Skip to main content
Link to Walkers homepage

Advising Advantage Partners on the US$424 million final close of Asia Fund II

Jun 1, 2026

Our work
smooth blue wave pattern with a light-to-dark gradient effect

We acted as Cayman Islands legal counsel to Advantage Partners on their final close of Advantage Partners Asia Fund II, securing total commitments of US$424m. The close underlines the sustained investor appetite for Asia focused private equity strategies despite a challenging global fundraising environment.

The transaction was led by Investment Funds & Corporate partner Ally Lam, supported by James Gaden and Henry Williams. Our Asia Regulatory & Risk Advisory team, led by partner Natalie Curtis with support from Jason Hung and Bonny Louw, advised on regulatory aspects of this transaction. The multidisciplinary team worked closely with Walkers Professional Services and lead counsel Debevoise & Plimpton.

Continued investor support for Asia‑focused control buyout strategies

 

Asia Fund II builds on Advantage Partners’ long-standing Asia strategy, applying operational and strategic capabilities developed in Japan to portfolio companies across the region. The successful close reflects continued confidence in control buyout strategies targeting mid‑cap businesses across Asia ex‑Japan. Advantage Partners also looks to increase the value of its portfolio companies in Asia by delivering a Japan-linked value creation plan.

The fund attracted commitments from a globally diversified investor base across Japan, Asia, Europe and North America. It has already completed its first investment in ITS Science & Medical in Singapore and maintains an active pipeline across multiple Asian jurisdictions.

Commenting on the transaction, Ally Lam said, “This transaction reflects our long‑standing relationship with Advantage Partners and our continued focus on providing practical offshore and regulatory advice as fund strategies evolve across market cycles”.

Supporting clients through complex Asia‑focused fund raisings

 

The transaction highlights the importance of integrated investment funds and regulatory advice in Asia‑focused fund raisings. The Walkers team supports asset managers and sponsors with clear structuring, regulatory certainty and seamless cross‑border execution, helping fundraises progress efficiently and with confidence.

With deep experience advising on Cayman Islands and BVI fund structures and a strong Asia‑Pacific focus, we work alongside clients throughout the fundraising lifecycle, supporting both immediate objectives and long‑term growth.

Asset Management & Investment FundsHong Kong

MEDIA CONTACT

Shana Ray

Head of Business Development - Asia and Middle East

T/+852 2596 3302
M/+852 9030 6084
E/Email Shana Ray

KEY CONTACTS

Get in touch with our team

James Gaden
James Gaden

James Gaden

Partner

Hong Kong

T

+852 2596 3433

M

+852 9316 8070

E

Email James Gaden
View profile
Natalie Curtis
Natalie Curtis

Natalie Curtis

Partner

Hong Kong

T

+852 2596 3357

M

+852 9225 8084

E

Email Natalie Curtis
View profile
Ally Lam
Ally Lam

Ally Lam

Partner

Hong Kong

T

+852 2596 3361

M

+852 6463 9601

E

Email Ally Lam
View profile
Jason Hung
Jason Hung

Jason Hung

Counsel

Hong Kong

T

+852 2596 3355

M

+852 6973 3340

E

Email Jason Hung
View profile
Henry Williams
Henry Williams

Henry Williams

Counsel

Hong Kong

T

+852 2596 3323

M

+852 6463 9602

E

Email Henry Williams
View profile
Bonny Louw
Bonny Louw

Bonny Louw

Associate (Legal Manager)

Hong Kong

T

+852 2596 3388

E

Email Bonny Louw
View profile

Get the latest insights and expertise in your inbox 

Sign up
logo footer

Connect with us

FacebookFacebook
InstagramInstagram
LinkedInLinkedIn

Employee login

Self Service Password ResetWalkers AnywhereWalkers Sharefile
Legal notices/Cookies policy

All rights reserved - © 2026 Walkers Global