Ogier’s Hong Kong office advises on one of Asia’s first hedge funds structured utilising Cayman LLCs

Ogier has advised on an innovative and high profile Asian fund launch, one of the first hedge funds established under the new Cayman Islands Limited Liability Companies Law.

Ogier acted as Cayman Islands legal advisor to Vanhau Asset Management Limited, a Hong Kong based investment manager founded by Vishweshwar Anantharam and William Hau, on the recent launch of Vanhau Fund and Vanhau Master Fund, both being section 4(3) CIMA regulated mutual funds.

This was a one-legged master-feeder fund structure with the feeder fund and master fund entities both being Cayman Islands limited liability companies.

The launch is a first for Ogier as it represents the first hedge fund the firm has established utilising Cayman Islands limited liability companies (Cayman LLCs) as regulated vehicles.

The Limited Liability Companies Law, 2016 was only enacted in Cayman in June 2016 and so this also represents one of the first hedge funds set up using Cayman LLCs.

The fund launch will be one of the higher profile launches in Asia this year due to the background and pedigree of the founders. Mr Hau and Mr Anantharam previously worked at Goldman Sachs in Hong Kong where they had long and distinguished careers.

Commenting on the launch, Nicholas Plowman said: “We were delighted to work with Jones Day in Hong Kong on what was an innovative and interesting fund structure utilising this new legislation out of Cayman.

“This is one of the first Cayman LLCs to launch as a hedge fund in Asia and it’s great that our funds team is again being recognised at the cutting edge in this market.”

Nicholas Plowman (partner) led the legal team at Ogier, supported by Jonathan Morris (associate). Ogier worked with lead counsel, Jones Day.

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