An investment company in risk capital (société d’investissement en capital à risque - “SICAR”) that qualifies as alternative investment fund (“AIF”) is generally required to appoint an alternative investment fund manager (“AIFM”). 

The AIFM must either be:

• an AIFM established in Luxembourg authorised pursuant to the law of 12 July 2013 on alternative investment fund managers (the “AIFM Law”) ; or, 

• an AIFM established in another EU Member State; or in,

• a third country authorised under Directive 2011/61/EU on Alternative Investment Fund Managers (The “AIFM Directive”).

References: Article 47(1) of the amended law of 15 June 2004 relating to SICAR; the AIFM Directive and Chapter 2 of the AIFM Law; What Is an Alternative Investment Fund?, September 15, Bertrand Mariaux.

*Podcast #270:

*YouTube Video 259|: 

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)