The Hong kong LPF (LPFO) established the LPF framework, which takes effect on August 31, 2020. An LPF, like an Exempted Limited Partnership (ELP) in the Cayman Islands, has no legal identity of its own and functions via its general partner (GP). The LPF is meant for private equity and venture capital funds, and it introduces a new fund structure. Ascent fund services have been dealing with all kinds of fund issues and we are in profound connection with such new ordinances being passed so we will be able to help you to get in cognized with these new laws.