The ILP is a regulated common law partnership structure which will be of significant interest to Irish and international managers marketing to EU investors and wider global markets once the new enhanced structure is available The new ILP will fall within the AIFMD regime and will be able to fully avail of the marketing passports and associated investor protection features.
The Bill introduces a number of important changes which aim to position the ILP as a leading EU fund vehicle for private equity, sustainable investments and closed-ended alternative funds. It also introduces several important changes to the Irish Collective Asset-management Vehicle (“ICAV”) Act 2015 and extends the beneficial ownership requirements that apply to corporate and unit trust fund structures to ILPs and common contractual funds. In addition to the Bill, the Central Bank of Ireland is expected to introduce new regulatory guidance shortly which will permit ILPs established as closed-ended funds to avail of key structuring features.
LocationsDublin | London | Hong Kong | Cayman Islands
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