Seven Capital Management has become one of the first French asset management companies to be granted AIFM approval by the AMF board.
Seven has also received the AIFM “Asset Management” passport, allowing it to directly manage a Luxembourg alternative investment fund (SIF) from France.
AIFM approval is intended to strengthen monitoring of companies managing alternative investment funds, and the benefits for Seven Capital Management are two-fold. The first benefit concerns marketing, as it allows alternative investment funds (AIFs) to be distributed to retail and professional clients in France and Europe. The second benefit relates to management, as it means that this French company can directly manage an international range of investment funds (particularly in Luxembourg) from France without any additional cost or risk for its investors.
“Receiving this approval is a major milestone for Seven Capital Management. It allows us to step up the pace of our European and international development and to launch new alternative investment products in the near future,” says Johann Schwimann, chief executive and founder of Seven Capital Management.
“This approval is made all the more important for our strategic development by the fact that BaFin, the German financial markets authority, is now likely to require it for all AIFs marketed to German investors,” says Johann Nouveau, founding partner of Seven Capital Management. “This approval has also strengthened our desire to ensure that Seven Capital Management adheres to the highest international management, monitoring and procedural standards.”
Seven Capital Management is advised by Reinhold & Partners for obtaining AIFM approval and also concerning the creation of European investment vehicles.