Domiciles Q&A: AlterDomus’s McEvoy on Ireland

Is Ireland gaining or losing interest as a fund domicile?

There has always been a high level of interest, and there is no doubt that Ireland is gaining in the market as a fund domicile. The Irish government has specifically targeted private equity and sustainable funds in its financial services growth strategy and is currently amending existing partnership law to bring about a best-in-class framework to facilitate this.

What is the attraction compared with other domiciles?

As an English-speaking country and a fully committed member of the EU with a common law base, it is a domicile of choice for accessing the European market. The industry is overseen by a highly respected regulator and supported by a highly educated and experienced professional service network of over 16,000 professionals.

What is the fund structure of choice?

Since its launch in 2015, the Irish Collective Asset Management Vehicle has become the vehicle of choice. However, it is likely that the modernization of the Investment Limited Partnership in the coming months will align particularly well to private equity and related strategies and have great appeal.

Which investors does it appeal to?

The ICAV offers investors the ability to participate in sub-funds which are fully segregated from other sub-funds within the same umbrella ICAV, with investors participating on a unitized (share) basis. The ILP, also anticipated to facilitate umbrella funds, will be based on capital committed and invested, which sophisticated investors in the sector are highly accustomed to.

What is its weakness/downside compared with other domiciles?

The weather certainly is unpredictable – but it does give us fantastic golf courses.