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Key features of the Hong Kong Limited Partnership Fund Ordinance

The new Hong Kong Limited Partnership Fund Ordinance (Cap 637) (LPFO) which has been in effect since 31 August 2020, replaces the old Limited Partnerships Ordinance (Cap 37) (LPO) that was enacted back in 1912.

This is a significant milestone for the Private Funds industry in Hong Kong and ushers in a competitive fund structure that is faster, cheaper and more efficient to operate and maintain than those from other jurisdictions.

In a recent article for CSj, the journal of the Hong Kong Institute of Chartered Secretaries (HKICS), Xavier Garralda, Vistra’s Associate from the Corporate Sector, together with Effie Vasilopoulos, Partner, and David Kalani Lee, Counsel, Sidley Austin highlighted the key features of the new Hong Kong Limited Partnership Fund Ordinance. This modern and effective legal regime can facilitate the establishment of funds onshore in Hong Kong in the form of limited partnerships, which is expected to boost Hong Kong’s standing as an asset management and private equity investment centre in Asia.

Read the full article here

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