Alternative investments meaning

Mergers The Commission cleared: Hartree Partners Holdings, LP’s acquisition of exclusive control of Touton S.A. (M.12189), following a phase I investigation—see further in Midday Express the establishment of a joint venture by EVH Grüne Energie – Beteiligung GmbH & Co. KG and HSBC Alternative Investments S.C.A. SICAV-RAIF (M.12240), following a phase I investigation—see further in Midday Express the setting up of a joint venture by RCL Cruises Ltd....

In this issue: Probate Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Insolvency—Private Client Digital assets and cryptoassets Charity and philanthropy Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis®PSL community New and updated content Dates for your diary Trackers Latest Q&As Useful information Probate HMCTS probate enquiry line—temporary reduced hours From 14 February 2024, and for 12 weeks, the HMCTS probate helpline will run on reduced hours: 9am to 1pm, Monday to Friday. The HMCTS Probate Service remains available via web‑chat from 9am to 5pm, Monday to Friday. Source: HMCTS Probate LinkedIn post. MoJ urges those entitled to claim dormant funds held by CFO to act now The Ministry of Justice...

In this issue Trusts Court of Protection Elderly and vulnerable clients UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Budgets and Finance Bills Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&As Useful information Trusts Insufficient credible evidence led to rejection of trustee expense claims (Hubbard v Hubbard) An account in common form concerning a trust holding development land, with trustees reporting to beneficiaries. The court determined the trustees failed to properly substantiate numerous costs, leading to substantial disallowances. Core principles include: trustees bear the onus to prove expenditure charged to the trust; poor or absent records are no excuse; and the court may grant a...

The sustainable finance market has seen explosive growth in select product segments over the past five years. Annual green bond issuance, for instance, topped US$500bn in 2021, and environmental resilience is becoming an increasingly significant driver of investment choices worldwide. Yet the Organisation for Economic Co-operation and Development (OECD) estimates that US$6.9tn a year will be needed through 2050 to fund infrastructure that achieves development goals and delivers a low-carbon, climate-resilient future. If nothing changes, current market finance will fall far short in both scale and approach. One clear but transformative answer is to pool and amplify sustainable assets via sustainable securitisation. For this to be workable, a critical pipeline of sustainable finance assets across multiple classes must be available in the market. Sustainable securitisation can concurrently offer institutional investors access to sustainable assets while easing pressure on bank balance sheets. At present, most infrastructure schemes depend on bank loans, yet alternative funding sources are essential because the US$90tn needed for global sustainable infrastructure cannot be provided by banks...

This Practice Note sets out a summary of the European Social Entrepreneurship Funds (EuSEF) Regulation (EU) 346/2013 (the EuSEF Regulation), as subsequently amended by Regulation (EU) 2017/1991, Regulation (EU) 2019/1156 and Regulation (EU) 2023/2869. It establishes a dedicated alternative investment fund (AIF) framework, open to alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD). AIFMs that run qualifying social entrepreneurship funds (QSEFs) can opt to apply the 'EuSEF' label to such funds and, using the EuSEF marketing passport, promote them across the EU to professional investors and specified high net-worth investors. Objective of the EuSEF Regulation The EuSEF Regulation seeks to simplify how social enterprises secure financing throughout the EU as a whole. This overarching purpose closely mirrors the EU’s Europe 2020 agenda for delivering 'smart, sustainable and inclusive growth'. Social entrepreneurship is a key strand of that strategy, and the EuSEF regime was introduced specifically to 'support the provision of finance to social business in the EU by facilitating the fund-raising activity...

This Practice Note reviews the European Long‑Term Investment Funds (ELTIF) Regulation (EU) 2015/760, addressing its legislative context, scope, authorisation conditions, eligible investments, disclosure duties and rules on marketing. The ELTIF Regulation is a dedicated alternative investment fund (AIF) framework available to EU alternative investment fund managers (AIFMs) authorised under the Alternative Investment Fund Managers Directive (2011/61/EU) (AIFMD). Legislative background to the ELTIF Regulation In June 2013, the European Commission proposed a new fund vehicle—the ELTIF—intended to ease longer term investment for both managers and investors. The ELTIF Regulation (Regulation (EU) 2015/760) was published in the Official Journal of the European Union on 19 May 2015 and has applied in Member States since 9 December 2015. On 23 March 2018, Commission Delegated Regulation (EU) 2018/480 (the ELTIF Delegated Regulation) appeared in the Official Journal. The ELTIF Delegated Regulation supplements the ELTIF framework by specifying regulatory technical standards (RTS) on the use of financial derivative instruments solely for hedging, the adequate duration of ELTIFs’ life, the assessment criteria for identifying...