Definition
Type of fund that primarily invests in companies and projects that need long-term financing.
Further information
ELTIFs provide finance of lasting duration to various infrastructure projects, unlisted companies, or listed small and medium-sized enterprises (SMEs) that issue equity or debt instruments for which there is no readily identifiable buyer. They should invest at least 70 % of their capital in eligible investment assets.
ELTIFs have a pre-established lifespan.
Regulation (EU) 2015/760 of the European Parliament and of the Council of 29 April 2015 on European long-term investment funds, in its definition of these entities, does not make the distinction between actual funds (separate assets that, lacking legal personality, must be represented and managed by a management company) and companies, as is common in Spanish regulation. Thus, although reference is made here to 'funds,' these entities can adopt either of these two legal forms.
These entities are included in the ‘non-MMF investment funds’ subsector, S.124 in the European System of Accounts 2010.
Related concepts
References
- European System of Accounts 2010. Interactive version.
- Sectorisation table (European System of Accounts 2010).
Legal frame
Update date: May 2025
