While Simpson Thacher, Sullivan & Cromwell, Fangda Partners and King & Wood Mallesons were all involved in the largest IPO ever, Freshfields was out in the cold. But Freshfields came into the Alibaba picture through its Hong Kong office where the online retail hub hoped to re-list. However, negotiations proved difficult with Hong Kong officials and the decision was taken to list in New York - which it has just done, raising a world record IPO sum of US$25b. That left Freshfields without a role. Source: Business Day Online