What is a RAIF? - #180-169*
RAIF stands for Reserved Alternative Investment Funds. A RAIF is an undertaking for collective investment borrowed from the specialised investment funds (SIF) regime for some aspects. It is not supervised by the financial regulator (the Commission de Surveillance du Secteur Financier: CSSF). Securities or partnership interests in a RAIF are reserved to well-informed investors (i.e. institutional investor(s) or professional investor(s) investing a minimum of 125,000 euros). The RAIF must qualify as an alternative investment fund (AIF) under the Law of 12 July 2013 on alternative investment fund managers (the AIFM Law). The AIFM Law transposes the AIFM Directive (AIFMD) into Luxembourg law. AIFs thus benefit from the AIFMD regime as well as from the European marketing passport.
Reference: articles 1(1)a., 1(1)c., 2(1)b.(i) & (ii) of the law of 23 July 2016 on reserved alternative investment funds as amended; law of 12 July 2013 on alternative investment funds managers (transposing Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010) as amended; the law of 13 February 2007 on specialised investment funds as amended.
*Podcast #180:
*YouTube Video 169|:
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)
Any content published on MariauxAvocats.com does not constitute legal advice. Its sole purpose is to provide general information at the date of publication. Whenever necessary, it is preferable to seek advice from a licensed lawyer.
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