Liyong is a partner in the Hong Kong office of Kirkland & Ellis. Her practice focuses on representing global and Asia regional fund sponsors in relation to the structuring, formation and governance of private equity investment funds, including venture capital, growth, buyout, real estate, infrastructure and secondary funds, and advising clients on carried interest arrangements and co-investment plans. Liyong also represents institutional investors and fund-of-funds clients in connection with private fund and separate account investments.

Since joining Kirkland & Ellis, Liyong has represented, among others, Ascendent Capital Partners, Bull Capital Partners, China Everbright Limited, China Merchants Capital, China Renaissance, CICC, CITIC Capital, Cedarlake Capital, Clearlake Capital, Creador, Employees Provident Fund of Malaysia, EverYi Capital, FWD Insurance, Genesis Capital, GF Investments, GL Capital, Greenwoods Asset Management, HPEF Capital Partners, IDG Capital, Invesco, Kinzon Capital, Legend Capital, LYFE Capital, North Summit Capital, Oceanwide Asset Management, Ping An Real Estate, Pivotal bioVenture Partners, Poseidon Capital Partners, SAIF Partners, Sherpa Healthcare Partners, Skymont Capital, TPG Asia, TPP, Verity Ventures and Vertex Ventures Holdings.


Thought Leadership


Co-author, “New Reporting Rules re Chinese Insurance Companies,” Kirkland Client Alert, May 8, 2018 (with Carol G. Liu, Andrew Wright and Norm Champ)


Ranked “Up and Coming” in Investment Funds: Private Equity (International Firms) - China, Chambers Asia-Pacific (2021–2022)


Admissions & Qualifications

  • 2021, Hong Kong, Solicitor


  • English
  • Mandarin


  • University of Pennsylvania Law SchoolJ.D.
  • University of PennsylvaniaM.A.with Honors
  • Peking UniversityB.A.with Honors