Pure Capital became one of the first independent & privately held Luxembourg based Asset Management Companies to receive the Alternative Investment Fund Manager (AIFM) license from the CSSF to become a management company service provider for alternative funds.

Pure Capital was already operating under a Chapter 15 of the 17th December 2010 law license, providing management company services to UCITS funds. The 12th of July 2013 law, Alternative Investment Fund Directive (AIFMD) directive transposition into Luxembourg law opened a range of opportunities for alternative funds to base their AIFM in Luxembourg alongside other service providers, enabling a greater efficiency, consistency and security in the management of Luxembourg domiciled funds. Alternative funds falling under the requirements of the AIFMD have until the 22nd of July 2014 to comply with the new regulation.

Bernard Pons, founding partner of Pure Capital, in charge of management company services stated: “This formal approval confirms our dedication to providing state of the art investment and risk management services for our clients and partners. Our so-called “super-manco” status will enable us to further extend our asset base within the professional investment management sector. Our unique asset management expertise, specifically with regards to alternative funds may now be put at work, offering a unique positioning on the Luxembourg market“.

As of April 2014, CSSF, the Luxembourg regulator, had already received over one hundred and fifty license applications for this AIFM activity. As of the 8th of May, 36 licenses had been granted. Raoul Chevignard, Head of AIFM at Pure Capital, who assembled and presented the AIFM authorization dossier to the CSSF commented: “The license was awarded just over four months after we introduced the application, which we feel demonstrates the adequacy of our model. Pure Capital’s strategy has indeed been to capitalize on the existing Chapter 15 structure and framework in place with regards to functions common to AIFMD and the UCITS framework. We further developed specific approaches to the specific AIFMD regulatory requirements and particularities of the asset class, shaping the enhanced operations of the now live “super-manco” into an efficient and highly robust structure.”

Pure Capital is a Luxembourg born privately held independent asset management company, providing management company services to UCITS and alternative funds, as well as discretionary investment management services for private and institutional clients. The company counts over 20 employees and manages around 500 million Euro.