Hedge Funds

Overview

We represent hedge funds and fund managers throughout the entire fund life cycle. Our market leading Hedge Funds practice has been internationally recognized by the International Financial Law Review 1000 (IFLR1000), the Legal 500, Chambers & Partners and Asialaw Profiles. We have been advising hedge funds and their managers on Hong Kong requirements for over 15 years. Our clients have ranged from start-ups to bulge bracket investment managers with over US$60 billion of assets under management.

In our Hedge Funds practice, we advise clients on how to set up a hedge fund, how to operate a hedge fund and other matters:

• Fund formation – Selection of fund vehicle, fund structure and fund jurisdiction and preparation of investment management agreements (“IMAs”)

• Capital raising – Preparation and negotiation of private placement memoranda (“PPMs”), subscription agreements and side letters

• Establishment of management group – Incorporation of manager, licensing applications to the Securities and Futures Commission (“SFC”) and preparation and negotiation of agreements between key principals, shareholder agreements, and share option schemes with key executives

• Ongoing operational and regulatory issues

• Fund restructuring

Our Hedge Fund practice is uniquely positioned to advise hedge funds and their managers:

• Because our firm is heavily focused on financial services, including portfolio management, broking and dealing, financing, electronic trading and clearing, custody and derivatives trading, we bring a deep understanding of the full spectrum of the business activities that impact hedge funds.

• At the same time, because we work routinely to assist clients on regulatory matters in Hong Kong, we understand the expectations of the SFC, the primary regulator of the Hong Kong securities and futures markets.

• Finally, because we routinely represent clients in SFC investigations and prosecutions which test the limits of Hong Kong securities laws, we are fully conversant with the boundaries and complexities of the legal and regulatory framework under the Securities and Futures Ordinance (“SFO”).