Kaye Scholer Advised on the Launch of Munsun China Opportunity Fund
February 11, 2010
Kaye Scholer LLP advised the Shenzhen, People’s Republic of China-based investment management firm Munsun Asset Management Limited, and its founder, Mr. Li Xianghong, on the launch of its first China-focused hedge fund, Munsun China Opportunity Investment Fund. The offering of the Fund’s shares was completed today.
The Fund’s investment objective is to invest in a portfolio consisting primarily of securities of companies established or operating in the Greater China Region, and of Chinese companies listed on the Hong Kong, New York, London, and Singapore stock exchanges.
The Kaye Scholer team was led by Partner Timothy Spangler, with assistance by Los Angeles-based Associate Elizabeth Sluder. The team advised Munsun on the structuring and launch of the Fund, established and documented in line with international hedge fund practices.
According to Spangler, “Along with the gradual improvement of the legal infrastructure in the recent years, hedge funds have demonstrated a sustained trend towards the establishment of alternative investments firms in China, the world’s fastest-growing economy. 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 recognize the unique aspects of the Chinese economy and legal/regulatory landscape."
Kaye Scholer is well-positioned to advise alternative investment managers – through its Shanghai office and throughout the firm – on the domestic and cross-border issues that arise in a successful off-shore USD and on-shore RMB fund launch. “The launch of the Munsun fund is a demonstration of how Kaye Scholer can work towards bridging the gap between international expectations and domestic Chinese market practice," said Spangler.
About Kaye Scholer
Kaye Scholer refers to the international law firm Kaye Scholer LLP and its affiliates, with offices in Chicago, Frankfurt, London, Los Angeles, New York, Shanghai, Washington, DC, and West Palm Beach. Founded in New York City in 1917, Kaye Scholer represents public and private companies, governmental entities, financial institutions, and other organizations in matters around the world.
Kaye Scholer's Investment Funds Group serves the needs of a global investment management industry by providing a full range of legal services to a diverse group of international clients. Kaye Scholer focuses on the organization, fundraising, compliance and administration of investment funds, as well as on the structuring, operation, purchase, sale and financing of investment managers and advisers.
The offering described in this press release has been completed and this press release is being issued solely as a matter of record. It does not constitute an offer to sell or the solicitation of an offer to buy, or a recommendation of, any securities.
This press release may constitute attorney advertising. Prior results do not guarantee a similar outcome.
Contact
Peter M. Columbus
Kaye Scholer LLP
Tel: 212.836.8722
pcolumbus@kayescholer.com
