Structuring and formation

We design and document the legal architecture for new private funds and platforms, tailored to strategy, investor profile, and regulatory frameworks:

  • Irish fund structures including ICAVs, ILPs, QIAIFs, RIAIFs, unregulated 1907 LPs, Section 110 companies and ELTIFs
  • Cross-border strategies such as ELTIF platforms and feeders
  • UCITS, sub-funds and umbrella structures
  • Complex structuring solutions
  • Core fund documentation
  • Carried interest, co-investment and broader incentive structures

Management, supervision and administration

We support management entities from initial authorisation through to ongoing operation, ensuring structures function effectively within the European regulatory framework:

  • AIFMD authorisation, including MiFID top-ups and Super ManCo models
  • SFDR classification, including Articles 6, 8 and 9
  • European distribution, including marketing passports, NPPR regimes and reverse solicitation
  • Delegation, substance and outsourcing arrangements
  • Governance, including board composition and controlled function roles
  • Engagement with the Central Bank of Ireland, including authorisations, inspections and remediation

Investment and deployment

We shape vehicles and tax frameworks around the underlying asset class:

  • Private credit and direct lending platforms
  • Real estate funds and associated holding structures
  • Private equity strategies, including continuation vehicles
  • Infrastructure and renewables funds
  • Loan portfolio acquisition structures
  • Feeder structures (rated and unrated)
  • Section 110 companies, securitisation vehicles and originator SPVs
  • Alternative asset classes, e.g. life settlements, music or film royalties

Choosing the right structure

Ireland’s regulatory and tax framework supports a wide range of private capital strategies. We match structure to strategy, drawing on the full range of Irish fund and financing vehicles.

Direct lending and originated credit

Structure is shaped by regulation, investor requirements and distribution considerations. QIAIF and L‑QIAIF structures support regulated origination, while Section 110 companies may be used where a debt securities wrapper better reflects investor and treaty access needs.

Real assets and income-generating structures

Structure is shaped by asset holding requirements, tax efficiency and distribution profile. Fund and holding structures support asset ownership, income flows and exit flexibility across jurisdictions.

Private equity

Structure is shaped by fund lifespan, investor liquidity expectations and governance arrangements. Partnership structures are typically used to align with global sponsor models and carry frameworks.

Loan portfolio acquisitions

Structure is shaped by asset composition, financing requirements and tax treatment. Vehicles are configured to support efficient acquisition, holding and servicing of loan portfolios.

Long-term capital and asset-backed platforms

Structure is shaped by asset duration, cashflow profile and financing considerations. Vehicles are designed to accommodate long-term investment horizons and operational asset ownership.

Royalties and intellectual property

Structure is shaped by investor base, treaty access and underlying cashflows. QIAIF structures are often used where treaty access is required, while Section 110 companies may be preferred where a debt securities framework is more suitable.

Our private capital practice combines fund formation, regulation, tax, finance and corporate law expertise to help clients move efficiently from fundraising and investment through to operation and exit.  

Insight into market-shaping experience

We have worked on the development of every major Irish funds regime, including ICAV, ILP, ELTIF and AIFMD II. This provides practical insight into how Irish structures can support different investment strategies and investor requirements.

Helping clients navigate regulation

Our regular engagement with the Central Bank of Ireland brings a clear understanding of regulatory expectations and how to navigate them effectively.

Support for international investment strategies

Our presence across Dublin, Belfast, London, New York and San Francisco provides seamless support across the key markets where our clients operate.

Relevant Experience

We have advised clients in the following areas:

Fund Formation

  • Aspirity Partners on the establishment and launch of its inaugural Irish private equity fund structure comprising two ILPs
  • Blackstone on the establishment of a CLO ETF with exposure to AAA-rated Euro CLOs
  • Arcano Partners on the establishment of a QIAIF ICAV platform including an ELTIF sub-fund

Direct Lending

  • Brookfield Asset Management as lenders on the €220m refinancing of the Marshall Yards property
  • Deutsche Bank on the €415m refinancing of the Glass Bottle site joint venture involving Oaktree and Ronan Group
  • Goldman Sachs, Morgan Stanley and NatWest Markets on portfolio financings involving Irish S.110 and fund structures

Aviation

  • Aviator Capital on the establishment of its Irish aviation platform, on a secured financing facility and on its ongoing Irish aircraft leasing transactions including portfolio acquisitions
  • Arena Aviation Capital on the establishment of its $1.5 billion aircraft leasing joint venture with Kennedy Lewis
  • Dubai Aerospace Enterprise (DAE) on various sale and lease novation and sale and leaseback transactions and related financings

Fund Finance

  • The lenders on the first financing to an Investment Limited Partnership in the Irish market
  • An alternative asset manager on bespoke capital solutions with Investec and ABN Amro for the provision and financing of private credit assets
  • A global investment manager on asset-backed lending facilities with UBS, Morgan Stanley & Citibank using US/European co-borrowing structures

Infrastructure

  • KKR and Palm Capital on the acquisition and financing of logistics assets in Dublin.
  • Partners Group on the €1bn sale of the Greenlink undersea electricity interconnector
  • Starwood Capital on the funding of separate data-centre developments by Echelon Data Centres

NPLs / RPLs

  • Sponsors on the acquisition, financing and securitisation of portfolios of European receivables (including mortgage loans, auto loans and other consumer loans) using Irish securitisation vehicles
  • Sponsors on the acquisition, financing and securitisation of various non-performing and re-performing Irish residential loan portfolios
  • Arrangers on the financing and securitisation of Irish non-performing and re-performing loan portfolios, for sponsors including Balbec, Bracebridge, Cerberus and One William Street

To learn more about our services and how we can support you, please contact any member of our Private Capital Group listed below.

Our Expertise

Private Equity