New Pathway For ELTIFs Seeking Authorisation In Ireland

Earlier this year, revisions to the European Long-Term Investment Fund ("ELTIF") framework via Regulation 2023/606/EU (the "ELTIF Regulation") came into effect across the European Union. The ELTIF Regulation addresses some of the major obstacles that had undermined the attractiveness of the ELTIF product since it was first introduced in 2015, including significantly broadening the scope of the eligible investment universe, reducing certain investment thresholds, and removing unnecessary barriers to participation from retail investors, whilst retaining appropriate protections and diversification rules for investors. This is intended to better position ELTIFs to play their role as part of the Capital Markets Union ("CMU") and support greater investment in the real economy.