Recovering Misappropriated Funds (Video)

Asia’s fund finance market continued to mature and diversify in the first half of 2026. New transactions completed by June 2026 represented a total deal value of approximately USD 1.64 billion, with new-money volumes increasing by approximately 20% year-on-year.

Herbert Smith Freehills Kramer’s quarterly review of private capital buyouts, fundraising and disputes tells a familiar story for the first half of 2026: subdued on-market play with flashes of brilliance.

A quiet first half for Asia private capital, with both fundraising and buyout activity subdued, and no indication whether a second-half rebound will materialise as in recent years.

Hong Kong's Securities and Futures Commission has introduced stringent new requirements for publicly offered funds investing in virtual assets, establishing a 10% net asset value threshold, prohibiting fund-level leverage, and mandating cold-wallet storage with onshore key custody. Fund managers must now navigate tightened custodian arrangements and closely monitor their virtual asset holdings to ensure compliance with these evolving regulatory controls.

Hong Kong has reclaimed its position as a global leader in equity capital markets, with IPO proceeds reaching US$37.4 billion in 2025 and total ECM fundraising surging 164% year-on-year. The city's unique advantages stem from its Stock Connect infrastructure linking mainland Chinese exchanges, progressive regulatory reforms for technology and biotech companies, and its role as the only international financial center under common law with deep access to China's economy.

Hong Kong has dominated Asia's international bond market for nearly a decade, arranging over US$130 billion in international bonds in 2024 alone. What structural advantages, policy decisions, and legal frameworks have positioned this city to capture 30% of the regional market and establish itself as the world's premier offshore gateway to Chinese capital markets?

Hong Kong has served as the world's gateway to China for over 150 years, evolving from a trade hub into a sophisticated financial center. With its unique "One Country, Two Systems" status, common law legal framework, and competitive tax regime, the city is experiencing renewed global interest as a safe haven and business hub, particularly as first quarter 2026 GDP expanded 5.9% and residential demand surged amid record-breaking capital market activity.

The Maples Insights: Hong Kong Investment Funds Forum 2026, held on 7 May, convened over 300 leading fund managers...

While many jurisdictions continue to debate the boundaries of virtual asset ("VA") regulation, Hong Kong has taken a different path – establishing comprehensive regulatory perimeters and incrementally expanding...

The High Court examined a case where a Hong Kong securities brokerage company brought conspiracy claims against its own client, alleging an undisclosed discretionary trading arrangement between the client and one of the firm's employees.=