Carmignac introduces a semi-liquid European Long-Term Investment Fund (ELTIF) aimed at expanding access to private equity markets, emphasising secondary transactions and governed within a regulated framework to cater to a broader investor base.
Carmignac will launch a new European Long-Term Investment Fund (ELTIF) , Carmignac ELTIF Evergreen , on 31 March 2026, seeking to broaden retail and institutional access to private equity while retaining a semi-liquid, open-ended structure, the firm said.
Configured to invest across the private equity spectrum, the fund will place particular emphasis on secondary transactions, supplemented by primary commitments and direct co‑investments. Carmignac said the approach provides diversified exposure to private companies globally with an initial geographic tilt towards Europe. The manager highlighted the secondary market as a key source of opportunities in Europe today, citing lower entry valuations, established governance frameworks and an expanding deal pipeline.
The strategy builds on Carmignac Private Evergreen, a vehicle introduced in May 2024 for professional investors; according to Carmignac, the ELTIF format allows the firm to deliver the same portfolio construction, governance and risk management standards within a regulatory wrapper intended to widen investor access. The fund is available to subscribe in a number of European markets, the United Kingdom and Singapore and will accept monthly subscriptions with quarterly redemption windows after launch. Carmignac recommends a minimum investment horizon of five years and classifies the fund under Article 8 of the Sustainable Finance Disclosure Regulation.
Maxime Carmignac, chief executive officer of Carmignac UK, said: “Private equity markets have long proved popular with investors seeking to diversify away from traditional asset classes, but restrictive fund structures meant the asset class was largely reserved for professional investors and financial institutions. Consistent with our commitment to make sophisticated investments available to a wide range of investors, we have taken advantage of developments within the asset class to launch high-quality products. The launch of a second fund, less than two years after Carmignac Private Evergreen, illustrates increasing appetite from our clients for access to this asset class. The new ELTIF fund will allow us to deliver our process within a clear, robust and even more accessible framework.”
The firm said its private equity activities are overseen by a team led by Édouard Boscher and that it partners with secondaries specialist Clipway to secure co-investment opportunities and help control costs. Édouard Boscher added: “As private equity markets expand and mature, the secondary market has established itself as a key source of opportunity and performance driver. Its growing depth and the quality of European opportunities currently available allow investors to build diversified portfolios with improved asset visibility, while actively contributing to the development of the European economy. With Carmignac ELTIF Evergreen, our objective is to harness these structural dynamics to generate long-term performance through rigorous selection.”
Industry observers note that ELTIFs have become an increasingly popular route for asset managers seeking to extend private-market strategies beyond traditional private funds, because the regime permits long-term capital deployment into companies, infrastructure and real estate within a regulated framework. For investors, the semi-liquid design aims to balance access and ongoing liquidity with capital being deployed from launch to avoid prolonged cash drag, Carmignac said.
Carmignac’s announcement follows growing investor interest in secondary market allocations across Europe, where managers and advisers point to larger and more liquid secondary deal flow as a way to shorten investment hold periods and improve visibility on asset cash flows. The firm’s public documentation stresses the importance of experienced partner networks and negotiated co-investment terms in preserving cost efficiency and enhancing potential returns.
The ELTIF will be offered in multiple share classes, according to Carmignac’s fund literature, and will be marketed alongside the firm’s existing private equity products as part of its broader effort to expand private markets capability to a wider investor base.
- https://funds-europe.com/carmignac-expands-private-markets-offering-with-eltif/ – Please view link – unable to able to access data
- https://www.carmignac.com/en-gb/articles/carmignac-eltif-evergreen-expanding-access-to-private-equity-for-all-investors-3636-12732 – Carmignac has announced the launch of Carmignac ELTIF Evergreen, a semi-liquid open-ended private equity fund set to debut on 31 March 2026. This fund aims to broaden access to private equity investments by offering a diversified approach to global private companies, initially focusing on Europe. It will invest across the private equity universe, with significant exposure to secondaries, complemented by primary investments and direct co-investments. The ELTIF structure is designed to allow investors to make long-term investments in assets such as companies, infrastructure, and real estate. Europe currently presents opportunities in secondaries, supported by lower entry valuations, established governance frameworks, and a growing pipeline of assets, according to Carmignac. The strategy builds on Carmignac Private Evergreen, launched in May 2024 for professional investors. Through the ELTIF structure, Carmignac aims to broaden access to this investment approach while maintaining the governance, risk management, and portfolio construction standards applied to its first fund. The firm’s private equity strategies are overseen by a team led by Edouard Boscher. The firm also works with secondaries specialist Clipway, giving it access to direct co-investments and helping keep costs efficient for investors. The fund is already available for subscription across multiple European markets, the UK, and Singapore. Following launch, it will offer monthly subscriptions and quarterly redemption windows.
