The Ontario Securities Commission (“OSC”) announced the formation of a new OSC LaunchPad Long-Term Asset Fund Project (the “Project”) as part of an update on its proposed framework (the “Proposal”) to facilitate retail...more
We have written about the opportunities for the managers of private funds, such as private equity, real estate, venture, and infrastructure managers, to increase the investor base for the funds they manage (funds) to include...more
On 27 March 2025, the Monetary Authority of Singapore (MAS) issued a consultation paper on a proposed regulatory framework to allow retail investors to access private market investments through authorised long-term investment...more
Commission Delegated Regulation (EU) 2024/2759 supplementing the European Long-Term Investment Funds Regulation with regard to certain regulatory technical standards was published in the Official Journal of the European...more
The Pension Schemes Bill announced in the King’s Speech on 17 July builds on the UK Government’s drive to encourage defined contribution (DC) pension investment in long-term illiquid investments such as private equity,...more
On 10 January 2024, Regulation (EU) 2023/606 amending Regulation (EU) 2015/760 as regards the requirements pertaining to the investment policies and operating conditions of European long-term investment funds and the scope of...more
Welcome to the first edition of our Horizon Scan for 2024: key recent and expected funds, regulatory and tax developments to look out for. As before, we focus on the most important developments and changes that we expect to...more
In our previous alert ELTIF Reform: A Milestone in the Development of an EU Private Fund Structure for Accessing Wholesale Markets, we discussed the EU Commission’s adoption of a revised regulation for the European Long-Term...more
Following its August 2022 consultation on the broader retail distribution of interests in a Long Term Asset Fund (LTAF), the FCA published its Policy Statement PS23/7 including final Handbook rules on 29 June 2023....more
The Institutional Limited Partner Association (ILPA) published new guidance on May 15, 2023, relating to continuation funds. The guidelines build on ILPA's prior (2019) guidance on best practices for GP-led secondary fund...more
On 20 March 2023, the revised European Long-Term Investment Funds Regulation (EU) 2023/606 (the “Regulation”) was published in the Official Journal of the European Union, entering into force on the twentieth day following...more
This memorandum aims to provide a comprehensive overview of the current ELTIF regime (see section 2 below) as well as the most salient features of the new ELTIF regime (see section 3 below), including a table showing the...more
The EU has published its final text for the proposed revision of the European Long-Term Investment Fund ("ELTIF") regime by means of the European Long-Term Investment Funds Regulation....more
In Belgium, as in many other EU countries, the ELTIF has not gained a foothold partly due to the absence of an attractive tax regime....more
In Belgium, as in many other EU countries, the ELTIF has not gained a foothold partly due to the absence of an attractive tax regime. The Belgian legislator has now adopted a law introducing an attractive tax regime for...more
The FCA’s Policy Statement published on 25 October 2021 provides feedback to its May 2021 consultation (the Consultation) and sets out the final rules and guidance for the new authorised open-ended fund regime to invest in...more
This short article outlines the requirements for starting an active business in a qualified opportunity zone (“QOZ”). The US tax legislation that created QOZs was enacted in early 2018, and is intended to encourage...more
The European Commission issued a call for advice to each of the European Supervisory Authorities requesting evidence and possible advice on potential undue short-term pressure by financial service participants on...more
A Commission Delegated Regulation has been published in the Official Journal of the European Union. The Delegated Regulation supplements the Regulation on European Long-Term Investment Funds, setting out Regulatory Technical...more
On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission’s proposed Regulation on European Long-Term Investment Funds (ELTIF Regulation). ...more
The EU Long Term Investment Fund will offer investors a mechanism to invest in projects requiring long-term funding. In June 2013, the European Commission (the Commission) proposed a new type of European closed-end...more