The Legislative Reform (Private Fund Limited Partnerships) Order, SI 2017/514, introduces a new type of partnership structure, the private fund limited partnership, from 6 April 2017. The new structure will be available to private investment funds established as limited partnerships, such as private equity and venture capital funds. A limited partnership must be constituted by an agreement in writing and be a collective investment scheme to be designated as a private fund limited partnership. Following consultation, the government announced at Budget 2016 its intention to legislate for this new type of partnership and published the draft order in January.
The Legislative Reform (Private Fund Limited Partnerships) Order, SI 2017/514, introduces a new type of partnership structure, the private fund limited partnership, from 6 April 2017. The new structure will be available to private investment funds established as limited partnerships, such as private equity and venture capital funds. A limited partnership must be constituted by an agreement in writing and be a collective investment scheme to be designated as a private fund limited partnership. Following consultation, the government announced at Budget 2016 its intention to legislate for this new type of partnership and published the draft order in January.
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