The General Regulation of the Autorité des marchés financiers shall determine in particular the conditions under which subscribers are informed of the investment rules specific to this specialised professional fund, the conditions under which it may derogate from Article L. 214-24-55, as well as the minimum frequency and the conditions for determining the net asset value.
I. – Notwithstanding the third paragraph of Article L. 214-24-29 and the first paragraph of Article L. 214-24-34, the fund rules or the articles of association of the specialised professional fund shall stipulate the terms and conditions for the issue, subscription, transfer and redemption of units or shares. The fund rules or the articles of association of the specialised professional fund shall specify the net asset value below which the…
Where a specialised professional fund is a master AIF, the rules governing investment holding, canvassing and marketing of the feeder AIF are those of the master AIF.
I. – Unless otherwise stipulated, professional private equity funds are private equity funds governed by articles L. 214-27 to L. 214-32-1. II. – Professional private equity funds take the form of either mutual funds or open-ended investment companies known as “private equity companies”. Articles L. 214-24-29 to L. 214-24-33, with the exception of the third paragraph of Article L. 214-24-29 and 1° and 9° of Article L. 214-24-31, are applicable…
I. – The subscription and purchase of units in professional private equity funds is reserved for the investors referred to in article L. 214-144 as well as for investors who are managers, employees or natural persons acting on behalf of the fund management company and for the management company itself. The custodian or the person designated for this purpose by the regulations of the professional private equity fund shall ensure…
Non-advertised or non-solicited venture capital mutual funds in existence on 30 June 1999 follow the rules applicable to professional venture capital funds, with the exception of the rules relating to the status of investors and those applicable to transformations, mergers, demergers or liquidations, unless each unit-holder of the fund expressly agrees to place these events under the professional venture capital fund regime.
A professional private equity fund may only be placed under the specialised professional fund regime with the express agreement of each unitholder.
I. – Articles L. 221-3, L. 221-7 and L. 221-12, the second paragraph of Article L. 221-16 and Articles L. 222-4, L. 222-5, L. 222-7 to L. 222-9, L. 222-12, L. 231-1 to L. 231-8, L. 232-21 and L. 233-16 to L. 233-28 of the French Commercial Code do not apply to sociétés de libre partenariat. The other provisions relating to sociétés en commandite simple are applicable to sociétés de…
A société de libre partenariat may, under the conditions laid down in its articles of association, delegate the overall management of its portfolio to a portfolio management company. This task alone does not confer on this company or manager the status of manager of the société de libre partenariat. The portfolio management company has the power to take all decisions relating to the management of the portfolio, including the power…
I. – A limited partner may not take any external management action, except where he is the manager or management company of the company, and in that capacity only. In this case,article L. 222-6 of the Commercial Code does not apply. Acts of management do not include, in particular, the exercise of shareholders’ prerogatives, opinions and advice given to the company, its affiliated entities or their managers or directors, acts…
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75001, Paris France
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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