Clifford Chance

Clifford Chance advises EJF Capital LLC on its QDLP fund launch

Leading law firm Clifford Chance has advised and acted for US fund manager EJF Capital LLC (EJF) in establishing and launching its Qualified Domestic Limited Partner (QDLP) fund. EJF is an alternative asset management organization with operations in North America (Virginia), Europe (London) and Asia (Shanghai).

QDLP, a Shanghai governmental initiative launched in 2013, allows global fund managers to bring together domestic Chinese investors in a limited partnership or a pooled investment account and invest them in offshore alternative assets. Its development was aimed at providing qualified Chinese investors with access to top global asset managers as well as diversified offshore products. The initiative is also part of China's renminbi (RMB) internationalisation effort.

Deal lead and partner Ying White said, "We were delighted to advise EJF on its first QDLP fund - this is an exciting development. Chinese investors now have more choices for overseas investments. The success of the QDLP initiative provides a new source of capital for international managers, as well."

Ying was supported by a strong local team including associates Albert Fu, Yuxing Huang, Ethan Ying, counsel Helen Fok and lawyer Yusheng Huan.