Gaven Cheong

Partner

Hong Kong

T +852 2583 8323
gaven.cheong@simmons-simmons.com

General Experience

Gaven has extensive experience in work relating to the establishment and structuring of a diverse range of collective investment schemes including hedge funds, real estate funds, private equity arrangements, hybrid funds and other structured products. He also advises on contentious and non-contentious regulatory matters in relation to investment management activity.  Having formerly worked as a litigator with two other international practices, Gaven is also able to advise investment managers and fund clients across a variety of contentious issues that arise in relation to fund operation, restructuring, and investment.

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Recent Work
  • advising on the establishment of a number of significant hedge fund launches, including:
    • OTS Asia Opportunity Fund Limited (long/short equity);
    • Excel Alta Capital Master Fund (long/short equity);
    • JAALA Absolute Return Fund (absolute return, equity);
    • Pickers Value Fund (absolute return, equity);
    • Fighton Asia Fund Limited (long/short equity);
    • Nan Fung Master Fund (multi-strategy equity);
    • Mandarin Spanish Property Fund (Spanish real estate, Hong Kong unit trust);
    • TAM No.1 Fund (classic cars, open ended fund);
    • Dymon Asia Single Strategy Trade Idea Fund SPC.
  • regulatory advice for a number of clients including:
    • Hutchin Hill Capital;
    • Brown Brothers Harriman & Co;
    • Folger Hill Asset Management LLC;
    • Prism Financial Products LLP; 
    • Dymon Asia Capital;
    • The Wittgensteins/Standard Perpetual Limited.
  • advising on establishment of Myriad Opportunities Fund, a master-feeder, multi-strategy hedge fund with targeted AUM of US$5bn, the largest hedge fund to be established in the Asian market in 2011
  • advising on the establishment of Tybourne Equity Fund, a master-feeder, long-short equity hedge fund which raised AUM in excess of US$1bn, the largest hedge fund to be established in the Asian market in 2012
  • advising on the establishment of ARCM Fund Ltd, a master feeder committed capital fund that focused on distressed credit and assets in the pan-Asian region. Also assisted ARCM in relation to its third and final closing in 2012, with the fund closing with aggregate capital raised of approximately US$950m
  • advising Mekong Capital Partners Ltd in the formation of a US$400m Vietnamese private equity fund, focusing on buyout and growth capital investments in the Mekong Delta region
  • representing several large fund managers in contractual negotiations for final closing of private equity funds with potential limited partners, including Spring Capital Asia Fund LP, Rich Fields China Growth Fund I LP, ARCM Fund Ltd and China Resources Urban Car Park Fund
  • advising China Resources on establishment of a PE Fund focused on making car-park investments in the PRC
  •   providing advice to a large number of hedge fund clients in relation to disclosure of interests under Part XV of the SFO and short sale regulations under the SFO
  • advising a large number of investment managers, including on their licensing requirements across various investment funds platforms – with a focus on Types 1, 4 and 9 licences under the SFO.
Background
Gaven has extensive experience in work relating to the establishment and structuring of a diverse range of collective investment schemes including hedge funds, real estate funds, private equity arrangements, hybrid funds and other structured products. He also advises on contentious and non-contentious regulatory matters in relation to investment management activity. Having formerly worked as a litigator with two other international practices, Gaven is also able to advise investment managers and fund clients across a variety of contentious issues that arise in relation to fund operation, restructuring, and investment.