Widespread HK LP takeup expected after tax pledge

Private equity industry participants have welcomed the Hong Kong government’s Budget pledge this week to provide tax concessions for carried interest to bring the city in line with other jurisdictions. And there are expectations that the move will result in a broad takeup – initially by local asset managers – of Hong Kong’s planned limited partnership regime, a new framework for investment funds. “[The tax concession] is the key piece that has been missing that required clarific…