China Law & Practice named Sidley the “Investment Funds Firm of the Year” in the International Firms category at the China Law & Practice Awards 2020. The annual awards honor the best work in China, identifying the biggest and most important commercial legal matters involving lawyers and parties in the nation.
Sidley was recognized this year for its pioneering work as legal counsel for the Hong Kong Government in helping to develop and draft a landmark law that was enacted in August 2020. This law follows work by a multiyear commission whose objective was to establish a new domestic private fund industry in Hong Kong that will directly benefit the private equity, venture capital, real estate, infrastructure, credit and hedge fund segments in the market. The Financial Services Development Council, the Hong Kong Government’s main policy think tank, has estimated that the new law will create as many as 20,000 new jobs in the domestic asset management industry, a key pillar of its core financial services sector.