Xavier Parain (pictured), head of Asset Management Directorate at French financial market regulator AMF, has announced that around ten French asset management firms have already received AMF’s green light to provide direct lending services to non financial companies.
First funds lent have aimed at financing infastructure projects and French small-mid sized enterprises.
AMF checks that the asset managers, which are granted the agreement for direct lending services, have specific capabilities for this activity, have set up organisational rules in the field of clients relationships and established a robust lending processus, Parain said in an interview released on AMF’s website.
Another topic Parain highlighted is the modernisation of rules regarding securitisation bodies.
A new vehicle has been created, compliant to the AIFM directive. It will consist of a non-tranche alternative fund that will finance itself by issuing bonds and that will benefit from cross-border passporting rights as well as from the European long-term investment fund label (Eltif).