French asset manager Seven Capital Management has become one of the first in the country to be granted Alternative Investment Fund Management (AIFM) approval, which allows funds to be marketed across Europe.
The news comes two weeks after the firm received the AIFM asset management ‘passport’, which allows it to directly market a Luxembourg alternative investment fund from France.
Seven CEO and founder Johann Schwimann said, “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.”
Founding partner Johann Nouveau said, “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.
“This approval has also strengthened our desire to ensure that Seven Capital Management adheres to the highest international management, monitoring and procedural standards.”
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