On 15.3.2023 the European Parliament approved the ELTIF 2.0 Regulation

Is it possible to set up an alternative investment fund in Slovakia that is available for retail with a portfolio such as real estate, trading companies, intellectual property and even aircraft or vessels? On 15 March 2023, the European Parliament approved the ELTIF 2.0 Regulation, which makes so-called European Long-Term Investment Funds (ELTIFs) significantly more attractive. Also as a result of this new legislation, which will apply in the EU from 10.1.2024, a licensed AIFM will be able to set up an ELTIF, which will allow it, among other things: 1) To distribute units or shares of this fund to retail investors with no minimum investment (the ELTIF 2.0 Regulation completely abolishes the current restrictive restrictions on retail investors); 2) To compile a unique portfolio, which will include shares in companies, debt instruments issued by these companies, including the so called ‘ELTIFs’, which will be issued by the same companies. 3) Distribute this retail fund across the EU on an EU passport basis (this is unique among alternative investment funds, apart from EuVECA and EuSEF, which are less accessible to the general retail market). The ELTIF 2.0 regulation has the potential to give a boost to the establishment of these alternative investment funds across the EU, the uptake of which has so far been very poor. At the same time, in the Slovak legal environment, it is an interesting complement to existing public special funds, of which only the public real estate special fund and the public securities special fund have taken hold in practice, and in which the composition of assets is relatively narrowly limited in terms of profile. Peter Varga and I have written a short article on ELTIFs in the context of the adopted ELTIF 2.0 Regulation: https://lnkd.in/ggcfWhRi