Key Takeaways — Maples Insights: Hong Kong Investment Funds Forum 2026

The Maples Insights: Hong Kong Investment Funds Forum 2026, held on 7 May, convened over 300 leading fund managers, institutional investors, prime brokers, policymakers and service providers to examine the evolving direction of capital flows and the corresponding implications for manager strategy and structuring across Asia.

Hong Kong is Back on Top

Hong Kong has decisively rebounded, reclaiming the top global IPO position in 2025 and carrying strong momentum into 2026. For managers and issuers, Hong Kong remains one of the world’s most important financial centres and Asia’s premier capital-raising hub.

Hedge Funds: Flows Return, But LPs Set the Terms

Capital is returning, but on more demanding, institutional terms. Investors are prioritising absolute return, multi-strategy and quant approaches, while pushing for SMAs at the outset, fee discipline and stronger governance. Strategy differentiation and alignment economics are now critical.

Private Credit: Asia’s Relative Opportunity

While the US shows late-cycle characteristics, Asian private credit remains at an earlier stage, with stronger relative fundamentals. Yield premiums and lower leverage, particularly in mid-market, founder-led deals, are attracting growing pension allocations.

Private Wealth: Demand Is Not the Constraint

Demand from private wealth for alternatives continues to surge, but execution is the gating factor due to a valuation standoff between buyers and sellers, as well as the need to carefully dovetail portfolio- and investor-level liquidity.
Scalable product design, transparency and client servicing, not just performance, are now key differentiators.

Asia Is Now Core to Global Strategies

Leading managers are building Asia, and considering a renewed China focus, into their platforms from day one, with significant trading activity in-region. Hong Kong remains the primary hub, with Singapore playing a complementary role. Attracting and incentivising talent capable of executing these strategies remains critical.

AI: Competitive Baseline, Not Optional

AI has transitioned from a specialised competitive advantage into fundamental infrastructure across the investment lifecycle, with regulators introducing governance expectations. Capital concentration remains high, but selectivity is increasing as durability comes into focus.

Exits: Broader Toolkit Required

Traditional IPO exits alone will not clear the 2019–2020 backlog. Managers are deploying a wider toolkit, including continuation vehicles, secondaries, NAV financing and hybrid exits.

Flexible and prudent exit planning from the outset, as well as leveraging the involvement of seasoned advisors is increasingly a driver of returns.

China: Selective Re-engagement

Investor sentiment is buoyant, with capital targeting AI, robotics and supply chain opportunities. Structuring remains highly bespoke in certain areas, reflecting geopolitical and investor constraints. Although deals are getting done, early tactical planning remains critical.

Cayman Islands: Certainty as a Competitive Advantage

The Cayman Islands investment hub continues to differentiate itself through stability, legal certainty and responsiveness to innovation, reinforcing its position as the domicile of choice for global funds, public company capital markets opportunities & M&A.

Capital is returning to Asia, but it is more selective, structured and demanding than before.

We would welcome the opportunity to discuss how these shifts could impact your platform, fundraising strategy and structuring approach.