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Tuesday, March 5, 2024

First Eltif funds: tangible assets for little money

Own a piece of New York’s JFK Airport? This is possible with Swiss Life’s Eltif.
Image: AP

There are high hopes for the European real assets fund for private investors, Eltif. Now the first offers are coming for infrastructure, private equity and credit funds.

SThe reform of the Eltif (European Long Term Investment Framework) has been in force for almost a month. The one from the EU The legal framework created and now reformed is intended to give private investors access to asset classes that were previously closed to them: infrastructure, for example, private equity or private loans. There is great enthusiasm in the industry. “It is the biggest change in the financial markets in decades,” says Steffen Pauls, founder and managing director of Moonfare, which sees itself as a digital investment advisor for private equity investments.

Pauls compares this opening, often referred to as the “democratization of investing,” with the path to private stock investing. 120 years ago this was also reserved for the rich. The opening up of private equity will happen much faster. Moonfare’s goal has always been to “democratize” private equity, says Pauls, former German head of the private equity industry giant KKR. Five years ago we started with fund investments and minimum investment amounts of 100,000 euros. Last year they launched an investment fund with a minimum of 50,000 euros. Now, at a press conference in Frankfurt, an Eltif strategy has been presented for investments starting at 10,000 euros.

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