Contact details

Penelope Shen

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

Awards

The Legal 500 Asia Pacific 2023 – Investment Funds (Hong Kong)

The Legal 500 Asia Pacific 2023 – Investment Funds (Hong Kong)

The Legal 500 Asia Pacific 2023 –Fintech: foreign firms (China)

The Legal 500 Asia Pacific 2023 –Fintech: foreign firms (China)

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 is "knowledgeable and well-informed".

The Legal 500 Asia Pacific 2022

  • 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

The Legal 500 Asia Pacific 2023 – Investment Funds (Hong Kong)

The Legal 500 Asia Pacific 2023 – Investment Funds (Hong Kong)

The Legal 500 Asia Pacific 2023 –Fintech: foreign firms (China)

The Legal 500 Asia Pacific 2023 –Fintech: foreign firms (China)

Latest news & insights

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.

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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.

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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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29 Mar 2022

From Insights

When family offices meet funds

This article discusses why family offices are gravitating towards pooled investment vehicles in managing their assets. Because, the chemistry is undeniable.

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16 Feb 2022

From Insights

Deadlines looming for SFC ESG and climate-related requirements

The Securities and Futures Commission’s (SFC) enhanced disclosure guidelines for SFC-authorised unit and trusts and mutual funds that identify themselves as ESG funds ..

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25 Nov 2021

From Insights

OFC or LPF - Which structure do you need?

Putting aside alternatives from Cayman Islands or the British Virgin Islands for the time being, which of the two Hong Kong fund structures - the open-ended fund compa..

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16 Nov 2021

From Insights

COP26: Hong Kong's fund industry can play its part

Unless one has been living under a rock these past few weeks, anyone would have known that COP26 (the full name being the 2021 United Nations Climate Change Conference..

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02 Nov 2021

From Insights

Hong Kong enters into a climate friendly era for investment funds

We are seeing the introduction of climate-related disclosure regulation in some jurisdictions but implementation varies and global standardisation discussions are stil..

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20 Jul 2021

From Insights

The SFC adopts a firmer approach to ESG funds

In Hong Kong, the city's Securities and Futures Commission issued on June 29, 2021 a circular to management companies of SFC-authorized unit trusts and mutual funds th..

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13 Jul 2021

From Insights

Almost home

The Government published in the Gazette on 2 July 2021 the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legi..

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13 May 2021

From Insights

The rush for the pot of gold

The Hong Kong Securities and Futures Commission (SFC) released on 10 May 2021 details of a grant scheme for Hong Kong’s open-ended fund companies (OFCs) and real estat..

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