The 'professional, timely and efficient' team at Fangda Partners has a sterling market reputation for structuring, negotiating and documenting RMB-denominated private equity funds. The practice advises a range of private investment firms, ranging from first-time funds, independent boutiques and institutionally-sponsored private equity businesses, to multi-strategy alternative asset firms and financial institutions that invest in Greater China. Dividing his time between Beijing and Hong Kong, investment funds head Richard Guo advises clients on the structuring, restructuring, formation and operation of alternative investment products, including private equity and co-investment funds, as well as funds of funds, corporate venture funds and separately managed accounts. Providing key support, Zhen Chen specialises in investment funds, private equity and investment management; and Candy Tang is a private equity fund formation, compliance, and asset management expert. In Hong Kong, Flora Qian focuses on both fund formation and downstream investments, while Yue Zhang advises on USD-denominated fund formations.

Comprising approximately 50 dedicated fund specialists across Beijing, Shanghai and Shenzhen, Han Kun Law Offices is frequently mandated (as primary fund counsel) on large numbers of RMB and offshore USD fund formations. The team also advises major domestic and international institutional investors on regulatory, compliance and tax matters; and is increasingly active in relation to secondary transactions and cross-border funds. Practice head Lu Ran advises on the formation, management and operation of funds; fund formation and asset management specialist Lin Zhou ‘solves problems in a timely, efficient and professional manner‘; and Vincent Song acts for venture capital and private equity funds, as well as entrepreneurs, on their investment and financing projects. Other key practitioners are Pei Zhao, who advises fund sponsors in China (and throughout Asia) on fund formations; Li Yang who is an adviser to fund sponsors, fund managers and institutional investors on fundraising and private investment fund-related investments.

With enviable longstanding experience in the funds sector, King & Wood Mallesons' sizeable team acts on a diverse range of funds. Its expertise covers the business, legal, tax and regulatory aspects of funds; and the practice is active in relation to both RMB and offshore funds, along with cross-border deals. The group's coverage extends to fund formation and structuring; negotiations on terms with investors; drafting joint venture and partnership agreements; the appointment of fund administration representatives; and fund custodian agreements. Beijing office managing partner and finance and securities group head, Mulong Gong, specialises in onshore and offshore IPOs, private equity fund formation, downstream investments, and M&A; and fellow-practice co-head Ma Tianning is a securities, M&A and foreign direct investment expert. Also key to the practice, Alan Du, Joanne Wang, Minxiu Wan and Jia Diyan all maintain active investment fund practices.

Widely respected for its advice on China-related investment funds, Zhong Lun Law Firm acts for several high-profile private equity and venture capital entities, along with emerging growth companies, on major capital raising deals. The full-service practice additionally covers all aspects of a fund’s operations, including fund raising and formation, investment activities, operations, compliance, and portfolio management. The team's leading figures are fund formation expert Catherine Chen; Ping Zhang, who advises on the formation, operation and investment projects of domestic and offshore private investment funds (as well as their management entities); and Joey Zhou, whose practice covers managers' registration, fund formation, investments, management, and liquidation. Other active advisers are Zhenyu Zhang in Hangzhou; and Ursula Li, who assists with fund formation work. Within the associate ranks, Yanlun Meng advises on private equity and real estate fund formation, while senior Yan Liu is also experienced in investment fund structuring.

Beijing DaHui Lawyers' impressive client base comprises leading private equity and venture capital investors, as well as hedge funds and other fund-related investors. The practice covers funds' entire life cycle, including the establishment of RMB, USD, parallel, closed-end, feeder, and cross-border funds. It also advises on investment and restructuring stages, as well as dissolutions and fund-related disputes. The team is jointly led by Zheng Zha, who divides his time between Beijing and New York, and whose practice includes advising multinational companies and private equity funds on their investments and joint ventures in China; and Cloud Li, an adviser on fund formations, investments, exits, liquidations, and fund-related dispute resolution. The practice further includes Brendon Wu, who acts for both established and early-stage Chinese internet entrepreneurs on financing transactions; former Morrison Foerster partner Lucy Lu; and venture capital and private equity financing expert Gary Li.

Fielding 'practical lawyers with excellent backgrounds', Global Law Office is highly focused on investment funds, including private equity and venture capital funds, as well as private funds of funds and sovereign wealth funds. The firm also houses sector experts in pharmaceuticals, life sciences and healthcare, along with telecoms, new energy and semiconductors. Co-leading the practice, Yuan Yuan routinely acts for global and domestic fund sponsors on the structuring and establishment of private investment funds; and Amy Dai is a specialist in investment funds, private equity, venture capital and fund formation, along with M&A and outbound investments. Other key advisers include the 'very practical and experienced' Xianlai Liu, a former general counsel at private equity fund New Horizon Capital; firm managing partner Jinrong Liu, who frequently advises on private equity and venture capital-related investments; and Jinghe Wang, whose track record includes the establishment of private equity investment funds.

