Luxembourg, Monday, 16^th December, 2019 – Carne Luxembourg has been awarded a European Long-Term Investment Funds (ELTIF) licence by the CSSF in Luxembourg. The awarding of the licence expands the range of services and fund management solutions offered by Luxembourg’s largest and leading AIFM and UCITS management company.

The European long-term investment fund (ELTIF) is a pan-European regime for Alternative Investment Funds (AIF) enabling investment managers of private equity, infrastructure and real estate funds to offer well-regulated European products that meet demand from institutional investors (including small and medium sized enterprises) for a long-term fund regime, and high-net work and retail investors seeking exposure to long-term, typically illiquid assets under the protection of a dedicated regime.

Commenting, Group CEO of Carne, John Donohoe, said: “Luxembourg is a leading European centre for long-term funds and an international hub for cross-border fund distribution. Carne has been at its heart for almost a decade and the ELTIF licence further strengthens Carne’s position as the provider of choice for management company services and solutions in Luxembourg.”

An ELTIF facilitates the development of European cross-border long-term funds which make investments in multiple countries and are distributed to investors on a cross-border basis. An ELTIF may invest in long-term assets such as small and medium-sized enterprises and in the development and operation of infrastructure, public buildings, social infrastructure, transport, sustainable energy and communications infrastructure.

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About Carne

Founded in 2004 by John Donohoe, Carne is the largest independent provider of fund management company services in Europe and a leading global provider of governance and substance to asset managers with assets of US$1Tn under management. The organisation has more than 500 clients and employs over 250 people. Carne has offices in 9 countries spread across major fund domiciles and asset management locations including Luxembourg, Ireland, the United Kingdom and the United States.