Solar Investment Group SIF S.C.A. fund was set up as a multi-compartment SIF in March 2011 and received the Commission de Surveillance du Secteur Financier ("CSSF") authorization on the 27th September 2011.
RAEF will be the third fund for the team and the second Sub-Fund of Solar Investment Group SIF S.C.A. (subjected to the approval of CSSF).
The CSSF ensures monetary and financial stability, indispensable conditions for lasting growth of the economy, acting on the basis of powers and responsibilities assigned by Luxembourg law, with regard to the control of individual intermediaries and the financial system as a whole.
The CSSF furthermore exercises its supervisory role over banks, banking groups and financial intermediaries ensuring the overall stability, efficiency and competitiveness of the financial system and the compliance with banking and financial rules and regulations.
The governance of the fund is assured by three main committees:
Composed of 3 executives fully legal responsible for the investment decisions. The General Partner's Board has also an operational role in the management of the Fund.
Composed of 5 members, is a combination of internal executives, external advisors and Shareholder representatives. The investment committee:
- review, consider and advise the Board regarding the approval of the global investment activities of RAEF that fall within the Sub-Committee's mandate
- review the progress of investments on a regular basis and advise on the potential dismissal of assets to optimize the portfolio
- review any offers that arrive from third parties for the acquisition of assets of RAEF
The Board maintains all responsibility and liability for the final investment decisions and the running of the Fund
Composed of 4 well respected figures in the industry and in the investment community, the purpose of the Advisory Board is to advise the Board and make non binding recommendations within the areas of its experience and expertise and to review investment policies, strategies and transaction of RAEF.
The Advisory Board has the power to do all things necessary to perform its duties and fulfill its purpose including:
- Make recommendations to the Board regarding transactions
- Advise on the overall equity allocation of the fund and suggest strategies to change the deployment assets
- To perform other functions as may be required by the Board from time to time
The Fund is supported by these professional firms:
Legal Firm: Brown Rudnick LLP, Greenberg Traurig Maher LLP
Auditing Firm: Deloitte
Depositary Bank and Administrative Agent: Banque Privée Edmond de Rothschild