Hong Kong body to make LP legislation recommendations
Tuesday, November 03, 2015
(PEI by Lucia Dore) – Some members of the local legal community are also expecting a public consultation on changes to limited partnership legislation that would allow private equity funds to be established on-shore.
Hong Kong-based Financial Services Development Council (FSDC) is expected to publish within the next few weeks a lengthy paper with recommendations on changes to limited partnership legislation.
The FSDC is a research and advocacy organisation that seeks to promote Hong Kong as a financial centre.
Industry advocates are seeking the introduction of new legislation or amendments to the existing limited partnership law to allow private equity funds to be domiciled and registered in Hong Kong.
“New legislation that would allow funds to be brought onshore would allow Hong Kong to build a fully integrated fund management centre,” said John Levack, chairman of the Hong Kong Venture Capital and Private Equity Association (HKVCA) technical committee and managing director of Electra Partners Asia.
