The Government published on 17th January its new bill on Private Fund Limited Partnerships. Harper Macleod helped to formulate the bill by giving a detailed response during the consultation exercise and we are pleased to have been named as a respondent in the Treasury paper.
The purpose of the bill will be to amend the Limited Partnerships Act 1907 to introduce a Private Fund Limited Partnership (PFLP) structure. This structure will be available to private investment funds (in other words, funds not authorised to be promoted to retail consumers) which are structured as limited partnerships, for example private equity and venture capital funds. It is designed to reduce the administrative and financial burdens that impact these funds under the current limited partnership structure.
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If you would like to find out more about Limited Partnerships, or any aspect of the new bill, please get in touch