Hong Kong recently enacted the Limited Partnership Fund Ordinance (Cap. 637) (Ordinance) to establish a regime for limited partnership funds (LPFs). The Ordinance is one of the government’s initiatives to promote Hong Kong as a hub for PE investing. Upon the Ordinance’s implementation on August 31, 2020, PE sponsors may consider Hong Kong a viable and attractive alternative fund domicile to traditional offshore jurisdictions. In a guest article, Dechert attorneys Michael P. Wong and Gilbert Cheng provide an overview of the potential advantages for sponsors of adopting a Hong Kong LPF, focusing in part on the appeal it will hold to LPs that are comfortable with the structure and the regulatory oversight it provides. In addition, the article highlights certain issues with which PE sponsors will need to grapple to comply with the LPF regime, ranging from maintaining a presence in Hong Kong to registering with appropriate agencies. See “How Private Fund Managers Can Access Investor Capital in Hong Kong and China” (Feb. 23, 2017).