Imelda Shine speaks to Real Deals about why Ireland is gaining popularity as a fund domicile

Imelda Shine, Managing Director, UK and Ireland at Intertrust Group, spoke to Real Deals recently about Ireland’s increasing attractiveness as a fund domicile of choice for private equity managers.

Agreements made regarding Brexit and Ireland’s new Investment Limited Partnership (ILP) Act are likely to encourage greater numbers of private equity funds to administer in Ireland. The ILP legislation will likely result in further private investment fund structures being set up and will likely see new business flow into Ireland, making the region a more competitive jurisdiction for private investment funds.

Imelda highlighted that the country is already a leading jurisdiction for both domiciled and non-domiciled funds. “Ireland administers 40 per cent of the world’s alternative investment funds, but this updated ILP legislation could see that number rise significantly,” she said.

The ILP legislation is the last piece of the puzzle for fund administration of alternatives in Ireland and managers of private capital are now looking to enter the domicile alongside their peers in the alternatives space that are already domiciled in the country.

“There is real excitement and optimism across the whole sector here around the updated ILP, and it definitely feels as though it has been a long time coming. We now have a comparative private investment fund structure relative to the other popular jurisdictions,” Imelda commented.

Imelda also shared her views on the benefits of domiciling a private equity fund in Ireland. With the ILP secured, the region’s long-standing position as a fund administrator means that it has an existing infrastructure ready to go. “The infrastructure is a key benefit for funds looking to domicile in Ireland. There are a range of players in the market from the mega players who are long-established here, in addition to a growing group of players in the market that have private equity specialty,” Imelda explained.

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