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    Hedge fund investment

    Charltons provides high impact advice to hedge funds on the management, trading and investment structures of hedge fund assets. Our hedge fund clients range from global fund managers to smaller start-up managers.

    We have worked with hedge funds across the full spectrum of asset classes, including listed stocks, fixed income and derivative securities, property, natural resources, private equity, venture capital, and distressed debt. We have also advised on a range of hedge fund strategies including long / short, arbitrage and socially responsible investing.

    Clients receive smart and practical advice from multidisciplinary lawyers with broad regulatory and transactional experience, across M&A, private equity and venture capital, lending and capital markets.

    We provide an insightful and highly personalised service to clients, advising on all investment and financing stages, from start-up funding through “Series A” and subsequent preferred investor rounds, pre-IPO investments and listings. With our extensive experience of M&A and IPO transactions, we can advise whether early investment structures will facilitate subsequent liquidity event such as a trade sale or IPO. We can also assist in pre-IPO planning and structuring (including due diligence and Hong Kong Stock Exchange compliant pre-IPO investments).We also advise on all forms of equity and debt financings by listed companies (including placements, rights issues, open offers and convertible debt securities). We can also guide hedge fund managers through the disclosure of interests regime under the SFO and related SFC and Hong Kong Stock Exchange filings.

    On venture capital and private equity investments, we have significant experience of negotiating the terms of preferred shares (such as preferred dividends and liquidation preference), information and supervisory rights, operational vetoes, board representation, founder restrictions (for example, non-compete undertakings, and restrictions on transferring equity), anti-dilution protection on “down” rounds, and the scope of founder warranties.

    We also advise on loan facilities (including trade financings, bridge loans and revolving credit facilities), debt workouts and restructurings.

     

     

    Marketing of hedge funds

    The marketing of any hedge funds to the general public in Hong Kong must be carried out by a corporation licensed with the Securities and Futures Commission (“SFC”) to carry out type 1 (dealing in securities) regulated activity or any person (i.e. licensed representatives) accredited to such corporation who is licensed to do so.

    A hedge fund manager licensed by the SFC to carry out type 9 (asset management) regulated activity may market hedge funds as long as such marketing activity is carried out wholly incidental to its funds management activities. This would generally mean that the hedge fund manager may only market funds which are under its management; if it wishes to market funds which are not under its management however, it would need to separately obtain a type 1 (dealing in securities) license from the SFC.

    Unauthorised hedge funds are not permitted to be marketed in Hong Kong unless an exemption, as set out in the SFO, applies. Some key exemptions include marketing by way of private placement (i.e. marketing to less than 50 persons) and marketing only to “professional investors”, as the term is defined under Schedule 1 to the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) which includes SFC licensed corporations, banks, insurance companies, high net worth individuals with portfolio of at least HK$8 million, collective investment schemes and their operators, trust companies with total assets of at least HK$40 million etc.

    For unauthorised corporate funds, additional exemptions are contained in the Seventeenth Schedule of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32 of the Laws of Hong Kong), which includes funds where the minimum subscription amount is no less than HK$500,000 per investor.

    香港赛马会特码生肖:Hedge funds

    Hedge fund manager

    Investment structures

    Legal advice for hedge funds

    Marketing of hedge funds in Hong Kong

    Investment structures for Hong Kong

    Hong Kong hedge funds

    Disclosure of interests regime

    Hong Kong hedge fund managers

    Type 1 dealing in securities regulated activity

    Type 9 asset management regulated activity

    Schedule 1 of Securities and Futures Ordinance Cap. 571 of the Laws of Hong Kong
    Seventeenth Schedule of the Companies Winding Up and Miscellaneous Provisions Ordinance Cap. 32 of the Laws of Hong Kong
    Investment Fund Structure
    Private equity investment structure
    Legal advice for hedge funds explained

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  • 苹果高管驳斥iPhone计划报废说 iOS 12就是证据 2019-05-07
  • 热门楼盘趁势而入迎热销 红六月正式上线 ——凤凰网房产天津 2019-04-29
  • 国家税务总局:国地税改革进入具体实施操作阶段 2019-04-28
  • 习近平关于生态环境保护的十个精妙论述 2019-04-28
  • 生态环境部严厉打击转移倾倒固体废物及危险废物 2019-04-27
  • 马克思的每个人全面而自由发展,是人的最高需求层次理论。 2019-04-22
  • 空调还装墙壁上?聪明人都是往这里装,好看又省地 ——凤凰网房产 2019-04-22
  • 这下就真的更加坐实你的老蚕了,所有网友都是见证!想赖都赖不掉了。 2019-04-20
  • 空姐,到底要不要漂亮?-光明时评 2019-04-18
  • 沃尔沃全新S60高性能版官图曝光 2019-04-18
  • [视频]《乡村振兴战略大家谈》第六集4分钟精编版 2019-04-12
  • 赵哲春季写真大公开 百变风格切换自如 2019-04-07
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  • 中国石油呼和浩特石化公司获第十二届人民企业社会责任奖年度环保奖 2019-04-07