The underlying investment vehicles that Consortium specialises in establishing are Exempt Property Unit Trusts (EPUTs, an exempt unauthorised unit trust that holds property – please click here for our EPUT Establishment & Transaction Guide) and Limited Partnerships (LPs – Please click here for our LP Establishment & Transaction Guide).
These fund vehicles are used by Consortium to bring investors together using their pension and/or non-pension monies to undertake specific investments, including:
- Purchasing or developing real estate, principally in the UK
- Making commercial secured loans
- Providing feeder funds into other investment structures
- Onshore equity structuring for structured finance transactions
Collective investment arrangements in the UK are principally governed by the Financial Services and Markets Act 2000 (FSMA) and Alternative Investment Fund Managers Regulations 2013. Under FSMA, there is a general prohibition on establishing, operating or winding up a collective investment scheme (CIS) without being authorised by the FCA. Most CISs will also be alternative investment funds (AIF) and subject to the AIF regulations. There are also various pieces of legislation and FCA regulations governing how these products can be marketed.