An investment company in risk capital (société d’investissement en capital à risque - “SICAR”) may qualify as an alternative investment fund (“AIF”). It can be managed by a management company or be self-managed. A SICAR qualifying as an AIF is generally required to appoint an alternative investment fund manager (“AIFM”). A self-managed SICAR may only manage assets of their own portfolios and may not manage assets on behalf of a third party. A SICAR shall have its central administration in Luxembourg.
References: Article 47, 12(1) & (5) of the amended law of 15 June 2004 relating to SICAR; Article 4(1) of the law of 12 July 2013 on AIFM; SICAR and AIFM (i), September 16, 2020, Bertrand Mariaux.
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Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)
Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)