A new form of limited partnership, a "private fund limited partnership", is available for private funds in the UK. The Legislative Reform (Private Fund Limited Partnerships) Order 2017 was made on 29 March 2017 and came into force on 6 April 2017. Its purpose is to streamline the manner in which the Limited Partnerships Act 1907 applies to private funds, making the UK limited partnership structure a more attractive option for asset managers.
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