The Central Bank of Ireland (CBI) published updates to its rulebook governing alternative investment funds (AIFs) and AIF managers in Ireland that became effective on May 6, 2026. In addition to aligning the Irish regime with key elements of the updated version of the E.U.’s Alternative Investment Fund Managers Directive, the reforms target items that should help bolster Ireland’s status as a fund domicile among fund managers – particularly those focused on PE and private credit. In a guest article, Ogier partner Oisin McClenaghan offers useful context around Ireland’s status as a domicile for the private funds industry; the key role the investment limited partnership vehicle has played in spurring interest in the jurisdiction; and a detailed breakdown of the key changes to the AIF Rulebook by the CBI that will impact PE and private credit managers. See our two-part series “Holistic Evaluation of Innovations Intended to Propel the Irish Private Funds Framework”: Part One (Jul. 12, 2022); and Part Two (Jul. 19, 2022).