The Legal 500 > Asia Pacific > China > Investment funds: PRC firms

Fangda Partners advises a number of well-known conventional private equity and venture capital managers as well as other alternative asset managers. Showing its market-leading position in handling high profile RMB fund formation matters, it assisted Bridgewater, the largest hedge fund manager, with securing private fund manager license and launching an RMB-denominated hedge fund in China. Richard Guo focuses on both RMB and US fund matters, and jointly lead the RMB fund practice with Zhen Chen. The duo assisted Joy Capital with structuring and forming an RMB venture capital fund, and advised Vision Knight Capital on structuring and forming its second RMB-dominated venture capital fund, which focuses on investment opportunities in new financial services and new economy. Candy Tang and Hong Kong-based Flora Qian are also highly recommended.

Han Kun Law Offices has 'a strong team for RMB fund raising, both at partner and associate level'. The 'highly experienced' team advises both multinational industrial groups, offshore established fund managers and state-owned enterprises. It has seen a steady flow of RMB and offshore fund formation mandates, as well as handling foreign asset management firms' Asset Management Association of China (AMAC) registration and related compliance matters. Recent highlights include advising China Broadband Capital on the formation and fund raising of its Cheng Bai II Fund, and advising Matrix in setting up its second RMB Fund. Huaying (Daisy) QI has 'a thorough understanding of dollar fund and RMB fund' and is able to provide 'a solution that is both technical [and] commercial'.  Ping Zhang, Chaoying Li and Yijun Chao are further names to note within the team which lost private investment specialist James Wang to Jingtian & Gongcheng in 2019.

Zhong Lun Law Firm's 'excellent' funds practice spans fund formation, fundraising, investment, project management and fund exit. The team is regularly instructed on the formation on domestic RMB funds and offshore US funds. Kejun Guo and Catherine Chen advised GLP on its RMB10bn fund formation with a consortium of financial institutions and insurance companies including China Post Capital Management. Chen also counts IDG Capital as a key client which she advised on the formation of Yiwu Jinhong Fund, IDG tourism fund, as well as Henan Fund and Yiwu Fund. Hao Han regularly handles multibillion-RMB investment and particularly active in the real estate sector. Shanghai-based corporate group head Yun Zhou is also noted.

JunHe LLP handles a large number of fund formation and investment transactions, in the form of limited partnership, corporation and contractual basis. The team has experience in a broad range of fund structures, including parallel funds, umbrella funds, fund of funds, feeder funds and mezzanine funds, and is particularly noted for its expertise in governmental guide funds. The team is jointly led by Xiyong Zhao and Shelley Wang. Zhao handles private equity investment and securitisation matters, and Wang has represented a number of well-known sponsors in the formation of more than 50 RMB funds.

AllBright Law Offices' recent highlights include advising a number of clients on the registration of private equity fund managers, and assisting Tibet Yunshang Equity Investment Fund Management with the establishment of the RMB160bn Yunnan Transport Industry Investment Fund. Yubin Shi and are Xiaomeng Xie are recommended.

Leveraging its full-service offering and its strong expertise in sectors such as TMT and healthcare, the team at Global Law Office advises on a broad range of fund formation, license application, tax, regulatory and compliance, and ongoing operations and closing transactions. The team's 2019 hire of five lawyers, including Xianlai Liu, Yuan Yuan, Jinghe Wang, Zhihong Jian and Huijie Xu from a major PRC firm, has allowed it to expand its offering in the fund formation and investment space. The team operates from its Beijing, Shanghai and Shenzhen offices in China where Jinrong Liu, Amy Dai and Shifang Guo are highly recommended.

Guantao Law Firm is experienced in private equity funds, hedge funds, real estate funds, venture capital funds, and fund of funds. Its clients features investment firms, sponsors, venture capitals, institutional investors as well as portfolio companies which it advises through the full life cycle of the funds. Yang Wang's recent highlights include a mix of establishment, raising and investment of domestic and foreign private equity funds and management companies, including Governmental Guiding Funds.

Llinks Law Offices' client list includes domestic fund management companies and their subsidiaries, private equity and venture capital funds, securities investment funds, trust companies, insurance and insurance asset management companies as well as foreign fund management institutions. Sandra Lu and Elva Yu are names to note.

Shihui Partners acts for general partners for the fund formation and assists limited partners in their FOF investment. Besides its steady flow of RMB fund formation mandates, recent caseload saw an increasing instruction in advising domestic private equity and venture capital institutions on the formation of their overseas US funds. George Niu, Hilda Li and Steven Zhao highly recommended.