Trends in Irish Fund Launches and the Challenges – and Solutions – for Non-E.U. Fund Managers Using These Vehicles

Fund managers outside the E.U. are increasingly looking to Ireland’s thriving funds market as a way to access potential E.U. investors. Regulatory changes have allowed fund managers to take advantage of innovative approaches and strategies, resulting in record numbers of cross-border fund launches in the jurisdiction. A recent report published by Maples and Calder found, among other things, that there has been a sizable increase in Irish fund launches recently, along with a trend toward the use of tax transparent vehicles. This article analyzes the report, together with insight from partners at law firms at the forefront of fund interactions with Irish and E.U. regulators concerning how non-E.U. fund managers can circumvent obstacles – such as marketing, regulatory and remuneration issues – in order to take advantage of these vehicles. For more on issues pertinent to Irish fund vehicles, see “Walkers Fundamentals Hedge Fund Seminar Addresses Fund Structuring Trends, Governance Best Practices, Fee and Liquidity Terms, Irish Vehicles, Marketing in Asia and FATCA” (Feb. 12, 2015); and “Irish Central Bank Issues Proposed Rules to Enable Private Funds to Originate Loans” (Sep. 11, 2014). For additional insight from Maples and Calder, see “Tax, Legal and Operational Advantages of the Irish Collective Asset-Management Vehicle Structure for Hedge Funds” (Aug. 13, 2015); “Considerations for Hedge Fund Managers Evaluating Forming Reinsurance Vehicles in the Cayman Islands” (Sep. 4, 2014); and “Use by Private Fund Managers of the British Virgin Islands for Private Equity Fund Formation and Private Equity Investments” (Nov. 29, 2012).

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