European Long-Term Investment Fund

An upward trend…

The “retailisation” of private funds has been one of the industry’s most significant trends in recent years, with fund managers seeking sources of capital beyond their usual institutional, professional and sophisticated investor base. “Retail” capital (in particular, private wealth) is already a key source of fundraising for many alternative asset managers but

On 22 April 2024, the European Securities and Markets Authority (“ESMA”) provided its response to the European Commission’s request on amendments to the draft regulatory technical standards (“RTS”) in respect of Regulation EU/2023/606 relating to the European long-term investment fund (“ELTIF 2.0”).

In the response, ESMA suggested that there