Holistic Evaluation of Innovations Intended to Propel the Irish Private Funds Framework (Part One of Two)

Following several reforms to the Irish private funds framework in recent years, private fund managers are strongly considering Ireland as a potentially attractive domicile for onshore E.U. funds. Simmons & Simmons recently hosted a webinar discussing the appeal of domiciling private funds in Ireland and the approach of its regulator – the Central Bank of Ireland (CBI). The program was moderated by Simmons & Simmons partner James McKnight and featured his partner, David Williams, as well as James O’Sullivan, Head of Funds Authorization at CBI. This first article in a two-part series outlines considerations for fund managers weighing whether to change their funds’ domiciles; developments in Ireland’s private funds infrastructure; and key differences between the Irish investment limited partnership and vehicles in other jurisdictions. The second article will examine the new license for depositories for closed-end funds, as well as how the proposals in the recast Alternative Investment Fund Managers Directive regarding loan origination funds and reforms to the European long-term investment fund may interact with and influence existing regimes in Ireland. For additional insights from Simmons & Simmons attorneys, see our two-part series: “Scope of Global Sanctions From the Ukraine/Russia War and How Designated Person Standards Affect Fund Managers” (May 10, 2022); and “ESG Triggers, Restricted Secondaries Activity and Other Ways the Russia/Ukraine War Is Affecting PE Investments” (May 17, 2022).

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