Societe Generale Securities Services selected by Schroders for the launch of its first Luxembourg ELTIF 2.0 fund in France


Societe Generale Securities Services (SGSS) in France is pleased to have supported its partner Schroder Investment Management (Europe) S.A. (“Schroders”) in the launch of “Schroders Capital – Private Equity ELTIF 2023”, its first Luxembourg ELTIF 2.0* Private Equity fund, distributed internationally and in the French marketplace. The first transactions were settled in ELTIF 1 format in November 2023. All the conditions relating to ELTIF 2.0 have been put in place to be integrated from 10 January 2024.

Following several months of successful collaboration, our partnership with Schroders in France has made Schroders one of the first asset managers to market an ELTIF 2.0 to French retail clients. In accordance with Article 31 (2) of the ELTIF Regulation and Article 32 of the AIFMD, Schroders has been granted a marketing passport to distribute ELTIF shares to both professional investors and retail investors under the ELTIF regulation within the European Economic Area.

By combining more flexible investment rules for managers and promoting, in particular, investments in green bonds by including them in assets eligible for investment, this new regulation allows both professional and non-professional clients to access this type of alternative investment.

"We were able to benefit from real support from SGSS, both for operational and technical implementation and we would like to thank our centralising agent in France. Our product has been launched and the first subscriptions have been successfully processed"Vanessa Grüneklee, Executive Director of Schroders Europe said.

"We are proud to have been selected by Schroders for the launch of their first ELTIF 2.0 fund distributed in France to retail and institutional clients and to have supported them in defining an automated distribution model", Stéphanie Gaudoux, Head of Coverage France and Continental Europe at Societe Generale Securities Services said.

Drawing on its experience, Schroders has been able to deploy the ELTIF 2.0 in France in an automated model, simplifying the operational processing of subscription/redemption orders in line with the French distributors’ standards, while taking into account the specific characteristics of this type of product.

Everything you need to know about the ELTIF regulation.

*Please note:  European Long-Term Investment Funds (ELTIFs) were introduced by European Regulation 2015/760, which came into force on 9 December 2015. The purpose of these funds is to provide long-term financing to infrastructure projects, unlisted companies and listed SMEs that issue equity or debt instruments.

Following the amendment of Regulation (EU) 2015/760, the new Regulation (EU) 2023/606 of 15 March 2023 aims to amend the requirements relating to the investment policies and operating conditions of European long-term investment funds. It has come into force on 10 January 2024.