Insights

The Lux UCI Part II is older than most of the people now marketing it - but it solves a problem no RAIF or QIAIF can: it accepts retail investors. That is why the world's largest alternative managers are building their European evergreen products inside it.

The ELTIF isn't a fund structure - it's a label you add to an existing vehicle. How the market went from under 100 funds in nearly a decade to 150+ in just over a year.

Ireland's QIAIF is the most permissive regulated fund structure in Europe. No prescribed asset classes, no diversification rules, no statutory borrowing limits. Submit a complete application by 3pm and the Central Bank authorises it by the next morning.

The LTAF was designed for UK's DC pension schemes and with £5bn in assets and 80% of UK managers eyeing a launch, it's moving fast. We cover who can invest, what it can hold, and the limitations wealth managers need to know before recommending one.

Not regulated by the CSSF - that doesn't mean unregulated. We cover how it works, the RAIF-plus-ELTIF hybrid that's gaining traction, and when a RAIF is the wrong choice entirely.

Analysis of 37 European-domiciled vehicles highlights rapid recent launches, concentration among large managers, a Europe-first geographic focus, generally light lock-ups, varied fee structures, and mixed relative performance.

Evergreen infrastructure equity is becoming a real category in Europe’s wealth channel. Borgline tracks 16 European-domiciled vehicles with recorded $14.2bn NAV. In the first 10 months of 2025, the Borgline Evergreen Infrastructure Europe Index returned 12.46% net in USD with median fund performance of 13.31%, IQR 9.42%–16.24%.