Hong Kong’s Rise as a Global Fund Hub: The LPF Revolution
Remarkably, a single piece of legislation has upended decades of Caribbean offshore dominance in Asian private equity. Since Hong Kong’s Limited Partnership Fund Ordinance launched in August 2020, the city has attracted 1,488 active funds by March 2026, a number that signals real and genuine momentum in the region’s financial landscape.
David Cameron, managing partner of DCLO, joins Ajay Shamdasani to break down why the LPF structure is winning over institutional investors, family offices, and alternative managers alike. The conversation covers the favorable tax treatment across four categories, where three carry zero tax liability, including investment profits, carry distributions, and stamp duty on interest transfers.
What does it mean for fund managers when Hong Kong now offers a redomiciliation regime, effective May 2025, allowing full transitions from Cayman or Bermuda without losing legal identity?
Since the LPF framework now extends to digital assets, precious metals, and private credit under 2026 guidelines, the appeal has only widened. Cameron also outlines the Capital Investment Entrance Scheme, a $30 million pathway to permanent residency that ties directly into the LPF opportunity.
Listen to the full episode to understand why Hong Kong’s fund landscape is accelerating fast.
Our Guest
David Cameron
David is a dual-qualified Hong Kong solicitor and New York attorney who has been advising on corporate matters and financial transactions across Asia, based out of Hong Kong, for over 16 years. David has worked for Linklaters and Allen & Overy in addition to, most recently, being a Partner at Dorsey & Whitney.
David has a proven track-record of helping clients with enthusiasm and an entrepreneurial approach. This has resulted in multiple first-ever transactions and initiatives that have led to first-ever national rankings and various international awards. David is consistently ranked globally by institutions such as IFLR1000 and also ranked regionally by institutions such as IBLJ’s Top 100 International A-List. David holds three graduate degrees, a JD, an MBA and an MA, from the University of Pennsylvania and a BA from Georgetown University.
Our Host
Ajay Shamdasani
Ajay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology’s Chicago-Kent College of Law.
His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.
More recently, he spent close to seven years as a senior correspondent with Thomson Reuters’ subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.
For more information about Hong Kong LPFs please contact – david.h.cameron@dc-lo.com
