Kartesia Management was awarded AIFM (Alternative Investment Fund Manager) approval on February 11th 2015.
Kartesia’s management company has been granted an alternative investment fund manager (AIFM) licence by the CSSF, the national supervisory body of Luxembourg.
AIFM law results from the implementation of a European directive which regulates fund managers that market alternative investment funds to EU investors. This new set of regulations aims at providing alternative asset class’ investors with more comprehensive and reliable information on the funds’ business, including reporting, leverage and remuneration.
The license authorizes Kartesia to market and manage alternative investment funds across the EU with a simplified regulatory approval process.
Commenting on the announcement, Damien Scaillierez, Managing Partner at Kartesia Advisor, said: “AIFM approval is a major milestone for our European credit platform. We want to offer institutional investors the highest level of assurance that we operate according to best-in class investment, governance and reporting practices”.
“To meet AIFM directive’s requirements, we invested in our Luxembourg platform, appointing a very seasoned team of professionals and selecting an independent company to assess the Fair Market Value of our portfolio on a quarterly basis”