Opening up to foreign PE fund managers
Beijing has responded to Shanghai’s recent relaxation of rules in Pudong by issuing measures to allow foreign private equity fund managers to set up shop
Issue: February 2010
Keywords (click to search):
Beijing
PE
private equity
fund management
Four local governmental entities under the Beijing Municipality issued the Tentative Measures for the Establishment of Foreign-invested Equity Investment Fund Management Enterprises in Beijing (在京设立外商投资股权投资基金管理企业暂行办法) (Beijing Interim Measures) on January 4 2010. The Measures reflect Beijing’s willingness to push forward the participation of foreign private equity (PE) fund managers in the development of the PE industry in Beijing. They set out the following important provisions:
(1) A foreign investor may set up a foreign-invested PE fund management enterprise (Fund Management FIE) in the legal form of either a Sino-foreign equity joint venture company or in the form of a wholly foreign-owned enterprise.
(2) A Fund Management FIE shall have an equity capital of at least US$2 million.
(3) A Fund Management FIE shall employ at least two senior management personnel, each of whom...
Please login or register below to read this article.