Clifford Chance has advised Man Group plc on establishing a Qualified Domestic Limited Partner (QDLP) fund in Shanghai, China to invest in Man Group's flagship multi-strategy offshore fund. Chinese investors in the QDLP fund include institutional investors such as the Industrial and Commercial Bank of China (ICBC) and CITIC Trust. This completes Man Group's first phase of the QDLP programme, which allows foreign alternative asset managers to raise funds onshore from qualified Chinese investors through their management units in China for overseas investment.

Partner Ying White led the deal and said, "We were delighted to advise longstanding client Man Group on its first QDLP fund. This is an exciting development and could lead to further growth of the programme in Shanghai and elsewhere in China. It will provide international managers with a new source of capital and the Chinese investors with more choices of overseas investments."

Ying was supported by Shanghai senior associate Yin Ge and Beijing trainee Yuxing Huang.

Man Group and five other hedge funds received approval in 2013 from the Shanghai Municipal Government Financial Services Office to each raise Renminbi denominated funds through a Shanghai government's pilot programme called the QDLP programme.