Fiona Fong

Partner | Financial Services

fiona.fong@deacons.com

+852 2826 5316

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Fiona specialises in the formation of private funds, ranging from offshore hedge funds to QFII or RQFII funds, as well as private equity funds, credit financing funds and various hybrid funds investing in a wide spectrum of industries, including technology, media and telecommunications (TMT), energy and resources (including precious metals, coal mining etc.), medical and pharmaceutical, collectibles, hotels and motion pictures.

Fiona is experienced in advising on fund structures, fund documentations, discretionary account agreements, private placement of funds in Hong Kong, joint venture/co-managers arrangements, and licensing and regulatory issues relating to fund managers.

Fiona also advises and conducts LP reviews for financial institutions or funds of funds in their investments in private equity funds.

She is a member of the Hong Kong regulatory sub-committee of Alternative Investment Management Association (AIMA).

She has provided strategic advices to a global investment bank in relation to establishing and registering the first private umbrella OFC in the Hong Kong market. Registering the “market-first” OFC was no simple task. She took on a significant role in advising on the fund structure, taking into consideration of the nature of the underlying assets and proposed investment objectives, and liaising with the SFC for registration of the OFC. As a result, Fiona was able to achieve successful registration with the SFC in only two weeks leveraging on her solid relationship built with the regulator. Fiona had led her team in developing new precedent documents and provided strategic advice on many novel issues.

As of date, her team acts for a significant share of OFCs that are registered by the SFC.

Highlights

• Advised the Hong Kong arm of a global investment bank on the launch of its first private open-ended fund company (OFC) in Hong Kong. The fund was the first umbrella private OFC registered with the SFC in Hong Kong.
• Assisted an award–winning Hong Kong-based asset manager in the formation of its first emerging market fund investing in the processed food industry in countries within the ‘One Belt, One Road’ area.
• Assisted the Hong Kong asset management arm of a PRC-based fund manager to establish two innovative hybrid funds investing in the pharmaceutical and health sector, specifically in bio-technology companies and medical device producers in Mainland China.

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