International firm targets HK hedge fund start-ups

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Simmons & Simmons has launched an online resource for managers of start-up hedge funds in Hong Kong, building on its established resource platforms in the UK and the US for the industry.

Called Simmons & Simmons LaunchPlus, and hosted on the firm’s online services platform elexica, the service offers comprehensive support for managers of emerging hedge funds from establishment to operation.

The launch of the system is an expansion of its UK version for London hedge funds and its UK-to-US version that targets established US-based investment managers looking to expand to the UK. The launch also comes as 2017 is expected to be a challenging year for start-ups.

“2017 will prove to be a challenging environment for start-ups given market volatility, ramping up of military tension in several regions, continued uncertainty over the prospect of the US raising interest rates, as well as the PRC Central Bank’s policy on capital outflow,” said Gaven Cheong, Simmons & Simmons partner. “Fundraising will continue to be tight, so it is as always important to get the basics right and to have information available in an accessible, digestible and cost-effective way that will allow for the right decisions to be made, at the right time.”

The new online resource will help Hong Kong-based managers handle needs in setting up hedge funds from scratch. It provides help from structuring and domicile considerations to helping new managers plan critical milestones, Cheong said.

Simmons & Simmons, which has around 250 partners and 1,300 staff working out of 21 offices across the world, said it has the largest hedge fund team in London. It also has an alliance with New York hedge fund specialist law firm Seward and Kissel.

The London-headquartered firm specialises in asset management and investment funds, financial institutions, life sciences and telecoms, media and technology, and energy and infrastructure.

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