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The Private Fund Limited Partnership: A New Fund Vehicle for the UK
6 April 2017
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On 6 April 2017, the UK government’s long-awaited reforms to limited partnership law became effective. The effect is to create a new vehicle for private funds known as a Private Fund Limited Partnership (“PFLP”).
The new PFLP regime is aimed at reducing various financial and administrative burdens for the manager or general partner, as well as providing greater legal certainty for limited partners.
It represents a welcome modernisation of the Limited Partnership Act 1907 and one that should help the United Kingdom remain competitive as a jurisdiction for global fund formation.
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