Topic summary
Limited partnerships
Extracted from the Wikipedia article Limited partnership.
Private Fund Limited Partnerships
The Legislative Reform (Private Fund Limited Partnerships) Order 2017 (SI 2017/514) made provision for partners to register their limited partnership as a "Private Fund Limited Partnership" (PFLP), which is available for collective investment schemes constituted by an agreement in writing. The order relaxed the rules applying to private fund partnerships in order to remove some uncertainty in the application of the law, reduce administrative costs, and help ensure "that the UK remains an attractive and competitive location for private investment funds in comparison to other jurisdictions". The relaxation of the law in relation to PFLPs was welcomed by the financial industry.