LK Shields Solicitors LLP was delighted to support Elkstone in the establishment of Elkstone Opportunities Fund ILP which was authorised by the Central Bank of Ireland as a closed-ended investment limited partnership (ILP) on 21 February, 2022.
Emmet Scully and David Naughton, with associates, Katrina Smyth and Mina Dawood advised Elkstone on the establishment of the QIAIF ILP, authorised under the new legislative and regulatory regime introduced by the Investment Limited Partnerships (Amendment) Act 2020.
As a QIAIF, the ILP benefitted from the Central Bank of Ireland’s 24-hour authorisation process, demonstrating that a regulated partnership structure in Ireland can be established effectively and efficiently. A novel feature of Elkstone Opportunities Fund ILP in the market is that this ILP is deemed to be a designated investment fund for the purposes of investors eligible to invest in an Employment and Investment Incentive Scheme.
Sanne Group companies, Sanne LIS S.A. (AIFM), Sanne Depositary Services Ireland Limited (Depositary) and Sanne Group Administration Services (Ireland) Limited (Administrator) will provide AIFM, depositary and administration services to Elkstone Opportunities Fund ILP.
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