Funds

Investments funds and regulations need global perspective with local knowledge. From formation, structuring, negotiating to regulatory, we address them all. We believe in the power of legal to solve your most significant challenges and take on the future. Working with us is not just about legal advice. By collaborating closely with PwC’s Tax, Assurance, Risk and Regulatory Compliance, Deals and Crypto Advisory teams, we provide asset and wealth management clients with an integrated, end-to-end business solution to all of their asset management and investment fund needs.

Tiang & Partners’ Funds practice consists of two partners and a team of dedicated investment funds lawyers and legal staff. They collaborate closely with the Asset & Wealth Management and Financial Services teams, as well as the global Legal teams at PwC to provide integrated advice and support on operational, regulatory, and transactional aspects to fund managers, sponsors and investors. Our in-depth industry knowledge and expertise in specialist areas also equips us to advise on the full range of issues relevant to hedge, private equity, crypto and hybrid funds and their managers.

Our range of legal services to asset management and investment funds clients includes the following:

For hedge fund clients

  • Advising on structuring hedge funds, choosing the domicile, listing requirements and drafting fund documentation.
  • Advising across the full range of typical hedge fund strategies including equity long/short, macro, event-driven, quant / statistical analysis, FX and currencies, credit and fixed income and fund of funds.
  • Advising on legal restrictions on marketing internationally (with the assistance of our international network).
  • Advising on the SFC licensing and application process.
  • Advising on regulatory issues for fund managers including disclosures of interests.
  • Advising on structuring and setting up fund management, EAM and family office businesses.
  • Negotiating prime brokerage and trading documentation (including ISDA Master agreements, CFD, repo and other futures and options agreements).
  • Advising on strategic and transactional matters, including fund M&A, illiquid investments and active investment situations and listing rules requirements (for Listcos seeking to invest into hedge funds, or setting up asset management arms).
  • Advising on all aspects of the employment relationship (both contentious and non-contentious) including employment contracts, employee entitlement and protection, employee incentive plans, employee documentation, termination disputes and redundancies.
  • In collaboration with local PRC law firms, advising on PRC issues including marketing restrictions and other applicable PRC regulations.

For PE (and other closed ended fund clients)

  • Advising on the full range of private funds including funds which invest in private equity (including venture/clean tech, expansion capital, buyout and special situations), natural resources (including clean energy), credit, infrastructure, real estate, mezzanine debt, distressed assets, secondaries, agriculture and fund of funds.
  • Fund formation including appointment of advisers/service providers, structuring, advice on terms, marketing, documentation, investor negotiations and ongoing support following closing.
  • Regulatory issues including authorisation, ongoing compliance and marketing restrictions.
  • Fund manager establishment including structuring, tax efficiency and documentation (such as LLP deeds and shareholder agreements).
  • Team incentive schemes (including carried interest and co-investment schemes)
  • LP representation work.
  • Secondaries investing.
  • Downstream transactions including private equity M&A, trade sales, pre-IPO investments, listings, and special situation investments.
  • Financing and loan structuring for private funds that employ leveraged strategies.
  • Employment.
  • Restructuring and insolvency advice.
  • Virtual assets, security tokens and all forms of cryptocurrency.

For cryptocurrency managers

  • Advising on structuring cryptocurrency funds.
  • Drafting documentation for cryptocurrency funds.
  • Reviewing and negotiating operational documents for cryptocurrency funds including custodian agreements, fund administration agreements and other service provider agreements.
  • Regulatory advice and regulatory licence applications including for Type 9 (Virtual Assets) management licences, and Virtual Assets Service Provider (VASP) Exchange licences.

Awards and recognitions

Investment Funds in Hong Kong – Firm to Watch, Recommended Lawyer (Gaven Cheong)

Legal 500 Asia Pacific 2023

Tiang & Partners' profile in the market was considerably raised following the arrival of the ‘very knowledgeable and commercial’ Gaven Cheong in October 2021. Cheong now heads the team and is noted, in particular, for his ‘very strong structuring experience especially when it comes to digital assets’.

Legal 500 Asia Pacific 2023

Investment Funds (International Firms) – Up and Coming Individual (Gaven Cheong)

Chambers Greater China Region 2023

Gaven Cheong is the head of Tiang & Partners' investment funds team. He advises hedge fund managers on the formation of novel funds, including in the cryptocurrency space. He also advises on fund regulatory matters. "Gaven is very technically sound."

Chambers Greater China Region 2023

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Contact us

gaven-cheong

Gaven Cheong
Partner
Tel: +[852] 2833 4993
Email

joyce-tung

Joyce Tung
Partner
Tel: +[852] 2833 4983
Email