Michael D. Rackham

Mr. Rackham’s experience includes advising:

• BPEA EQT Funds V and VI and portfolio company Vistra (BPEA EQT) on the merger of Vistra with Tricor, an existing BPEA EQT Fund VIII portfolio company, in a transaction which values the combined company at an enterprise value of US$6.5 billion ; this transaction was named Private Equity Exit of the Year (Large Cap) by The Asian Private Equity & Venture Capital Awards 2023
• Hillhouse Capital, HOPU, Global Logistic Properties (GLP) founder Ming Mei’s SMG, Bank of China Group Investment, and China Vanke and their affiliated entities in the US$11.6 billion acquisition of GLP, Asia’s leading warehouse operator; the transaction is the largest private equity-backed takeover in Asia (ex-Japan) to date, and 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*
• Hillhouse Capital on a range of matters, including its joint venture with Peet’s Coffee & Tea to operate coffee and tea retail outlets in Greater China under the Peet’s Coffee brand, its acquisition of a minority stake in a newly formed company that acquired Carestream’s dental digital business from Onex Corporation in partnership with Clayton, Dubilier & Rice, and in the pre-IPO financing round of a global artificial intelligence platform*
• Partners Group on a range of matters, including the sale of a portfolio company with global operations in the technology sector in the Southeast Asia region, and its US$300 million investment in DJ New Ease Group, a developer and operator of logistical and industrial real estate projects and asset manager in the PRC majority-owned and controlled by Warburg Pincus and its founder, Sun Dong Ping*
• The Carlyle Group, CITIC, and CITIC Capital Holdings in the US$2.08 billion acquisition of the McDonald’s operations in China and Hong Kong and negotiation of a 20-year master franchise agreement ― the largest McDonald’s franchise in the world; this transaction was named 2017 M&A Deal of the Year by Asia Legal Business*
• GIC, Singapore’s sovereign wealth fund, in the more than US$1 billion co-investment with Equinix in the form of a limited liability partnership to develop and operate xScale™ data centers in Japan*
• Warburg Pincus in its US$250 million investment in Converge ICT Solutions, a Philippines-based telecommunications provider*
• TPG Capital, PAG Asia Capital, and Ontario Teachers’ Pension Plan in connection with the acquisition of Cushman & Wakefield by the consortium’s portfolio company, DTZ, in a deal valued at US$2 billion*
• TPG Capital and TPG Growth on a range of matters, including in its SG$175 million investment in Singapore-based online property selling and sales group, PropertyGuru*
• Apax Partners and its portfolio company, Azentio Software, in its acquisition of the software products business of 3i Infotech, a listed Indian IT solutions company, and on its binding agreement to acquire Beyontec, a leading insurance technology company*
• L Catterton in its US$250 million investment in Jio Platforms, a next-generation Indian technology company and subsidiary of Reliance Industries; this transaction was named TMT Deal of the Year by The Asia Legal Awards 2021*
• Cartesian Capital Group in investments in its portfolio company and joint venture with Restaurant Brands International, Tim Hortons China, by Tencent, Sequoia Capital, and Eastern Bell Capital*
• A Middle Eastern sovereign wealth fund in its investment in the US$14 billion Series C equity financing of Ant Financial; this transaction was named Best China Deal and Best Financing (early stage to pre-IPO) by FinanceAsia Achievement Awards 2018 and Private Equity Deal of the Year by The Asia Legal Awards 2019*
• Global A&T Electronics Ltd. in its consensual restructuring, which restructured US$1.27 billion of secured bonds through a prepackaged bankruptcy filing and resulted in equity sponsors TPG Capital and Affinity Equity Partners retaining a majority equity stake in the company*
• CarVal Investors in its acquisition with Nithia Capital of Uttam Value Steel Limited and Uttam Galva Metallics Limited, the India-based manufacturers of steel and capital equipment products, as part of the corporate insolvency resolution process of the two companies*
• SilkEV, a U.S.-based engineering and design firm, in its joint venture with Chinese state-owned automaker FAW Group Corporation to make sports cars under the “HongQi” brand*

*Matter handled prior to joining Latham