Jingtian & Gongcheng's 'excellent' investment funds practice acts for domestic and foreign-invested RMB funds, as well as cross-border venture capital, private equity and M&A funds. The team additionally advises funds of funds, government guidance funds, and securities investment funds; and its representative expertise covers structuring, fundraising, marketing, fund manager registration, compliance, and fund liquidations. In recent highlights, the group advised Guotai Junan Innovation Investment Co on the establishment of an RMB8bn frontier technology fund. The practice is headed up by James Yong Wang, a longstanding specialist in investment funds, asset management, and private equity and venture capital-related investments. The team also features Guanchun Dai, whose wide-ranging practice covers cross-border M&A, overseas investments, private equity, venture capital and real estate.

Described as ‘very good at dealing with complex and innovative transaction structures', JunHe LLP has a strong market reputation for private investment fund formations. The team’s experience covers both government investment funds and private investment funds established by head sponsors. It is also highly experienced in relation to China’s regulatory policies. The practice’s key advisers are private equity and venture capital transactions specialist Xiyong Zhao, whose sector expertise includes healthcare, pharmaceuticals and media, along with education, retail, energy, and insurance; Man Wang, whose fund development expertise encompasses formations, investments, operational issues, and fund liquidation; and Qing (Natasha) Xie, who advises foreign financial institutions and institutional investors on investment funds. Also highly regarded, Jie Tang‘s track record covers advice to government-related funds and financial institutions on a range of investment funds; while Jiakun Cui is experienced in fund establishment, management and operational issues, secondary transactions, and fund liquidation.

Llinks Law Offices‘ asset management practice is regularly mandated by domestic fund management companies, private equity and venture capital funds, trust companies, insurance asset management companies, and several foreign fund management institutions. The team is led by securities investment fund specialist Sandra Lu. Among the firm’s other experienced practitioners, Elva Yu is an adviser on the establishment and investment of asset management products; Candice Du‘s experience covers fund raising, fund establishment work, investments, and exits; Daisy Ding acts for securities and insurance companies on mutual and private funds, along with asset management business; and Sue Sun focuses on securities investment funds and other asset management businesses. The associate to note is Bingfeng Zhang, whose practice also covers investment funds, private equity and venture capital.

AllBright Law Offices advises on the gamut of investment funds work, including the establishment of investment fund managers, registrations, filings, and fund raising and structuring. Other notable areas include contract negotiations, foreign investment, fund management, exits, and fund-related disputes. Among the practice's several active practitioners, Chengwei Peng is experienced in private equity matters, investments, financings, and fund structuring; Fuzhi Lin and Congjun Wen both advise on private equity investment funds; and Mingwen Li predominantly acts for clients from the healthcare and pharmaceutical industries.

With 'outstanding capabilities and expertise in fund establishment and management', Haiwen & Partners is active in both USD and RMB-denominated investment funds. The team acts at every stage of a fund's lifecycle, from fund formation and fundraising to downstream acquisitions, operational issues, regulatory and licensing matters, and exit strategies. Lei Wang's practice encompasses private equity fund formation, M&A, cross-border transactions, and securities offerings; Bian Hao and Xiajun Fang are M&A experts; and investment fund and asset management specialist Xue Tang 'has solid experience'.

Merits & Tree Law Offices is experienced in advising on the formation of both open-end and close-end offshore funds. The practice's track record covers funds involving film, television, AI, big data, digital currency, and education. It has also set up funds for the healthcare, retail, new energy, TMT, and high-end manufacturing sectors. The team is headed up by Shanghai-based investment funds and capital markets specialist Feng Zhou, whose experience includes advising private equity management companies on the establishment of investment funds.

Shihui Partners routinely acts for investment funds and institutional investors on fund formation work. The team also provides assistance with day-to-day matters and regulatory compliance, and has particular strength in token fund structuring and block chain industry work. The practice is co-led by Hilda Li, whose track record includes advising investment institutions on setting up domestic and overseas investment funds; and Steven Zhao, a specialist in fund establishment and listing work. Providing key support, Rui Wang is an expert in private equity fund structuring, formation and investments.

Fund formation and asset management are core practices for Silkroad Law Firm. The 11-strong group advises PRC and foreign clients on the formation of onshore funds and asset management products, as well as regulatory matters. It also assists with the formation of offshore funds involving the BVI, Cayman Islands and Hong Kong. The team is led by founding partner and fund formation and asset management specialist, Haifeng Yang, while Xin He and Xiaorui Yang are both recent partner recruits from Zhonglun Law Firm. Onshore fund regulatory expert Kate Feiyang Dou was recently promoted to salary partner.

The scope of Tian Yuan Law Firm‘s funds team covers the establishment of fund companies, business license applications, fund product registrations, fundraising, liquidations, and innovative product designs. The team is co-led by firm managing partner Zhu Xiaohui, who serves as a supervisor for Beijing Equity Investment Fund Association; and Zhou Qian, an expert in funds, investments, financing, and M&A.