Guys, based on the information posted below, I rea
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Posted On: 02/12/2020 7:39:51 PM
Guys, based on the information posted below, I read that the RAIF fund
has to have a minimum value already of 1,250,000 Euros already or the fund would be debunked since it had to have that value within a year of creation. However, it does list multiple things that can be used (borrowed money, bonds issued, investor interests, partial shares sold in the fund) to gain that valuation. So, if the minimum requirements have been met, what actual “activation” is needed? Is that merely stating that we don’t have enough in the fund yet to start the projects we want to invest in? I did not see anything about an extension on this requirement. I could be missing it, but let me know. Thanks!
The RAIF Law provides that the minimum capitalisation of a RAIF is EUR 1,250,000. This minimum amount must be reached within 12 months following the date of creation of the RAIF. Except in the case of an FCP, the reference point for this minimum amount is the subscribed capital plus any issue premium paid or the value of the amount constituting partnership interests, rather than the net assets.
A RAIF which has been set-up as an investment company can issue partly paid shares. Subscriptions in different tranches can thus be achieved through the successive subscriptions of new shares committed through subscription commitments or by means of partly paid shares, the remaining amount of the issue price of the shares initially issued being payable in further instalments. Shares must be paid up to a minimum of 5% per share on issue.
A RAIF may also finance its activities and the acquisition of its portfolio of investments, where appropriate, on a substantially predominant basis, via borrowings as well as via the issue of bonds or other debt instruments.
Read More: https://investorshangout.com/messages/view?id...z6Dn22pP82
has to have a minimum value already of 1,250,000 Euros already or the fund would be debunked since it had to have that value within a year of creation. However, it does list multiple things that can be used (borrowed money, bonds issued, investor interests, partial shares sold in the fund) to gain that valuation. So, if the minimum requirements have been met, what actual “activation” is needed? Is that merely stating that we don’t have enough in the fund yet to start the projects we want to invest in? I did not see anything about an extension on this requirement. I could be missing it, but let me know. Thanks!
The RAIF Law provides that the minimum capitalisation of a RAIF is EUR 1,250,000. This minimum amount must be reached within 12 months following the date of creation of the RAIF. Except in the case of an FCP, the reference point for this minimum amount is the subscribed capital plus any issue premium paid or the value of the amount constituting partnership interests, rather than the net assets.
A RAIF which has been set-up as an investment company can issue partly paid shares. Subscriptions in different tranches can thus be achieved through the successive subscriptions of new shares committed through subscription commitments or by means of partly paid shares, the remaining amount of the issue price of the shares initially issued being payable in further instalments. Shares must be paid up to a minimum of 5% per share on issue.
A RAIF may also finance its activities and the acquisition of its portfolio of investments, where appropriate, on a substantially predominant basis, via borrowings as well as via the issue of bonds or other debt instruments.
Read More: https://investorshangout.com/messages/view?id...z6Dn22pP82
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