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On 12 March 2026, ALFI and LPEA submitted their feedback to the European Commission consultations on the EU venture and growth funds reform. With around 700 sub-threshold alternative investment fund managers (AIFMs) and 30 EuVECA funds/17 EuVECA managers, Luxembourg is a popular choice of domicile for small and mid-sized AIFMs in the EU.
A new or revised framework may help to render the current framework more appropriate to the size, investment strategy, risk profile and/or other characteristics of small and mid-sized alternative investment fund managers (AIFMs). Both Associations are of the view that Europe’s growth, competitiveness and capacity for innovation would be best supported by a streamlined and proportionate regulatory framework, rather than by additional layers of administrative requirements, while continuing to ensure a high level of investor protection.
ALFI and LPEA are calling for measures that would notably simplify the registration, reporting, governance and operational requirements for small and mid-sized AIFMs, including EuVECA, and for a more harmonised approach across Member States. The success of the Savings and Investment Union will depend not only on the mobilisation of capital, but also on whether scale is viewed as a strategic asset rather than a regulatory liability.
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