Caerus Investment Management (UK) Ltd receives AIFM regulatory authorisation from the Financial Conduct Authority
London, 1st September 2016 – Caerus Investment Management (UK) Ltd, the UK arm of Caerus International Ltd has today received confirmation from the UK Financial Conduct Authority (FCA) that it has been granted regulatory authorisation as an Alternative Investment Fund Manager (AIFM) in accordance with the Alternative Investment Fund Managers Directive (AIFMD).
The AIFMD is a regulatory framework for alternative investment managers managing unlisted real estate funds, retail investment funds, hedge funds, private equity funds and investment trusts, each of which is classified as an Alternative Investment Fund (AIF) under the directive.
Implemented in the United Kingdom on 22 July 2013, the AIFMD establishes an EU-wide harmonised framework for monitoring and supervising risks posed by AIFMs and the various AIFs they manage, and for strengthening the internal market in alternative funds. Its broad scope covers the management, administration and marketing of AIFs across Europe, with a focus on regulating the external AIFM, rather than the AIF itself, which typically is also regulated by the regulator in the domicile of the actual AIF (such as the case with the CSSF in Luxembourg for example).
The AIFMD was implemented to enhance the supervisory practices among EEA competent authorities to improve investor protection by imposing new depositary standards and enhanced transparency through new investor disclosure rules and mandatory reporting to competent authorities.
Christopher Millen, Managing Director of Caerus Investment Management said: “Our AIFM authorization demonstrates our commitment to protecting our equity partners as we ensure the highest quality of corporate governance across our externally managed real estate fund structures. This authorization is a result of over two-years of preparation, and we are proud to consider it a “stamp of quality” for our business. We are now looking forward to ramping-up our equity raising efforts aimed at professional investors within the EEA, and in the near future, launching our first AIF vehicle, taking advantage of the marketing and management passporting privileges being an AIFM now provides us.”
Peter Koritschan, Managing Director of Caerus Investment Management also said: “As we grow our suite of tailored real estate fund products targeted at family offices, private banks and institutional equity partners, this accreditation helps to differentiate Caerus in a highly competitive environment. In investing into a Caerus managed AIF, investors can be assured that we operate to institutional standards, paying heed to FCA principles including conflicts of interest, risk management, strict valuation procedures, minimum disclosures, capital adequacy requirements, professional indemnity insurances and the safekeeping of investments via the mandatory appointment of depositaries and custodians.”