HKMA backs new Hong Kong private equity plans

Hong Kong’s de-facto central bank has thrown its weight behind a government initiative to revamp century-old limited partnership laws, in an effort to make the territory appealing for modern private equity funds “Once the legal framework is out and the tax treatment is clarified, and provide more certainty, then we will probably work even harder to talk to GPs [general partners] and asset owners,” said Darryl Chan, executive director for corporate services at the Hong Kong Monetar…