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18 Apr 2017

Focus on RAIF (Reserved Alternative Investment Funds)

This leaflet presents a focus on the Reserved Alternative Investment Fund (RAIF), a new and flexible alternative investment vehicle approved by the Law of 23 July 2016, which entered into force on 31 August 2016 (the RAIF Law).

The RAIF Law creates a new type of unregulated fund which has many of the features of the regulated specialised investment fund (SIF) or the investment company in risk capital (SICAR), but which is not subject to supervision of the Luxembourg supervisory authority, the Commission de Surveillance du Secteur Financier (CSSF).
The attractiveness of this new type of structures lies in its unregulated nature as it gives the possibility to any promoter to benefit from a flexible product in a timely manner by avoiding the process of approval in front of the CSSF whose duration is uncertain and varies depending on the level of complexity of the contemplated structure.