Reserved for institutional or well-informed investors
The RAIF is an unregulated fund dedicated to institutional and well-informed investors, who wish to invest a minimum of EUR 125.000.
A large range of eligible assets
The RAIF should be able to adopt any fund strategy and to invest in any eligible alternative assets among which:
- private equity
- hedge funds
- real estate
- arts or other collectibles
- Bonds, shares
- Currency, noble metals, …
Alternative Investment Fund Manager (“AIFM”)
The RAIF will be managed by an authorised AIFM (based in Luxembourg or in another EU Member State). The AIFM will then ensure that the RAIF complies with all requirements of the Alternative Investment Fund Manager Directive (“AIFMD”).
As the AIFM regulation and its investor protection are applicable, the RAIF will then benefit from the European passport granted by the AIFM Directive for marketing to professional investors.
The AIMF will then be able to delegate or subcontract its power and responsibility to third parties.
For example the valuation can be delegated to a third party expert, the investment advisory can be subcontracted to a company based abroad (being the promoter, regulated or unregulated), etc,
A legal form based on Special Investment Funds (“SIFs”)
The RAIF is largely modelled on the SIF regime, and it can adapt different legal forms (corporate and contractual).
It can also be considered as an unregulated AIF with multiple compartments, with segregation of assets and liabilities: It is also possible to close compartments.
The RAIF like the SIF are subject to a 30% risk spreading rule which means that maximum 30% of its assets cannot invested in the same instrument/asset.
The SLP is not subject to such a diversification rule