DLA boosts Beijing team(2)

DLA has recruited Steven Liu from Heller Ehrman to join its Beijing office as a partner. Liu is the sixth legal professional to join DLA Beijing in the last six months.

International law firm DLA Piper Rudnick Gray Cary has recruited Steven Liu from rival Heller Ehrman to boost its Beijing office.

Liu has been practicing law in the US as well as China and began his career at Wilson Sonsini Goodrich & Rosati, where he spent eight and a half years.

At Heller Ehrman, he was a partner and member of the firm’s Asia Business Practice. He specializes in venture, cross-border mergers and acquisitions as well as capital markets.

Prior to his arrival, DLA had added five additional legal professionals – all bilingual – to its Beijing office in the past six months. The expansion has doubled the firm’s capacity to handle additional legal work since last year.

According to a survey of 200 corporate leaders conducted by mergermarket, an independent M&A data provider, over 80 percent of respondents believed China would be the top destination for foreign firms seeking to invest over the next twelve months. India was considered the next most attractive target.

The survey, conducted in association with law firm Simmons & Simmons, canvassed 200 chief executives and chief financial officers in Asia-Pacific in March and April 2007. China was picked by 72 percent of the respondents as the most active private equity market, ahead of India (62 percent) and Japan (43 percent).

Twenty-three percent of the respondents rated the regulatory environment as the most serious obstacle for private equity investments.