As previously stated, reserved alternative investment funds (RAIF) must qualify as alternative investment funds (AIF) under the Law of 12 July 2013 on alternative investment fund managers (the AIFM Law). 

Under applicable provisions, every RAIF must be managed by an alternative investment fund manager (AIFM). The AIFM must either be: 

1. established in Luxembourg and authorised under the AIFM Law (Chapter 2); or

2. established in another European Member State - in accordance with Directive 2011/61/EU of 8 June 2011 on Alternative Investment Fund Managers (The AIFM Directive): or

3. established in a third country, authorised under Chapter II of the AIFMD Directive.

References: Law of 23 July 2016 on reserved alternative investment funds as amended (the RAIF Law); Articles 1(1)a and 4(1) of the RAIF Law; AIFM Law as amended and specifically: Articles 2(2)(c) & (d); AIFM Directive; What is a RAIF?, Bertrand Mariaux, June 17, 2020.

*Podcast #249:

*YouTube Video 238|: 

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)