Linklaters advises on the first European Long Term Investment Fund in Luxembourg

Linklaters has advised on the establishment of the first Luxembourg European Long Term Investment Fund. This is the first ever Luxembourg investment fund that was approved by the CSSF and constituted under the new EU Regulation on European Long-Term Investment Funds (“ELTIFs”).

Introduced in December 2015, the ELTIF Regulation is part of the European Capital Markets Union initiative and is designed to facilitate private financing of the real economy, creating a new type of European investment fund that will focus on assets designed to foster social and economic benefit.

Linklaters assisted fund sponsor Partners Group in the structuring and regulatory approval process of the first Luxembourg ELTIF, which will be active in the field of Private Equity. As one of the first ELTIFs set up in Europe, the fund will grant qualifying retail investors access to long-term assets based on the new European framework (alongside professional investors), based on a European marketing passport.

Silke Bernard, Investment Management partner at Linklaters says: “The establishment of the first Luxembourg ELTIF is an important milestone for the Luxembourg financial market.”

The Linklaters team was led by Silke Bernard, Investment Management partner and included Investment Management partner Freddy Brausch, and associate Adrien Timmermans. Silke co-chairs the Association of the Luxembourg Fund Industry’s working group on ELTIFs and was heavily involved in representing the Luxembourg fund industry throughout the European law-making process.

For more information, contact Surinder Sian on +44 207 456 4842