"The Investment Limited Partnership Act, which governs private equity funds, is now over twenty years old. The proposed amendments provide the opportunity to update the Act to reflect the developments at a European level in investment funds regulation.
The Minister for Finance & Public Expenditure and Reform, Paschal Donohoe TD said: “This is a further step towards ensuring that Ireland remains one of the leading funds domiciles in Europe. The revised Investment Limited Partnership structure will stand alongside the Irish Collective Asset-management Vehicle as a symbol of Ireland’s responsiveness to business needs and a sound regulatory environment.”
The Minister of State at the Department of Finance, Michael D’Arcy TD, said: “The Investment Limited Partnership (Amendment) Bill is an important update of the current Act which is almost 25-years old. This Bill will help create a leading framework for Irish investment funds, adding to the other leading investment vehicles. The Bill is also a key deliverable in the Government's IFS 2025 Strategy and I look forward to its progression through the Houses of the Oireachtas.”