{"id":3289,"date":"2023-11-17T09:39:52","date_gmt":"2023-11-17T09:39:52","guid":{"rendered":"https:\/\/alterdomus.com\/?post_type=insights&#038;p=3289"},"modified":"2024-07-08T16:20:44","modified_gmt":"2024-07-08T15:20:44","slug":"pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu","status":"publish","type":"insights","link":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/","title":{"rendered":"Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU"},"content":{"rendered":"\n<div class=\"wp-block-filter-blocks-container filter-article-header-container filter-article-news has-ffeec-8-background-color has-background\"><div class=\"filter-container\" style=\"background-color:#ffeec8\"><div class=\"filter-container-background-image\" style=\"background-position:center center;background-repeat:no-repeat;background-size:cover\"><\/div><div class=\"container\"><div class=\"filter-container--inner filter-block-wrapper\">\n<div class=\"wp-block-filter-blocks-section is-style-standard\"><div class=\"filter-section\"><div class=\"filter-section--inner\">\n<p class=\"has-large-font-size\" style=\"margin-bottom:var(--wp--preset--spacing--xl)\">News<\/p>\n\n\n<h1 style=\"margin-bottom:var(--wp--preset--spacing--m);\" class=\"wp-block-post-title has-huge-font-size\">Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU<\/h1>\n\n\n<p class=\"has-medium-font-size\">In the first article in a four-part series on raising capital in Europe, we look at why non-EU fund managers should be exploring pre-marketing along with other upcoming regulatory changes shifting the alternative landscape, namely ELTIF 2.0 and the democratization of alternative funds. Insights come from&nbsp;Antonis Anastasiou, Group Head of Product Development, and&nbsp;Conor O\u2019Callaghan, Head of AIFM Ireland.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-filter-primary-color has-alpha-channel-opacity has-filter-primary-background-color has-background is-style-default\" style=\"margin-top:var(--wp--preset--spacing--2-xl);margin-bottom:var(--wp--preset--spacing--m)\" \/>\n\n\n\n<div class=\"wp-block-columns filter-article-meta-container is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"has-text-align-right wp-block-post-date__modified-date wp-block-post-date has-small-font-size\"><time datetime=\"2024-07-08T16:20:44+01:00\">8 July 2024<\/time><\/div><\/div>\n<\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-filter-blocks-container filter-article-content-container\"><div class=\"filter-container\"><div class=\"filter-container-background-image\" style=\"background-position:center center;background-repeat:no-repeat;background-size:cover\"><\/div><div class=\"container\"><div class=\"filter-container--inner filter-block-wrapper\">\n<div class=\"wp-block-filter-blocks-section is-style-standard\"><div class=\"filter-section\"><div class=\"filter-section--inner\"><figure style=\"height:250px;\" class=\"wp-block-post-featured-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"2560\" height=\"1707\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"architecture modern curves\" style=\"border-radius:32px;height:250px;object-fit:cover;\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg 2560w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-300x200.jpg 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-1024x683.jpg 1024w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-768x512.jpg 768w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-1536x1024.jpg 1536w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-2048x1365.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n<p>There seems to be a misconception among non-EU alternative fund managers that Europe is a complex and closed market for raising fresh capital.<\/p>\n\n\n\n<p>Those managers are being advised that reverse solicitation is no longer an option following the August 2021 changes to the AIFMD Marketing Rules. This is rightly so in our opinion, as it should never have been considered a marketing strategy in the first place. That being said, the knock-on effect is that they are no longer actively considering raising capital in Europe.<\/p>\n\n\n\n<p>What is clear to us is that such managers aren&#8217;t being fully made aware that there are other marketing solutions for their funds. \u2018If reverse solicitation is no longer an option,\u2019 they say to us, \u2018why would I &nbsp;spend the time and effort to try raise capital in Europe?\u2019<\/p>\n\n\n\n<p>The immediate answer we give to that question: pre-marketing.<\/p>\n\n\n\n<p>Once we raise the subject of pre-marketing &#8211; and how it is a far more cost-efficient and timely way of engaging with prospective investors before launching a fund \u2013 we sense that managers become very interested. It\u2019s at that point that they often start to reconsider what opportunities there may be across Europe.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-clarity-for-fund-managers-the-rules-about-pre-marketing-nbsp\" style=\"margin-top:var(--wp--preset--spacing--l)\"><strong>Clarity for fund managers: the rules about pre-marketing&nbsp;<\/strong><\/h3>\n\n\n\n<p>The current EU rules around the pre-marketing of alternative investment funds have been live since August 2021. Previously, what constituted pre-marketing &#8211; which was sometimes known as \u2018soft marketing\u2019 &#8211; hadn&#8217;t been universally defined across the EU member states. Different rules in different jurisdictions meant the process was considerably more complex, with fund managers often needing legal advice about what was allowed in each country.