Asset Management partner, Barry O'Connor, Corporate M&A partner, Brian McCloskey, and Tax partner, Kevin Smith, were delighted to take part in a panel discussion on Ireland's Updated Investment Limited Partnership ("ILP") Regime in association with the IVCA.
Brian began by contextualising the discussion with background on the venture and growth capital space in Ireland highlighting that despite the challenges that have been faced in the last 18 months, venture capital investment has grown and increased in Ireland. He noted that while a key feature of many transactions is that they are Irish law governed, often the fund supporting the transaction is not and queried whether this new ILP regime will help this change. Barry noted that this was true but actually unique to the private, venture and growth capital strategies. In all other fund strategies, Ireland is a leading country globally with 17 of the top 20 global managers establishing funds in Ireland and the Irish fund market housing over three trillion euro in assets. Barry then discussed the benefits of the new regime for fund managers and investors and highlighted the differences from the previous regime and as compared to other jurisdictions. Kevin discussed the tax elements of the ILP structure, which was then followed by a Q&A with Sarah-Jane Larkin of the IVCA.
You can access a recording of the session at the following link, see here.
Matheson, in partnership with the IVCA, have also prepared a fact sheet on the features of the new ILP regime, which is also available on the IVCA website, please click here
Originally published 02/07/2021
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