Eltif 2.0

An Irish long-term investment fund has suspended redemptions after investor withdrawals exceeded its limits, marking the first gating event in the European market and exposing the structural tension at the heart of the product.

Across Europe, asset managers are learning that selling Eltif funds to retail and wholesale investors is far harder than early optimism suggested.

Quintet Private Bank on Wednesday announced a new offering that enables its discretionary clients across the Benelux to access private market investments through European long-term investment funds (Eltifs).

ING plans to begin offering one or more Eltif funds for private banking clients in the Netherlands and Belgium before the end of 2025.

Luxembourg may be leading the charge in Eltif launches under the revised framework, but elsewhere in the Benelux they are proving a tougher nut to crack.

The European Long-Term Investment Fund (Eltif) regime is entering a new phase, driven by a surge in local fund launches and rising domestic demand across Europe.

ESMA has asked the European Commission to clarify Eltif 2.0 implementation rules, as inconsistent supervision across member states risks delaying investor access to semi-liquid private market funds.

Institutional investors remain wary of semi-liquid private funds, a sentiment that was on full display at this year’s Luxembourg Meeting for Private Markets Investments, a German-language private markets conference known as Lumpi.

Efama chief Tanguy van de Werve highlights the urgent need for tax harmonisation to overcome fragmentation and create a competitive, unified European market.

Martin Groos unpacks the journey of the European Long-Term Investment Fund (Eltif) since its promising launch in 2015, and explores whether recent reforms under “Eltif 2.0” will finally deliver success.