Penelope Shen


Penny is one of Hong Kong’s leading funds lawyers who counts among her clients the region’s top asset managers. She is consistently sought after for both direct expertise and keen market intelligence.

Penny focuses on the establishment and structuring of private investment funds, including hedge funds, venture capital, private equity funds, real estate funds, credit funds and QFI funds.

Her years of providing legal leadership advice in the area extends naturally to advising on fund restructuring, distribution and private placement, compliance and regulatory requirements, side letters and derivatives documentation (including ISDA and prime brokerage agreements). Her clients include some of the largest asset managers, family offices and investors in Hong Kong, mainland China, Singapore and Dubai. 

Penny’s substantial experience from working at top-tier law firms, both onshore and offshore, has equipped her with first class knowledge in her chosen field while exposing her to its biggest players.

The asset management market in Asia is constantly evolving based on dynamic economic and political components. But with a nuanced and experienced finger on this pulse, and close working relations with industry service providers including administrators, custodians, trustees and prime brokers, Penny is well placed to provide clients with sterling service.

Penny kickstarted the Firm’s Asia ESG initiative, and was instrumental to the Firm joining the Hong Kong Green Finance Association. As a leading funds practitioner, and corporate/social responsibility advocate, Penny is dedicated to ESG issues affecting fund managers in the region.

Penelope Shen is very willing to communicate with clients. Both the efficiency and effectiveness in communication process are superb. She is probably the best that I’ve ever worked with in the field.

The Legal 500 Asia Pacific 2023