In March 2014, ZhongyueHuatai Investment Management (Beijing) Co., Ltd. entrusted Kunming-based office of Dacheng to advise the company on the formation of a fund named “Caiyunzhi nan” (“South of the Cloud”).

The task was undertaken by a team headed by Beijing-based senior partner Ping Yunwang and Kunming-based senior partner Li Shiyong. They were responsible for offering legal advice on the formation of the fund and transaction mode, designing fund structure and financing models, participating in important negotiations, drafting all legal documents in relation to the formation, operation, investment and financing of the fund.

The team completed fund structure design on time on behalf of ZhongyueHuatai Investment Management (Beijing) Co., Ltd. and Chongqing Liangjiang New Area Caiyunzhi nan Investment Co., Ltd.. The fund, in the form of limited partnership, intended to raise RMB6,000,000,000to support urbanization in Yunnan. As of the date this news brief was written, the first-phase of fundraising was completed, raising RMB2,500,000,000. This amount was invested accordingly and the second-phase fundraising also commenced.