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By Marc MEYERS Dr. Sebastiaan Niels HOOGHIEMSTRA, Loyens Loeff*
A major update to the EU’s Regulation 2015/760 for long-term investment funds (“ELTIF 2.0”) applies as from 10 January 2024. It is henceforth worthwhile analyzing the Final Report on the Draft regulatory technical standards published by the European Securities and Markets Authority (“ESMA”) on 19 December 2023 (“ELTIF 2.0 RTS”). Since ESMA published the ELTIF 2.0 RTS, public debate seems to have overlooked one of its major innovations, namely the “matching mechanism”, which would allow European long-term investment funds (“ELTIFs”) to include in their constitutive documents a fully or partial matching of transfer requests of existing investors to potential investors, subject to the...
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