Ireland increasingly becoming the go-to jurisdiction for funds globally – Fund Management/ REITs

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Significant industry growth combined with a historic shift in behavior means Ireland is increasingly becoming the global “go-to” jurisdiction for funds, says Ocorian, the global diversified financial services group.

This is reflected in a historic shift in buyer behavior as domicile and entity decisions are no longer driven solely by jurisdictional familiarity, but increasingly by what a jurisdiction and its service providers have to offer. . There are, for example, currently over 17,000 people directly employed in the fund industry in Ireland.

Its sector serves over 90 countries, with over €3.9* trillion in net assets held in approximately 8,000 Irish-domiciled funds. The latest figures show that 17 of the top 20 global asset managers offer funds domiciled in Ireland and that 40% of global alternative assets are domiciled or managed in Ireland.

Growth is supported by Ireland’s new Investment Limited Partnership (ILP) regime, its common law jurisdiction, its clear tax transparency regime and its range of well-established service providers which, coupled with the fact that is English-speaking, make it a viable alternative. in Luxembourg.

Ocorian was recently granted three new licenses by the Central Bank of Ireland, making it one of the few Ireland-based non-bank providers able to offer a full range of services to a wider range of customers. It has licenses covering alternative investment fund management services (AIFM), fund administration services and real asset depository services.

Simon Behan, Commercial Director, Ocorian said: “The numbers speak for themselves – Ireland is increasingly the jurisdiction of choice and we see many reasons why this should continue. It combines extensive fund expertise, a wealth of industry knowledge with a substantial experienced workforce and a deep pool of top service providers, making it an easy choice for private equity firms, investment banks and property developers.

“We are seeing this rapid growth alongside a historic shift in buyer behavior – our clients are increasingly focusing on ‘what’ jurisdictions offer rather than ‘where’ they are.” This is partly due to regulatory equalization across markets. and the fact that many jurisdictions offer similar structuring and fund “products”.

“At Ocorian, we consult with our clients to find the most effective and efficient solution to support their strategic objectives, now and in the future. Our diverse offering and global reach means we provide our clients with the best solutions and services in their class.. Our independence allows us to adapt to the needs of our clients and to act quickly to ensure that deadlines are met. our fully scalable and tailor-made solutions adapt to the evolution of the industry and the needs of our customers. Led by technology, empowered by our people and driven by process, we provide our customers with the certainty of delivery today and in the future.”

Ocorian fund services

As a private equity specialist and global leader in the provision of AIFM, fund accounting and administration, and custodial services, Ocorian can provide asset managers with a fast, cost-effective and compliant way to realize their projects. of funds. Ocorian takes on the regulatory and operational burden of establishing and administering our clients’ Alternative Investment Funds (AIFs) throughout their life cycle.

Ocorian’s third-party ManCo/Alternative Investment Fund Management (AIFM) services based in Luxembourg and Dublin offer a fast, cost-effective and compliant way to complete fund projects, including for cross-border distribution. His expertise covers all alternative investment asset classes, including private equity, venture capital, infrastructure, real estate, debt, as well as funds of funds.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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