Exponent establishes Ireland presence following regulatory approval

Min Ho
15 May 2023

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UK-based GP Exponent has set up a new operational base in Ireland following its approval from the Central Bank of Ireland as an alternative investment fund manager (AIFM), according to a statement.

Exponent saw the strategic appeal of the market in part by its new legislation for fund managers, it said.

Exponent said in a statement that it will be one of the first private equity firms to use Ireland's revised Investment Limited Partnership (ILP) structure.

Ireland amended its private funds rules in 2020 in a bid to encourage the likes of private equity and venture capital firms to set up bases there. The new rules include the ability to establish sub-funds within umbrella funds, offering asset managers operational efficiencies and economies of scale.

The GP also highlighted its interest in investing in the Irish market, citing its previous investment in Fintrax Group, Galway-based financial services firm Planet, and Limrick-based high-voltage electrical engineering business H&MV Engineering.

It was previously invested in Ireland-based waste management group Enva, which was sold to I Squared Capital for more than GBP 600m in April, as reported.

Exponent is currently deploying equity via in its fourth buyout fund, PEP IV, which raised GBP 1.5bn in 2017. The firm’s latest deals include the agreement to acquire include IFF’s Flavour Specialty Ingredients division for USD 220m in cash, signed in February 2023.