INDOS Financial (Ireland) Depositary Limited (INDOS) will provide depositary services to its Irish Investment Limited Partnership (ILP), Adit Global Growth, ILP.
It is the first ILP product to be supported jointly by INDOS and Ballybunion Capital Limited (acting as AIFM) since both companies joined JTC Group in 2021. Dillon Eustace provided legal services for this ILP.
The investment limited partnership, which will be distributed to a number of European countries and the UK, is expected to raise up to $50million.
The ILP regime in Ireland was updated in 2021 to attract increased private capital into the country with managers obtaining several benefits including tax treaties which Ireland has negotiated with various third countries.
Padhraic McLaughlin, CEO of INDOS Financial (Ireland) Depositary Limited said:
“INDOS recently acquired its specialised depositary licence in Ireland building on our leading offering for alternative investment funds. Depositaries form a crucial ongoing monitoring function for fund structures and we are very pleased to act for this ILP and to be working closely with Ballybunion as AIFM for the first time.”
To find out more about ILP developments, INDOS and the broader solutions by JTC Ireland, please contact Padhraic McLaughlin [email protected] or Jon Masters (Head of Business Development) [email protected]