- https://www.carmignac.com/en-gb/our-funds/carmignac-eltif-evergreen-LU3267163833-a-eur-acc – The Carmignac ELTIF Evergreen Fund is officially launching on 31 March 2026. This semi-liquid, open-ended fund is suitable for all investors, offering liquidity with capital fully deployed from day one. It provides a diversified approach to global private companies, with a focus on Europe, driven primarily by private equity secondaries. The fund also offers complementary partnerships with experienced private equity players to benefit from selected co-investments at negotiated conditions. The recommended minimum investment horizon is five years. The fund is classified under Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
- https://www.carmignac.com/en-gb/our-funds/carmignac-eltif-evergreen-LU3267164054-a2-eur-acc – The Carmignac ELTIF Evergreen Fund is officially launching on 31 March 2026. This semi-liquid, open-ended fund is suitable for all investors, offering liquidity with capital fully deployed from day one. It provides a diversified approach to global private companies, with a focus on Europe, driven primarily by private equity secondaries. The fund also offers complementary partnerships with experienced private equity players to benefit from selected co-investments at negotiated conditions. The recommended minimum investment horizon is five years. The fund is classified under Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
- https://www.carmignac.com/en-gb/our-funds/carmignac-eltif-evergreen-LU3267164138-i-eur-acc – The Carmignac ELTIF Evergreen Fund is officially launching on 31 March 2026. This semi-liquid, open-ended fund is suitable for all investors, offering liquidity with capital fully deployed from day one. It provides a diversified approach to global private companies, with a focus on Europe, driven primarily by private equity secondaries. The fund also offers complementary partnerships with experienced private equity players to benefit from selected co-investments at negotiated conditions. The recommended minimum investment horizon is five years. The fund is classified under Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
- https://www.carmignac.com/en-gb/our-funds/carmignac-eltif-evergreen-LU3267163916-f-eur-acc – The Carmignac ELTIF Evergreen Fund is officially launching on 31 March 2026. This semi-liquid, open-ended fund is suitable for all investors, offering liquidity with capital fully deployed from day one. It provides a diversified approach to global private companies, with a focus on Europe, driven primarily by private equity secondaries. The fund also offers complementary partnerships with experienced private equity players to benefit from selected co-investments at negotiated conditions. The recommended minimum investment horizon is five years. The fund is classified under Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
- https://www.carmignac.com/en-gb/our-funds/carmignac-eltif-evergreen-LU3267163833-a-eur-acc – The Carmignac ELTIF Evergreen Fund is officially launching on 31 March 2026. This semi-liquid, open-ended fund is suitable for all investors, offering liquidity with capital fully deployed from day one. It provides a diversified approach to global private companies, with a focus on Europe, driven primarily by private equity secondaries. The fund also offers complementary partnerships with experienced private equity players to benefit from selected co-investments at negotiated conditions. The recommended minimum investment horizon is five years. The fund is classified under Article 8 of the SFDR (Sustainable Finance Disclosure Regulation).
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article was published on 23 February 2026, and the fund is set to launch on 31 March 2026. The earliest known publication date of similar content is 19 September 2024, when Carmignac announced its first private equity strategy, Carmignac Private Evergreen. ([carmignac.com](https://www.carmignac.com/en-gb/articles/carmignac-unveils-first-private-market-offering-with-evergreen-strategy-3087-10636?utm_source=openai)) The current article provides updated information on the new fund, indicating freshness.
Quotes check
Score:
7
Notes:
The article includes direct quotes from Maxime Carmignac and Édouard Boscher. A search reveals that these quotes are also present in Carmignac’s official announcement. ([carmignac.com](https://www.carmignac.com/en-gb/articles/carmignac-eltif-evergreen-expanding-access-to-private-equity-for-all-investors-3636-12732?utm_source=openai)) This suggests the quotes are sourced from the company’s press release, which may limit their originality.
Source reliability
Score:
9
Notes:
The article is published on Funds Europe, a reputable industry publication. However, the content is based on Carmignac’s press release, which may introduce bias. The article also references Carmignac’s official website, which is a primary source. ([carmignac.com](https://www.carmignac.com/en-gb/articles/carmignac-eltif-evergreen-expanding-access-to-private-equity-for-all-investors-3636-12732?utm_source=openai))
Plausibility check
Score:
8
Notes:
The claims about the fund’s structure, investment focus, and launch date are consistent with information from Carmignac’s official announcement. The article mentions that the fund will invest across the private equity universe with significant exposure to secondaries, complemented by primary investments and direct co-investments, and a diversified approach to global private companies, initially focusing on Europe. ([carmignac.com](https://www.carmignac.com/en-gb/articles/carmignac-eltif-evergreen-expanding-access-to-private-equity-for-all-investors-3636-12732?utm_source=openai))
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article provides timely information about Carmignac’s upcoming fund launch, with details consistent with the company’s official announcement. However, the heavy reliance on Carmignac’s own sources and the presence of quotes directly from the press release suggest a lack of independent verification, which raises concerns about the article’s originality and potential bias.