A guide to European Long-Term Investment Funds
On 10 January 2024, the regulatory framework for European long term investment funds (“ELTIFs”) was significantly overhauled.
Regulation (EU) 2015/760 (also referred to as ELTIF 1.0) was amended by Regulation (EU) 2023/606 (also referred to as ELTIF 2.0, and together with ELTIF 1.0, the “ELTIF Regulations”). Regulation (EU) 2024/2759 containing the regulatory technical standards (“RTS”) entered into force on 26 October 2024. This regulatory overhaul of the ELTIF regime seeks to make ELTIFs a more attractive product for private fund managers seeking to access ‘retail’ (including high net worth and private wealth) capital.
ELTIFs are regulated EU alternative investment funds (“EU AIFs”), managed by EU alternative investment fund managers (“EU AIFMs”), that are designed to invest in “real economy” asset classes, such as venture capital, energy, credit, private equity, infrastructure, and real estate.
Importantly, unlike the AIFMD marketing passport which is limited to professional investors (i.e., a MiFID “professional client”) only, ELTIFs can be distributed on a cross-border, pan-EU basis to both professional and retail investors.
Download a copy of our guide to European Long-Term Investment Funds below.
Download PDFThis document has been prepared by McCann FitzGerald LLP for general guidance only and should not be regarded as a substitute for professional advice. Such advice should always be taken before acting on any of the matters discussed.
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