Han Kun Legal Opinions for Several PE Fund Managers Approved by AMAC
2016-05-09
In April 2016, the Investment Funds team at Han Kun issued legal opinions for the registration of private fund managers ("PF Managers") formed in Shanghai, Ningbo and other cities, which were approved by the Asset Management Association of China ("AMAC") after its review. In addition, Han Kun issued special legal opinions for significant changes with respect to registered PF Managers and successfully sought approval by AMAC.
To protect the legal rights and interests of investors and facilitate the healthy growth of the private equity industry, on February 5, 2016, AMAC promulgated the Announcement on Matters concerning Further Regulating the Registration of Privately Fund Managers (the "Announcement"), which requires the submission of a PRC legal opinion, as of the date of issue of the Announcement, for the initial registration of PF Managers, the initial filing of a PF product by a registered PF Manager, certain significant changes with respect to registered PF Managers, as well as other matters determined by AMAC to be necessary.
The Investment Funds team at Han Kun conducted a comprehensive and thorough due diligence investigation on the PF Managers by prudently checking their compliance status in various aspects, provided custom-tailored advice on modification and improvement to the PF Managers and assisted them in the compliance of relevant laws and regulations and requirements of AMAC. Based upon the result of due diligence and the improvements made by the Managers, the Han Kun team produced the legal opinions, which were presented to the Risk Control Committee at Han Kun for review before they were submitted and approved by AMAC. To date, only a small number of law firms have multiple legal opinions approved by AMAC.
The award-winning Investment Funds team at Han Kun is composed of over twenty attorneys in Beijing, Shanghai and Shenzhen offices. With a focus on the private equity industry for over a decade, the team has represented over a hundred PF Managers in setting up over 400 funds of various kinds within and outside of China and has been consistently recognized as market leader in the investment funds area in China by global legal directories such as Chambers and IFLR.