Rafael L. Encarnacion


Rafael L. Encarnacion is a member of the firm’s Special Projects and Banking, Finance & Securities practice groups. He regularly advises on securities regulation, corporate finance, mergers and acquisitions, foreign investments, privatizations, and other commercial transactions.

Mr. Encarnacion’s significant projects include:

  • the privatization of PNOC Energy Development Company by way of a primary and secondary offering of listed shares;
  • the acquisition by NTT DoCoMo Japan of shares in Philippine Long Distance Telephone Company;
  • the initial public offering and listing of shares by Banco de Oro;
  • the incorporation of an investment vehicle and negotiation of joint venture agreements and geothermal service contracts for Reykjavik Energy;
  • the incorporation of an investment vehicle and negotiation of joint venture agreements and building leases for ICT Services, Inc. (now Sykes) and WNS Global Services;
  • the acquisition by Ayala Corporation and Providence Equity Partners of shares in eTelecare Global Solutions, Inc.;
  • the sale of shares by Prudential Life U.S.A. to Manulife Canada;
  • the incorporation and registration of an investment vehicle as an export enterprise, and the negotiation of agreements for the construction of an IT Center by Emerson Electric Co. under a long-term land lease with Fort Bonifacio Development Corporation;
  • the proposed investment by a Korean securities company in a Philippine project company appointed by the Department of Transportation and Communications to build, operate and maintain a unified ticketing and clearing system for the existing Metro Manila train lines;
  • the proposed investment by a British group in an airport development project under the Public Private Partnership program of the Government.

While on leave from the firm, he was a foreign intern at Davis Polk & Wardwell (1994-1995) and at Skadden Arps Slate Meagher & Flom (1995-1996).

Admission to the Bar

1990, Philippines
1996, New York, U.S.A


Ateneo de Manila University (A.B.; LL.B., Second Honors)
New York University (LL.M.)

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Related Links:

IFLR: “Philippines: Renewable energy projects”

Balik Friday Club