The Department of Trade and Industry (DTI) in the UK has changed regulations so that, from March 22, collective private equity investment schemes will be able to operate with more than 20 partners.
SJ Berwin, a firm of solicitors with a 140-strong European private equity team, said the change would allow qualifying funds to operate with more than 20 partners without the need to use complex structuring techniques. A spokesman said: "This represents an important step in a concerted lobbying campaign which began in the 1980s."
