Baker McKenzie has hired a private equity partner in Hong Kong from Kirkland & Ellis.

Derek Poon was most recently a Hong Kong-based corporate partner with Kirkland where he advises private equity firms, investment banks and companies on mergers and acquisitions, joint ventures and private equity transactions. Earlier this year, he—alongside Kirkland partner Nicholas Norris—represented New York-based advertising company Clear Channel Outdoor Holdings Inc. on a $497 million sale of a controlling stake in its Hong Kong-listed subsidiary to a group of Chinese investors.

Poon joined Kirkland in 2011 and became a partner in 2016. Before moving to the U.S. firm he practiced in Hong Kong with legacy Mallesons Stephen Jaques for three years; he was briefly seconded to J.P. Morgan in London in 2010.

David Allen, who leads Baker McKenzie's global private equity practice from London, said Poon's practice will help strengthen the firm's financial sponsor service offerings and meet clients' growing needs to seek investment opportunities across Asia Pacific.

"The COVID-19 pandemic has crippled many companies' operations resulting in a heightened demand for liquidity," said Allen, in a statement. "With the record levels of dry powder globally that are waiting to be deployed, we can expect to see a resurgence of investment activities, particularly involving private equity sponsors, real estate and credit funds, with the epicentre of that activity likely to be across Greater China, Southeast Asia, Japan and South Korea."

Poon is also the third senior lawyer to join Baker McKenzie's Hong Kong office in the past two weeks. In May, the office hired finance partner Kenneth Ching, who specializes in buyouts and take-private deals, and entertainment and media lawyer Lex Kuo.

Last year, Baker McKenzie also hired two former Kirkland partners focusing on private equity transactions: leveraged finance partner Andrew Sagor in New York and funds and private equity partner Justin Hutchinson in London.

Related Stories:

Baker McKenzie Nabs Shearman Finance Counsel in Hong Kong

Kirkland Leveraged Finance Partner Moves to Baker McKenzie

Kirkland Loses Second London Private Equity Partner in a Week