Private equity

Why Hong Kong may struggle to meet its PE ambitions

Hong Kong wants to build its credentials as a private equity centre. But it's untested, and will find it difficult to stand out against more established centres.

Hong Kong’s government has trumpeted its ambition to make the city the leading fund management hub in Asia more than once. To date, it’s been met mostly with indifference.  

It first established an open-ended fund regime in July 2018. Yet fund managers had almost no interest in using the new rules in setting up either a listed or private open-ended fund company in Hong Kong, as an empty list of products registered with the Securities and Future Commission on its website can attest.

But Hong Kong’s authorities are nothing if not resilient. In its latest effort to bolster the territory’s financial industry, the government intends...

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