Contact details

Penelope Shen

T: +852 3166 6936 Email Penelope | vCard Office: Hong Kong

Awards

Investment Funds

Investment Funds

Fintech: foreign firms & Investment funds: foreign firms

Fintech: foreign firms & Investment funds: foreign firms

Named as Thomson Reuters Stand-out Lawyers in 2023

Named as Thomson Reuters Stand-out Lawyers in 2023

Penelope Shen Partner

Contact details

Penelope Shen

Penelope Shen
Partner

T: +852 3166 6936 Email Penelope | vCard Office: Hong Kong

Penny is one of Hong Kong’s leading funds lawyers who counts among her clients the region’s top asset managers.  She is consistently sought after for both direct expertise and keen market intelligence.
  • Profile
  • Services

Penny focuses on the establishment and structuring of private investment funds, including hedge funds, venture capital, private equity funds, real estate funds, credit funds and QFI funds.

Her years of providing legal leadership advice in the area extends naturally to advising on fund restructuring, distribution and private placement, compliance and regulatory requirements, side letters and derivatives documentation (including ISDA and prime brokerage agreements). Her clients include some of the largest asset managers, family offices and investors in Hong Kong, mainland China, Singapore and Dubai. 

Penny’s substantial experience from working at top-tier law firms, both onshore and offshore, has equipped her with first class knowledge in her chosen field while exposing her to its biggest players.

The asset management market in Asia is constantly evolving based on dynamic economic and political components. But with a nuanced and experienced finger on this pulse, and close working relations with industry service providers including administrators, custodians, trustees and prime brokers, Penny is well placed to provide clients with sterling service.

Penny kickstarted the Firm’s Asia ESG initiative, and was instrumental to the Firm joining the Hong Kong Green Finance Association. As a leading funds practitioner, and corporate/social responsibility advocate, Penny is dedicated to ESG issues affecting fund managers in the region.

"Penelope Shen is very willing to communicate with clients. Both the efficiency and effectiveness in communication process are superb. She is probably the best that I’ve ever worked with in the field."

The Legal 500 Asia Pacific 2023

  • Investment funds

Advised a Hong Kong subsidiary of a Chinese trust company to establish various hedge funds and private equity funds.

Advised an international asset manager to set up a fund to invest in real estate projects through debt financing.

Advised on the establishment of an award winning hedge fund.

Advised a limited partner to negotiate a limited partnership agreement to invest in an offshore private equity fund bidding for a high profile transaction of close to US$3 billion.

Advised a Chinese asset manager specializing in futures trading to establish a classified fund with tiered return arrangement investing in futures, ELNs, options, ETFs and ETNs.

Awards

Investment Funds

Investment Funds

Fintech: foreign firms & Investment funds: foreign firms

Fintech: foreign firms & Investment funds: foreign firms

Named as Thomson Reuters Stand-out Lawyers in 2023

Named as Thomson Reuters Stand-out Lawyers in 2023

Latest news & insights

22 Dec 2023

From Insights

New CIES scheme may spark interest in funds 政府推出新资本投资者入境计划,基金再次备受关注

Hong Kong could see an uptick in investment funds activity after the government announced 19 December 2023 details of a new Capital Investment Entrant Scheme ("CIES").

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13 Dec 2023

From Insights

Tokenisation – not a token development

An increasing number of fund managers are exploring tokenisation of investment funds.

More

12 Dec 2023

From Insights

Preparing for the changes: a guide to the new Securities and Futures (Contracts Limits and Reportable Positions) Rules

After two rounds of public consultations, on 5 June 2023, the Securities and Futures Commission published the Consultation Conclusions

More

03 Oct 2023

From Insights

Hong Kong's OFC grant scheme – not quite last call but close 香港的开放式基金型公司资助计划 – 把握申请机会

Fund managers have a few more months until 9 May 2024 to save costs if they plan to set up or redomicile an open-ended fund company (OFC) in Hong Kong.

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11 Sep 2023

From Insights

Overruling the IPFUND case – no more "private company" exclusion for collective investment schemes?

In the recent decision of Department of Justice v IPFUND Asset Management Limited & Anor [2023] HKCA 925, the Hong Kong Court of Appeal overturned the District Court's..

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11 Jul 2023

From Insights

An ISSB milestone to a clearer path

In our recently-published white paper on ESG, interviewees told us that the quality of ESG disclosures in the market was simply not good enough.

More

07 Jul 2023

From News

Penelope Shen wins WealthBriefing Wealth For Good award

Stephenson Harwood partner Penelope Shen has won the ‘Women in Wealth For Good (APAC)’ award at The WealthBriefing Wealth For Good Awards 2023.

More

03 Jul 2023

From News

New White Paper finds lack of clarity of ESG a main issue for businesses and investors in quest for a more sustainable future in Asia

A new White Paper to identify the needs of businesses and investors in their sustainability goals and how the legal sector can support them has revealed that confusion..

More

05 May 2023

From Insights

Summary of the Consultation Conclusions of the SFC proposal to implement a regulatory regime for depositaries of SFC-authorised CIS

To understand more about the comments made by the SFC in response to the public consultation as well as how this may affect you please read the article.

More

31 Mar 2023

From News

Stephenson Harwood lawyers named in Thomson Reuters Stand-out Lawyers list

12 Stephenson Harwood lawyers have been named Thomson Reuters Stand-out Lawyers in 2023.

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22 Mar 2023

From Insights

ESG as a component of investment DNA

The question of whether ESG should be made a part of fiduciary duty in investments has supporters at both ends.

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21 Mar 2023

From News

Stephenson Harwood named one of ALB's Top 15 ESG Law Firms in Asia

Law firm Stephenson Harwood LLP has been recognised in Asian Legal Business' (ALB) inaugural Asia's Top 15 ESG Law Firms list.

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01 Nov 2022

From Insights

Climate-related risks and decarbonisation survey

Asset managers may recall our alert in October 2022 - Climate-related risks: 20 November 2022 deadline - Have you checked the boxes?.

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14 Oct 2022

From Insights

Climate-related risks: 20 November 2022 deadline - Have you checked the boxes?

By 20 November 2022, qualifying fund managers in Hong Kong will need to comply with the Securities and Futures Commission's Circular on Management and Disclosure of Cl..

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13 May 2022

From Insights

Hong Kong building a Greater China Carbon Market Gateway

Hong Kong is pursuing a ground-breaking plan to develop market structure and regulatory models for global investors to access mainland China's carbon markets.

More

22 Apr 2022

From News

Stephenson Harwood lawyers named in Thomson Reuters Stand-out Lawyers list

Seven Stephenson Harwood lawyers have been named Thomson Reuters Stand-out Lawyers in 2022. Partners Rob Jacob, Tammy Samuel, Nick Sharratt, Penelope Shen, Paul Thwait..

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