Introducing AMUF

The Asset Management Umbrella Fund (AMUF) provides institutional investors the opportunity to access a diversified pool of investments across European private equity and venture capital. Through the European Investment Fund (EIF) as its investment advisor, AMUF benefits from a wide network of European general partners with proven experience in the market. AMUF currently has three compartments with the following features:

AMUF structure

AMUF is an investment vehicle domiciled in Luxembourg, which benefits from the flexibility and European market access made available by the Reserved Alternative Investment Fund (RAIF) regime.

It is a corporate limited partnership managed by a general partner, the AMUF GP, and an Alternative Investment Fund Manager (AIFM), the Alter Domus Management Company S.A.

The EIF is the sole advisor of the AMUF, enabling us to benefit from an unrivalled access to long-standing relationships with established private equity and venture capital managers.

Existing investors

AMUF welcomes a wide range of institutional investors (insurance companies, pension funds, sovereign wealth funds) as well as family offices. Current investors are:

Cassa Nazionale di Previdenza e Assistenza Forense (Cassa Forense), Italy

Ente Nazionale di Previdenza e Assistenza per i Consulenti del Lavoro (ENPACL), Italy

Ente Previdenziale dei Periti Industriali e dei Periti Industriali Laureati (EPPI), Italy

Spanish National Pension Fund, Spain

Itzarri - Entidad de Previsión Social Voluntaria (EPSV), Spain

Cassa Nazionale di Previdenza ed Assistenza per gli Ingegneri ed Architetti, Italy

Banque et Caisse d΄Epargne d΄Etat (BCEE), Luxembourg

Japanese banking group

Two Italian pension funds

German occupational pension fund

Grupo Ageas Portugal

Luxembourgish pension fund

Italian investment fund

German insurance company

Alphabet Capital International Designated Activity

Are you interested in investing with AMUF? For further information go to page for investors or contact us

Governance

AMUF is managed by the AMUF GP – a Luxembourg based general partner – with the following Board Members and Investment Committee Members.

Board members

John Holloway

Independent Board Member
John Holloway Independent Board Member

John Holloway has over 40 years of experience in the financial industry. In 2000-2017 he was Director of Equity Investments at the EIF, and at the end of 2017 he was appointed Director of Institutional Asset Management. He retired from the EIF in December 2018, however, continues to serve on the Board of AMUF as an independent member.

Sandrine Goiris

Director - Alter Domus
Sandrine Goiris Director - Alter Domus

Sandrine Goiris has been with the Alter Domus Alternative Fund Administration since 2001. In her role as Director, she manages the servicing of regulated investment vehicles in the company’s portfolio in Luxembourg. In addition, she serves on a number of boards of private equity and real estate funds.

Maria Sanchez

Funds Senior Manager - Alter Domus
Maria Sanchez Funds Senior Manager - Alter Domus

Maria Sanchez is in charge of the on-boarding and co-ordination of all services related to private equity and real estate funds as well holding funds. She has a key role in the management of client relations at the Alter Domus Alternative Fund Administration in line with her expertise in corporate funds and local laws.

Graham Cope

Head of Division – EIF Institutional Asset Management
Graham Cope Head of Division – EIF Institutional Asset Management

Graham is the Head of Institutional Asset Management with day-to-day operational management responsibilities for the division. This includes leading the development of client relationships across the Asia Pacific region and oversight of the product development activities. Graham has over 30 years of experience in the financial industry. He joined the EIF in 2006 to play a key role in the business development of external client mandates.

Rémi Charrier

Head of Division – EIF Institutional Client Relationship Management
Rémi Charrier Head of Division – EIF Institutional Client Relationship Management

Rémi is the Head of Institutional Client Relationship Management. His responsibility includes leading the development of global client relationships across all geographical areas in the world. Rémi has over 25 years of experience in the financial industry. He joined the EIF in 2009 to play a key role in developing multi-billion programmes with the European Commission, the European Investment Bank (in particular, the SME Window of the Investment Plan for Europe – the Juncker Plan) as well as with Sovereign Wealth Funds.

