US firm Kaye Scholer and offshore firm Walkers have together advised Munsun Asset Management, a Shenzhen-based investment management firm, and its founder Li Xianghong on the launch of its first China-focused hedge fund, the Munsun China Opportunity Investment Fund.
The Kaye Scholer team, led by partner Timothy Spangler, advised Munsun on the structuring and launch, establishment and documentation of the fund in line with international hedge fund practices.
“The development of a domestic hedge fund industry within China is a clear signal of the continued growth and increasing maturity of the Chinese financial system. International investors will continue to expect market-standard terms and safeguards in their fund documentation, but at the same time, all parties must recognise the unique aspects of the Chinese economy and legal/regulatory landscape,” said Spangler.
Kaye Scholer is a New York-based firm with offices in Chicago, Frankfurt, London, LA, Washington DC and West Palm Beach. The firm also has an office in Shanghai and has been advising on several domestic and cross-border issues that arise in offshore US$ and onshore RMB fund launches.
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