
  • Joint venture with Marriott*
  • Strategic partnership with Richemont and joint venture with YOOX Net-A-Porter Group*
  • Various acquisitions and investments across technology and consumer sectors*

Bain Capital in its:

  • Acquisition of World Wide Packaging*
  • Acquisition of a China-based packaging business*
  • Auction sale of Gymboree Play & Music business*

Baring Private Equity Asia in its:

  • US$1 billion take-private acquisition of Ginko International
  • Acquisition, alongside Bright Food Group, and subsequent US$1.8 billion auction sale, of UK-based Weetabix Food Company*

MBK Partners in its acquisition, and subsequent auction sale, of Apex Logistics. This transaction was named “Private Equity Deal of the Year” by Asia Legal Awards 2022*

Nexus Point Capital in its leveraged acquisition of Honour Lane Shipping Ltd. This transaction was named “Deal of the Year - Mid Cap” by AVCJ Private Equity & Venture Capital Awards 2022

TPG:

  • in its joint venture and hotel acquisition project with Huazhu Hotels Group (previously known as China Lodging Group)*
  • take-private of ShangPharma*
  • various investments in China-based businesses in consumer, education and technology sectors*

China Resources Capital in its investments in health care and infrastructure sectors*

DST Global in its various investments in technology and consumer sectors across Asia*

Didi Chuxing in its fundraising for its autonomous drive business*

NetEase in its fundraising for its cloud music business and various other investments and acquisitions*

*Prior to joining Kirkland

More

Thought Leadership

Publications

Quoted, “2019 in Asia: China shapes the region,” Private Equity International (January 3, 2019)

Quoted, “Hillhouse’s $10.6B Fund Showcases Budding Asia PE Market,” Law360 (September 19, 2018)

Recognition

Leading Lawyer, Private Equity: Buyouts & Venture Capital Investment (International Firms) – China, Chambers Greater China (2022–2024), Chambers Asia-Pacific (2019–2021)

“A-List Growth Drivers (International)”, China Business Law Journal (2023–2024)

“Highly Regarded”, Private Equity – Hong Kong, IFLR1000 (2023)

“Rising Star Partner”, M&A – Hong Kong, IFLR1000 (2023)

“A-List China’s Elite Lawyers (Foreign Firms)”, China Business Law Journal (2022) 

“Rising Star”, IFLR1000 (2017-2022)

“IFLR Asia Future Leaders”, IFLR (2021)

“A-List China’s Elite 100 Lawyers (Foreign Firms)”, China Business Law Journal (2020)

“TMT Lawyer of the Year”, China Law & Practice Awards (2018)

Credentials

Admissions & Qualifications

  • 2015, Hong Kong, Solicitor
  • 2008, New York

Languages

  • English
  • Mandarin

Education

  • Columbia Law SchoolLL.M.
    James Kent Scholar
  • University of International Business and EconomicsLL.M. (Hons)
  • University of International Business and EconomicsLL.B. (Hons)