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ProfessionalsJudie Ng Shortell

Judie Ng Shortell
Managing Partner - China Practice

Tel: +852-2846-0318
Fax: +852-3010-5795
jngshortell@paulweiss.com

+852-2846-0318
Hong Kong

Suites 3601-06 & 3610, 36/F
Gloucester Tower, The Landmark
15 Queen’s Road, Central
Hong Kong
Fax: +852-3010-5795

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Based in the firm’s Hong Kong office, Judie is a managing partner of the China practice and a member of the 鶹Ƶ Department. Judie’s practice focuses on regional private equity investments and cross-border mergers and acquisitions. Her twenty-year experience spans a broad range of industries and types of transactions, assisting numerous clients in their high-value leveraged buy-outs, privatization, spin-off, carve-outs, strategic and minority investments and exits.

Judie’s representative clients have included The Carlyle Group, DCP Capital, DiDi Global, General Atlantic, Hony Capital, KKR, L Catterton, Morgan Stanley PE Asia, Temasek, State Grid, Tencent and TPG, among others.

EXPERIENCE

Judie’s significant transactions include advising:

TMT

  • The Carlyle Group in the sale of VXI Global, a leading global business process outsourcing (BPO) service provider, through an auction process, to Bain Capital
  • China Mobile in its US$880 million subscription of shares in True Corporation
  • DCP Capital:
    • in the acquisition of MFS Technology, and the subsequent sale of the company and its subsidiaries through a transaction valued up to US$460 million
    • as lead member of an investor consortium, in their US$5.7 billion take-private acquisition of 51job, Inc.
  • DiDi Global:
    • in the carve-out and subsequent US$1.5 billion fundraising of Didi Freight
    • in the US$1.2 billion spin-off of and fundraising by Qingju, also known as Didi Bike
    • in a 14.8% investment stake in Cango Inc.
    • in its US$1 billion investment in Grab and the subsequent acquisition by Grab of Uber’s Southeast Asian operations
  • General Atlantic as lead member of an investor consortium, in the US$8.7 billion take-private acquisition of 58.com
  • General Atlantic in its investments in various businesses in the sector, including Bytedance, DCar, Ding Dong, NetEase Cloud Music, Shein and Ximalaya
  • An international private equity firm in a potential acquisition of a Korean PCB manufacturer
  • KKR in the buy-out transaction and launch of Cue & Co. and in its investments in various businesses in the sector, including Shenzhen Suishou Technology ԻVoyager Innovations
  • Tencent in its investments in various businesses in the sector, including Pinduoduo, KE Holdings and Zhuan Zhuan

CONSUMER & RETAIL

  • DCP Capital and KKR in their investment in Adopt A Cow
  • KKR in its investments in various businesses including Gambol Pet Group, Xingsheng Preference Electronic and ZJLD Group
  • General Atlantic in its investment in various businesses in the sector, including %Arabica, a coffee shop franchise business that operates in mainland China, Hong Kong, Macau, Singapore, Thailand, Malaysia; Harmay, Judydoll, PatPat and Today Inc.
  • L Catterton Asia in its investment in Nebula Brands

EDUCATION

  • KKR in the proposed buy-out transaction of Tarena International Inc and investment in Huohua Education

ENERGY AND INDUSTRIALS

  • Berlin Packaging in its acquisition of Nest-Filler
  • DCP Capital in its acquisition of Cargill Protein China from Cargill
  • KKR in its US$794 million buy-out of NVC Lighting and formation of a joint venture with NVC International
  • State Grid:
    • in its US$3.04 billion acquisition of Compania General de Electricidad S.A. from Naturgy Energy
    • in its US$2.23 billion acquisition of Chilquinta Energía S.A. from Sempra Energy
    • in its approximately A$5 billion simultaneous acquisitions of 19.9% of the stapled securities in SP Ausnet and 60% interest in SPI (Australia)
    • in its approximately A$500 million acquisition of 45.56% interest in ElectraNet

HEALTHCARE AND LIFE SCIENCES

  • General Atlantic in its investments in various businesses in the sector, including Adagene, Hutchison China MediTech, Ocumension Limited and Wuxi Biologics
  • General Atlantic in its investment in Biotheus, and its subsequent sale to BioNTech
  • GSK plc in its acquisition of an autoimmune disease treatment from Chimagen Biosciences
  • KKR in its investment in Ruichen Pet Hospital Group

FINANCIAL SERVICES

  • Citi in the acquisition by a Citi-led consortium of a US$3.06 billion 85.6% stake in Guangdong Development Bank
  • DCP Capital in its purchase of a 32.98% stake in Datong Insurance Sales & Service Co. Ltd.
  • General Atlantic in its investment in various businesses in the sector, including Pingpong
  • The liquidators of Lehman Brothers in the unwinding of investments in China

REAL ESTATE AND LOGISTICS

  • General Atlantic in its investments in various businesses in the sector, including MyDreamPlus
  • SSW Partners, co-leader of a consortium alongside Starwood Capital Group and Sixth Street, in the consortium’s proposed HK$55.2 billion (US$7.1 billion) privatization of ESR Group Limited, a China-based New Economy real asset manager, from the Hong Kong Stock Exchange (HKSE)
  • Various private equity investors in their investments into and joint ventures with major Chinese real estate developers, including Gemdale, Longfor, Fosun, Evergrande, Moma, etc

Judie has been a widely recognized industry leader and dealmaker, consistently earning high ranks and accolades in various legal publications and directories including Asian Legal Business, Chambers, China Business Law Journal, IFLR1000 and Legal 500, which highlighted her significant private equity and M&A work for her clients in Asia and China. Clients consider her “very measured” and “creative, commercial and savvy in the local Chinese market context,” and appreciate her “extensive transactional experience” in Chambers Asia. She was named one of China Business Law Journal’s “The A-List” lawyers (2020, 2023 – 2024), as well as IFLR1000’s “China IFLR1000 Women Leaders” in 2023. Asian Legal Business Law Awards named her a finalist in “Dealmaker of the Year” (2018 – 2024) and “Woman Lawyer of the Year” (2023 – 2024), which honors her longstanding contribution to the legal landscape in China and Hong Kong.

Judie is fluent in English, Mandarin and Cantonese. She is admitted to practice law in Hong Kong.

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