Investment Limited Partnership

Irish Investment Limited Partnership:

Following recent legislative change in Ireland, the Investment Limited Partnership (“ILP”) structure in Ireland offers international investment managers a flexible fund structure suited most particularly to the bespoke investment space including the private equity and real assets sectors.

A user-friendly overview of the ILP, designed to provide managers and their legal counsel with an introduction to the Irish construct, is available HERE.

To download our ILP publications click on the links below:

  1. Key Features of the Irish Investment Limited Partnership
  2. Limited liability of Limited Partners in Investment Limited Partnerships
  3. Umbrella Structure Investment Limited Partnerships
  4. Marketing of Irish Investment Limited Partnerships
  5. The Use of Side Letters in Investment Limited Partnerships
  6. Fee Structuring in Investment Limited Partnerships
  7. Taxation of Investment Limited Partnerships
  8. Advisory Committees in Investment Limited Partnerships
  9. Regulatory Disclosures Applicable to Investment Limited Partnerships
  10. Defaulting Limited Partners in Investment Limited Partnerships
  11. Liquidity Provisions in Investment Limited Partnerships

The Key Features and Benefits of the Irish Investment Limited Partnership are:

  • Regulated EU AIF
  • Tax transparent for Irish tax purposes
  • Offers standard Private Equity/Real Assets fund features including but not limited to:
    - closed-ended/finite life
    - capital accounting commitments, capital contributions and drawdowns
    - excuse and exclude provisions
    - defaulting investor provisions
    - distribution waterfalls and carried interest
    - advisory committee
  • Clear statutory provisions around LP limited liability
  • With an authorised AIFM, an ILP can be passported to market to professional investors in EU. Otherwise, may be sold in relevant EU Member States under national private placement rules (where available)
  • Requires an AIFM but AIFM can be EU authorised, Irish registered (sub-threshold) or Non-EU, each with differing sales capacities
  • Inward/outward migration capacity
  • Real Assets Depositary option available
  • Can be an umbrella with segregated liability between sub-funds

      On this page if you click on the tab above called "Legal Updates & News" you will find all the latest news and regulatory updates relating to the Irish Investment Limited Partnership (ILP) structures.

      If you have any questions or queries in relation to the Irish ILP please feel free to contact any of the key contacts highlighted on this page or your usual Dillon Eustace contact.