LBBW launches evergreen ELTIF fund of funds targeting European private markets
What's the deal? LBBW Asset ManagementDealroom has a profile for this one. Try Dealroom → has launched the LBBW Private Markets SelectDealroom has a profile for this one. Try Dealroom →, an evergreen European Long-Term Investment Fund (ELTIF) that invests across private debt, infrastructure, private equity, and venture capital. The fund follows a multi-asset fund of funds strategy with a geographic focus on Europe. LinklatersDealroom has a profile for this one. Try Dealroom → advised on its structuring and launch.
How it works: After a ramp-up phase, the fund aims to hold a diversified portfolio of at least 15 fund investments spanning more than 500 underlying portfolio investments. Its size was not disclosed.
Why now? The ELTIF 2.0 rules, effective January 2024, opened these asset classes to retail investors and aim to mobilise more private capital for long-term investment across Europe. The launch shows how the reformed framework is being put to work.
What could go wrong? Building an evergreen ELTIF is not simple. As Linklaters partner Markus Wollenhaupt noted, it "continues to require the careful coordination of regulatory, tax and operational requirements across multiple jurisdictions."
The signal: A regulated vehicle that once served mainly institutions is increasingly being packaged for a broader investor base. LBBW's launch signals that private markets access — long the preserve of large investors — is edging toward the mainstream in Europe.
Read more: legaldesire.com
Image credit: jl.cernadas
