In 2023, we were approached by a client who is an alternative investment fund manager under Section 15 of the AIFMD. Such a manager must be registered with the Czech national bank but is not subject to its supervision. According to §15, the manager is not entitled to offer its investment services to the public, only to a small number of retail investors or qualified investors.
The client asked us to value a company in which he is an investor and an alternative fund manager with the main intention of expanding its branch network. This investment opportunity is a major part of the client’s investment strategy.
We performed a valuation, determined the value of the company and the price we would be able to obtain in the market.
The performed valuation serves as:
- valuable information for existing investors who have already made an investment
- a basis for approaching new potential investors (retail or qualified)
- a representation of the current situation for comparison with the past
- a basis for monitoring the development of the company’s value over time
According to §15, the alternative investment fund manager has an information obligation towards the Czech National Bank. The report is sent once a year for the previous year, at the latest by 31 January via the SDAT system. We also provide this reporting process.
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