Major Milestone for Ireland's Private Assets Regime - CBI Publishes CP162 AIF Rulebook Consultation

Wednesday, 10 September 2025

CP162 - Consultation on proposed amendments to the Alternative Investment Fund Rulebook (AIF Rulebook)

Irish Funds welcomes the Central Bank’s publication of CP162 - Consultation on proposed amendments to the Alternative Investment Fund Rulebook (AIF Rulebook).

Irish Funds has clearly highlighted the enhancement of the Irish private asset regime as its number one strategic priority, and the proposed amendments mark the most important and positive advancement in Ireland’s private funds landscape since the introduction of the original AIF Rulebook in 2013.

Read full consultation paper.

Key Takeaways

Alignment with revised AIFMD including the removal of the Loan Origination chapter
Change to requirements for Qualifying Investor AIFs investing through intermediary investment vehicles
Better alignment with the more recently added ELTIF chapter
Qualifying Investor AIFs granting loans or acting as a guarantor
Side-Letter Arrangements
Other measures to improve regulatory effectiveness

Read the detailed note on the Irish Funds Member Portal:

These changes will help Ireland:

Capture a larger share of the global private assets market
Attract international capital
Advance key policy goals like Funds Sector 2030 and the EU Savings and Investment Union

Irish Funds has made the enhancement of Ireland’s private asset regime its top strategic priority. This publication follows extensive engagement with the Central Bank and is part of our wider private asset advocacy work which includes the finance bill, and the timely transposition of the AIFMD II legislation.

Read the detailed note on the Irish Funds Member Portal.

CP161 – UCITS Regulations & Performance Fee Guidance

This consultation focuses on modernising Ireland’s UCITS framework and aligning it with recent policy developments including the updated UCITS Directive (EU) 2024/927.

Key Takeaways

Updates to UCITS Regulations and performance fee guidance
Alignment with UCITS Directive (EU) 2024/927
Other changes to reflect legacy updates

Read full consultation paper.

Deadline: 5 November 2025 for both consultations

Irish Funds will respond to both consultations and continue to advocate for complementary legislative and tax changes — including those outlined in our recent Pre-Budget Submission to the Department of Finance — to ensure Ireland remains a global leader in funds and asset management.

View our Pre-Budget Submission

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