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ARTICLE · 23 OCTOBER 2017

Revised EuVECA Regulation Approved

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The European Parliament and now also the Council have approved a revision of the EuVECA Regulation. The revised EuVECA Regulation contains some important changes for managers of EuVECA funds.

GermanyFinance and Banking
Sebastian Käpplinger
Sebastian Käpplinger
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The European Parliament and now also the Council have approved a revision of the EuVECA Regulation. The revised EuVECA Regulation contains some important changes for managers of EuVECA funds.

This client information outlines the most important changes and the implications for existing and future EuVECA managers.

Key Facts

  • Own funds of the manager: the regulation now includes a fixed formula for their necessary own funds of the manager which will be substantially lower than what is required under the AIFMD and under BaFin's recent administrative practice. The own funds have to be held in the form of cash or cash equivalents.
    The new own funds requirements do not apply with regard to existing EuVECA funds. To the extent BaFin has requested in the past own funds in excess of the new own funds requirements, we believe that a EuVECA manager should nevertheless be eligible for the application of the new rules.

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