Jacques Elvinger, Partner at Elvinger Hoss Prussen, explains what is the purpose of the "RAIF".
"RAIF" stands for ‘Reserved Alternative Investment Fund’, a new type of Luxembourg investment fund that is currently on its way through the official channels and expected to be in place in coming mounths. A RAIF is a Luxembourg domiciled alternative investment fund managed by an authorised alternative investment fund manager (AIFM) based either in Luxembourg or in another EU member state, which allows the RAIF to be marketed to professional investors in the European Union. The RAIF itself will not be subject to authorisation and supervision by the Luxembourg supervisory authority CSSF, which shortens time to market. The RAIF will be the vehicle of choice for managers and investors looking for an investment vehicle that combines contractual flexibility with an efficient set-up from a time to market perspective in the context of the regulated AIFMD framework while benefiting from the European Passport for marketing to professional investors.
More information can be found here.