On 20 April 2015, the Council of the European Union adopted a regulation on European long-term investment funds (the “Regulation”) which aimed at increasing the pool of capital available for long-term investment in the European Union (“EU”) economy by creating a new fund vehicle. The Regulation falls within the scope of the Europe 2020 Strategy announced by the European Commission in 2010 to boost growth in Europe and to put Europe back on track towards a “smart, sustainable and inclusive economy”.
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