Justin Dolling
Overview
Justin is “a top choice of counsel regarding fund investment and closing mandates, principally advising GPs.” He “has seen it all in the private equity world and is very creative in being able to use that experience to understand any issues and work through to a solution.” - Chambers Greater China and Chambers Asia-Pacific
Justin is an investment funds partner in the Hong Kong office of Kirkland & Ellis. Justin advises private equity fund managers in relation to the structuring and establishment of private equity investment funds, secondary transactions, carried interest arrangements and co-investment plans. He also advises on a broad range of transactions relating to the restructuring of private equity funds, leveraging and refinancing of such funds and buy-outs and spin-offs relating to the management houses.
Prior to relocating to Hong Kong, Justin spent more than 10 years in London working with leading private equity sponsors with a particular emphasis on structuring complex multi-jurisdictional funds. Justin has represented, among others, Actera, Archer Capital, Ascendent Capital, BGH Capital, Carlyle, Centurium Capital, CITIC Capital, CPPIB, Creador, Crescent Point, Dignari Capital, Edelweiss Group, Forebright Partners, FountainVest Partners, Genesis Capital, GLP, HarbourVest, Hillhouse Capital, Kerogen Capital, Lime Tree Capital, NewQuest Capital Partners, OTPP, Orchid Asia, Saratoga Capital, SSG Capital, TPG Capital, Värde Partners and Warburg Pincus.
Justin has been recognized for several years as a leading lawyer for investment funds by a number of reputable legal publications, including in the latest edition of Chambers Greater China (Band 1), Chambers Asia-Pacific (Band 1), Chambers Global (Band 1), Legal 500 Asia-Pacific (Hall of Fame), IFLR1000 (Highly Regarded) and Who's Who Legal (Thought Leader). According to IFLR1000 and Chambers Asia-Pacific, Justin is described as someone “always on top of detail and able to cut to the core of the matter in both a technical legal and commercial way”, and clients and market commentators praised for his "excellent balance between commercial pragmatism and strong technical ability" and “technically very strong, well-liked by clients and very responsive." (2018, 2020 & 2021)
Experience
Representative Matters
Actera Partners - formation of Actera III, Actera II (US$1 billion) and Actera I (US$450 million) private equity funds focused on investment in Turkey
Affinity Partners - formation of Affinity Asia Pacific IV (US$3.8 billion)
Archer Capital - formation of Archer Capital Fund 5 (A$1.5 billion) and Archer Capital Growth II (A$300 million)
Ares SSG Capital - formation of SSG Capital Partners VI, SSG Capital Partners V (US$2.7 billion), SSG Capital Partners IV (US$1.7 billion), SSG Secured Lending Opportunities III (US$1.6 billion) and SSG Secured Lending Opportunities II (US$800 million) and acquisition of SSG Capital by Ares
Ascendent Capital - formation of Ascendent Capital Partners III and Ascendent Capital Partners II (US$600 million)
BGH Capital - formation of BGH Capital Fund II (A$3.6 billion), BGH Capital Fund I (A$2.6 billion) and numerous co-investment vehicles
Centurium Capital - formation of Centurium Capital Partners 2018 (US$2 billion) and numerous co-investment vehicles
Creador - formation of Creador V, Creador IV (US$650 million), Creador III (US$415 million), Creador II (US$330 million), Creador I (US$130 million) and numerous co-investment vehicles
Dignari Capital - formation of DCP Asia Credit Fund III and DCP Asia Credit Fund II (US$625 million)
Forebright Capital - formation of Forebright New Opportunities Fund and China Special Opportunities Fund III
GL Capital - formation GL China Opportunities Fund IV, GL China Opportunities Fund III, GL China Opportunities Fund II, GL China Opportunities Fund and numerous co-investment vehicles
Genesis Capital - formation of Genesis Capital III, Genesis Capital II (US$850 million), Genesis Capital I (US$500 million) and numerous co-investment vehicles
InvAscent - formation of India Life Sciences Fund III (US$250 million)
Ironbridge Capital - formation of Ironbridge Capital Fund II (A$1 billion) and numerous co-investment vehicles
L-Capital - formation of L-Capital Asia Fund III (US$1.45 billion)
LimeTree Capital - formation of China Car Park Investment Fund II, China Car Park Investment Fund and numerous club funds and co-investment vehicles
NewQuest Capital - formation of NewQuest Asia Fund IV (US$1 billion) and acquisition of NewQuest by TPG
Orchid Asia - formation of Orchid Asia VII (US$1.3 billion), Orchid Asia VI (US$920 million) and Orchid Asia V (US$650 million)
PAG - formation of PAG Asia III (US$6 billion)
Pacific Road - formation of Pacific Road Resources Fund II and Pacific Road Resources Fund
Saratoga Capital - formation of Saratoga Asia III (US$650 million)
Search Group - Sale of Squadron Capital, an Asian based fund of funds platform, to FLAG Capital Management
Värde Partners - formation of Värde Asia Credit Fund (US$400 million) and Indies/ Värde investment platform in Asia Indonesia
Warburg Pincus - Warburg Pincus China-SouthEast Asia II (US$4.25 billion), Warburg Pincus China Fund (US$2 billion) and numerous co-investment vehicles
Equity arrangements relating to the 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 in its US$11.6 billion acquisition of GLP. This transaction was named Deal of the Year and Best Leveraged Finance Deal by FinanceAsia Achievement Awards 2017, Best Cross-border M&A Deal by FinanceAsia China Awards 2018 and M&A Deal of the Year: Southeast Asia by The Asia Legal Awards 2018
Various fund investments, co-investments and secondary transactions for CPPIB, HarbourVest and OTPP
Prior Experience
- Partner, 2006–2007
- Associate, 2000–2006
- Associate, 1998–1999
- Associate, 1997–1998
More
Recognition
Band 1 in Investment Funds: Private Equity (International Firms) - China, Chambers Greater China (2022–2023), Chambers Asia-Pacific (2015–2021)
Band 1 in Investment Funds (International Firms) – China, Chambers Global (2023)
“Hall of Fame”, Investment Funds - Hong Kong, Legal 500 (2021–2023)
“Highly Regarded”, Private Equity, IFLR 1000 (2018–2023)
“Highly Regarded”, Private Equity Funds, IFLR 1000 (2018, 2020–2023)
“Global Leader”, Funds Formation, Who’s Who Legal (2023)
“Thought Leader” and “National Leader”, Private Funds - Mainland China & Hong Kong SAR, Who’s Who Legal (2022)
“Leading Individual”, Investment Funds - Hong Kong, Legal 500 (2016–2020)
“Highly Regarded”, Investment Funds, IFLR 1000 (2019)
“Leading Lawyer”, Private Equity, IFLR 1000 (2015–2017)
“Leading Lawyer”, Private Equity Funds, IFLR 1000 (2017)
“Leading Lawyer”, Investment Funds, IFLR 1000 (2015–2016)
Credentials
Admissions & Qualifications
- 2011, Hong Kong, Solicitor
- 2005, Admitted to Practice as a Solicitor of England and Wales
- 1999, South Australia (non-practicing)
Education
- University of South AustraliaGraduate Certificate in Legal Practice1998
- The University of AdelaideBachelor of Law1996
- The University of AdelaideBachelor of Commerce1994