LPACs have become commonplace in the private equity industry – and are on their way to becoming standard practice, if they are not there already.
 
There used to be a large degree of scepticism surrounding LPACs; especially with regard to their ability to do much to improve governance standards at partnership structures. In the good old days limited partners just had to accept that they had little control over the general partner; and when LPACs first came in not much was expected to change in this regard.

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Brexit is likely to force the Irish to change director residency rules. Central Bank Governor Philip Lane has made clear that fund managers, amongst others moving over from the UK to escape Brexit, will need to have real substance if they want to set up in Ireland. But CP 86 residency rules will make that very difficult to do.

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