The 'Ireland Alternative Investment Fund Services 2016' special report comprises six separate articles listed below, these can be read individually or as a sequence.
Ireland remains Europe's leading onshore hedge fund jurisdiction by some margin, yet up until a couple of years ago it could not offer fund sponsors a corporate fund structure similar to the SICAV in Luxembourg.
According to Ken Somerville (pictured), head of business development at Quintillion Limited, Ireland's fund administrators are starting to see real interest among global fund managers, running both hedge funds and private equity funds, as Europe's credit markets continue to be restructured. This is leading to a wider, more complex range of credit strategies, with loan origination perhaps the most talked about example.
For EU and non-EU managers, the ability to choose between AIFMD or UCITS regimes to bring a regulated fund product to market with minimal fuss is a compelling one. With its unique business model, ML Capital has proven to the marketplace that there are many ways to scale the walls of so-called "Fortress Europe".
Q&A with John Bohan (pictured), Managing Director Europe & Middle East, Apex Fund Services (Ireland).
There has been a flurry of activity over at ML Capital in the last few months. The company provides a range of UCITS and AIFMD fund solutions to fund managers and currently has over USD1.5 billion of assets under management across its Dublin-based MontLake UCITS Platform and MontLake QIAIF Platform. The MontLake UCITS Platform, in particular, has added a number of new funds including: Mygale Event Driven UCITS managed by Neil Tofts; OTS Asia Opportunity UCITS, managed by OTS Capital Management, and SPARX OneAsia Long Short UCITS, managed by SPARX Asia Investment Advisors.
US private equity and real estate groups are paying close attention to the opportunities on offer in Ireland to pick up distressed assets, as the ripples of the '08 financial crisis continue to be felt there. Whether they are buying actual assets, or the debt that is held on those assets, depends on what the individual manager is trying to achieve but as Nicholas Tsafos, Chairman and Director of EisnerAmper Global Ltd, observes: "Whether it is commercial real estate or retail real estate, we are seeing managers invest in a variety of property portfolios, buying landmark properties such as the Shelbourne Hotel, for example.