Beijing's First WOFE PFM Registers
On February 9, Beijing Dao Tai Liang He Private Fund Management Co., Ltd., registered in Beijing Fund Town, completed its registration with the Asset Management Association of China as a wholly foreign-owned enterprises private fund manager (WOFE PFM), becoming the first foreign private security investment fund manager registered in Beijing, and China, this year.
Beijing Dao Tai Liang He Private Fund Management Co., Ltd. was established on July 21, 2021 with a registered capital of USD 15 million. On September 3, 2021, the company was registered in Beijing Fund Town at 2021 CIFTIS, showing the progress of Beijing's multi-level and high-level opening up in the financial field. Beijing Dao Tai Liang He Private Fund Management Co., Ltd's registration as a WOFE PFM at the Asset Management Association of China is a testament to the company's capability of compliance-based operation.
Further Reading
Beijing Dao Tai Liang He Private Fund Management Co., Ltd. is a wholly-owned subsidiary of Dynamic Technology Lab Private Limited in Singapore, a high-tech investment institution managing USD 3 billion (around CNY 19.1 billion) worth of assets and trading over USD 600 million every day worldwide. The introduction and compliance-based operation of this foreign private equity company will play an active and exemplary role in encouraging more global asset management institutions to register in Beijing.
Beijing Fund Town is a national-level fund town piloting the service standardization of fund institutions, and is listed among the first batch of demonstration bases for trade in services in Beijing. Under the principle of opening-up and development, it has combined the "Going Global" of trade in services and the "Bringing in" of fund institutions and attracted branch offices of numerous world-leading private equity institutions, including Lone Star Funds and Bain Capital.
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