Tianjin Haihe Industrial Investment Fund Management Co., Ltd. (“HH Fund Manager”), (the fund manager of Tianjin Haihe Industrial Investment Fund Partnership (Limited Partner) (“HH Industrial Fund”)), completed all the relevant procedures for private fund manager registration with the Asset Management Association of China (“AMAC”) on November 21, 2017.
The HH Industrial Fund is a large government-oriented fund established upon approval by the CPC Tianjin Municipal Committee and the Tianjin Municipal Government with a view to implementing a “Jing-Jing-Ji (JJJ) Synergic Development Strategy” and facilitated the construction of a “National Leading Manufacture and R&D Base”. It was established with a capital contribution of RMB 20 billion by the Tianjin Municipal Treasury and will raise RMB 500 billion from non-government investors under a fund-of-funds (FOF) model. HH Fund Manager was jointly founded by 15 shareholders including TJFIS, Tianjin Port, GoAbroad Investment, Hony Capital, CMIG, Haier Financial Holdings, and other large state-owned enterprises and reputable equity investment institutions and listed companies, with registered capital of RMB 200 million.
JunHe, having acted as the legal advisor dedicated to the HH Industrial Fund Startup Team (“HH Fund Startup Team”) since March 2017, fully participated in the establishment of HH Fund Manager and HH Industrial Fund. JunHe provided legal advice with respect to the finalization of HH Industrial Fund’s overall structure and the applicable legal and regulatory requirements on government-invested funds; drafting and revising various legal documents with respect to the establishment of HH Fund Manager and HH Industrial Fund; and issued legal opinions on the application for fund manager registration by HH Fund Manager with AMAC.
JunHe’s lawyers, based on their vast experience in fund establishment and government-invested funds, provided a variety of suggestions and options to the HH Fund Startup Team with respect to the drafting, negotiation and revision of the legal documents. They assisted the HH Fund Manager to complete the relevant procedures for fund manager registration quickly and successfully. This HH Industrial Fund project reflects JunHe lawyers’ professional capability, prudence, efficiency and teamwork.