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The Limited Partnership Fund: A new fund structure for Hong Kong

  • Hong Kong
  • Other

14-07-2020

On 9 July 2020, the Limited Partnership Fund Ordinance (“LPFO”) was given the legislative greenlight. The LPFO creates a new fund structure in Hong Kong, the limited partnership fund (“LPF”), which combines the legal characteristics of a limited partnership with the contractual freedom to cater for close-ended investment funds. Private equity (“PE”) and venture capital (“VC”) funds will be the main beneficiaries of the new LPF regime which will take effect on 31 August 2020. The LPFO represents a significant milestone for the Hong Kong asset management industry, allowing PE and VC funds to set up and operate in one onshore jurisdiction and promote Hong Kong’s position as the leading asset management centre in Asia.

Eversheds Sutherland will be issuing a series of in-depth analysis on the LPF regime. We look forward to sharing our insights on this exciting development with you.