Ireland’s Flexible Fund Structure
The ICAV fund structure in Ireland has been around since 2015, but alternative asset firms are only just discovering its wide range of benefits. Patterson Chiweshe, an audit principal and member of the financial services group at EisnerAmper, and Harold Adrion, a consultant in international tax to EisnerAmper describe the advantages of the ICAV fund structure in Ireland for alternative asset firms. As well as an attractive tax treatment, it also has a streamlined set-up and administration process, even allowing current variable capital companies (VCC) in Ireland to convert into an ICAV structure.
The ICAV is flexible enough to handle all the needs of alternative asset managers, from capital commitments and drawdowns, to the “excuse and exclude” allocation of assets, although this option remains relatively unknown to global fund managers. Patterson and Harold discuss the details of a structure that is poised to grow more popular in the years to come.
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