On 10 March 2015, the European Parliament voted to adopt the proposed “Regulation on European Long-Term Investment Funds” (ELTIFS).

The latest version of the Regulation, which is available at page 71 of the Parliament’s “Texts Adopted Report” for 10 March 2015, includes directly applicable rules on the authorisation , investment policies, and operating conditions of EU-AIFs, and the compartments of EU-AIFs, that are marketed in the European Economic Area as ELTIFs.

The objective of the Regulation, which will come into force 20 days after its published in the Official Journal, and become applicable 6 months after that, is to “raise and channel capital towards European long-term investments in the real economy, in line with the Union objective of smart, sustainable and inclusive growth“.

We’ll be preparing a client alert on the meaning and effect of the Regulation in due course. In the meantime, the European Parliament’s Legislative Obersavtory Procedure File is available here.


Posted by Cooley