Regional responsibility: Worldwide

Investment Comittee Members

Jean-Philippe Burcklen

Head of Investments - Private equity & private debt
Jean-Philippe Burcklen Head of Investments - Private equity & private debt

Leveraging his experience of more than 20 years in private equity, Jean-Philipp Burcklen oversees the EIF’s lower mid-market investment activity including a EUR 8bn portfolio. In this regard, he manages a team of 30+ professionals. His responsibilities cover investments in European private equity and private debt (hybrid and senior) as well as liquid assets (co-investments and secondary buy).

Uli Grabenwarter

Head of Investments - Technology, innovation & impact investing
Uli Grabenwarter Head of Investments - Technology, innovation & impact investing

Uli Grabenwarter manages the EIF’s venture capital investments in technology, innovation and impact investing. He has been at the forefront of expanding the EIF’s VC activity from an initial EUR 200m to a current portfolio of around EUR 7bn including the launch of EIF’s impact investing activity in 2013. He is a visiting professor for venture capital and private equity at IESE University.

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Antonis Anastasiou

Managing Director - Alter Domus
Antonis Anastasiou Managing Director - Alter Domus

Antonis Anastasiou is responsible for the day-to-day management of Alter Domus Alternative Fund Administration. He is a technical expert in structuring complex alternative vehicles and has over 10 years of experience in the Super ManCo field where he held operational and portfolio management positions focusing on alternative asset classes as well as listed investments.

Valtteri Valpas

Portfolio Manager Alter Domus
Valtteri Valpas Portfolio Manager Alter Domus

Valtteri Valpas has a strong background in analysing and investing into alternative assets, having served as a manager in the non-traditional asset investment and monitoring department of Lombard International Assurance S.A. Prior to his experience at Lombard, he was an associate at Bank of New York Mellon and worked at Allfunds Bank in Madrid. He is a CFA Charterholder

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EIF partnership

As AMUF’s investment adviser, the EIF has a deal sourcing, screening and due diligence infrastructure finessed over time with more than 20 years of experience and data, which allows the EIF to propose deals with the appropriate level of oversight accompanied by a standardised independent risk review. The EIF’s through-the-cycle investment experience, extensive due diligence and risk assessment approach is widely recognised across the market as setting industry standards.

Commonly asked questions

More details about AMUF

The Asset Management Umbrella Fund (AMUF) is a closed-ended fund incorporated in Luxembourg. AMUF is targeted to limited number of selected institutional investors and offers access to a diversified pool of investments, notably in European venture capital and growth capital.

AMUF’s geographic focus is Europe. AMUF shall invest in target funds mainly focusing on the European Union (EU), EFTA countries and EU candidate and potential candidate countries according to the EU definition.

Currently, AMUF has five open compartments:

  • European technology venture capital II (TVC II)
  • European life sciences venture capital (LSVC II)
  • European private equity II (EPE II)
  • European secondaries (ESC)
  • European private credit (EPC)

AMUF will continuously review and if necessary add to these compartments to ensure alignment with market and investors demand. Under the EIF’s advisement and in collaboration with its counterparts, AMUF may decide to create additional compartments at any time.

AMUF is a Luxembourg société d’investissement à capital variable – fonds d’investissement alternatif réservé (investment company with variable capital – reserved alternative investment fund), governed by the RAIF Act 2016, the Companies Act 1915 and the Articles. AMUF is formed as a société en commandite par actions (corporate partnership limited by shares). AMUF was incorporated on 17 October 2017 and registered as a RAIF on the 23 November 2017.

The European Investment Fund (EIF) is a leading provider of risk financing to SMEs across Europe. Part of the EIB Group, its mission is to support the broader EU agenda while generating a return for its mandators. For nearly 25 years, the EIF has been a cornerstone investor in European private equity markets and at the end of 2017, private equity assets under its management reached closed to EUR 15bn.

The EIF is AMUF’s advisor and investment manager. In this role, the EIF builds on its seasoned in-house investment teams, trustworthy and well-tested selection processes as well as long-standing relationships with General Partners throughout Europe, providing an enviable deal sourcing capacity.

AMUF offers investors a number of benefits that include:

  • Access to European prime quality private equity GPs based on EIF’s long standing relationship with these actors
  • Benefit from EIF’s unique scale of deal sourcing capacity and expertise
  • Benefit from EIF’s proven selection, due diligence and oversight processes
  • Benefit from immediate access to a diversified portfolio of top private equity funds incl. “by invitation only”
  • Benefit from the opportunity to tailor the investment exposure to the different sub asset classes thanks to the different AMUF compartments.