<\/p>\n\n\n\n<p>Much of that complexity has been removed. The introduction of harmonized, EU-wide, pre-marketing rules has provided greater clarity for fund managers who are looking to navigate this market and need to understand what preliminary promotional activities are permitted before establishing a fund.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-what-is-permitted-the-definition-of-pre-marketing-in-europe-nbsp\" style=\"margin-top:var(--wp--preset--spacing--l)\"><strong>What is permitted: the definition of pre-marketing in Europe&nbsp;<\/strong><\/h3>\n\n\n\n<p>Across all EU member states, pre-marketing is defined as the provision of information on investment ideas and strategies, as well as the track record of the manager. That information is provided by, the authorised representative, to investors in the EU to test their interest in a fund that has not yet been established or has been established but has not at this stage been notified for active marketing. To comply with the rules,&nbsp;pre-marketing must not include information that could amount to an offer or a placement to the investor.<\/p>\n\n\n\n<p>To engage into pre-marketing discussions with potential investors, alternative managers simply need to select an AIFM they would like to work with. In-turn the AIFM files a notification with their local regulator on behalf of the manager. The notification details the intent to launch a fund and their wish to initiate discussions with potential investors in the countries listed in the notification (passporting rights).<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-cost-efficient-and-faster-why-fund-managers-are-using-pre-marketing-nbsp\" style=\"margin-top:var(--wp--preset--spacing--l)\"><strong>Cost efficient and faster: why fund managers are using pre-marketing&nbsp;<\/strong><\/h3>\n\n\n\n<p>Fund managers are finding that with pre-marketing, the previous cost barriers to initiate discussions and test the market \u2013 which could run into hundreds of thousands of Euros \u2013 are no longer there. They\u2019re able to gauge investor interest first before incurring the expense of launching the fund.<\/p>\n\n\n\n<p>Pre-marketing is also faster. Previously, managers had to first go through the process of establishing the fund or vehicle. Then they had to appoint service providers including the AIFM, who in turn had to notify the regulator in each of the countries in which they wanted to commence marketing. Obtaining regulatory approval from all the relevant authorities could take up to an additional 21 days following launch of the fund.<\/p>\n\n\n\n<p>Under the current rules, that&#8217;s no longer necessary. A Pre-marketing arrangement takes just a couple of weeks to set up. All that is needed is the submission of notification to the relevant regulator, but it does not require formal approval. Once activated you&#8217;re able to test the appetite for your strategy with investors across Europe. Once you&#8217;re confident to proceed and you feel you have sufficient interest, you can go ahead and establish your fund.\u00a0This could also be a process which can run in parallel with pre-marketing. <\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-further-regulatory-enhancements-and-the-emergence-of-eltif-2-0\" style=\"margin-top:var(--wp--preset--spacing--l)\"><strong><strong>Further regulatory enhancements and the emergence of ELTIF 2.0<\/strong><\/strong><\/h3>\n\n\n\n<p>Any fund manager who is considering raising capital in Europe should be aware that pre-marketing is only permitted when approaching professional or well-informed investors. When used in conjunction with the passporting rights that come with a pre-marketing arrangement, a manager can register in one EU member state, to pre-market across all member states, and now reach a broader range of potential investors while minimizing initial outlay.\u00a0\u00a0Pre-marketing and marketing passport rights  will also apply to the new adaptation of the existing European Long Term Investment Fund regime, known as ELTIF 2.0, when it comes into effect in January next year. These enhancements to ELTIF 2.0 will also open access to a retail network eligible to invest in ELTIF 2.0 funds.<\/p>\n\n\n\n<p>A new market of private individuals and wealth managers, comes at a time when there has been a decline in commitments from traditional LPs and institutional investors to GPs and managers.<\/p>\n\n\n\n<p>Over the remaining three articles in this four-part series, we will take you through the new adaptations of the ELTIF 2.0 framework. We will also cover key considerations you may wish to address when looking to raise capital in Europe and how we are preparing to serve our clients as the fundraising landscape in Europe evolves.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<div style=\"height:54px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Learn more about Alter Domus&#8217; <a href=\"https:\/\/alterdomus.com\/services\/aifm-services\/\">AIFM Services<\/a> and <a href=\"https:\/\/alterdomus.com\/services\/private-equity-solutions\/\">Private Equity Solutions<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-group filter-social-sharing-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-outermost-social-sharing has-normal-icon-size has-icon-color is-style-logos-only is-content-justification-center is-layout-flex wp-container-outermost-social-sharing-is-layout-598f35b6 wp-block-social-sharing-is-layout-flex\" style=\"margin-top:var(--wp--preset--spacing--3-xl)\"><li style=\"color: #073540; \" class=\"outermost-social-sharing-link outermost-social-sharing-link-linkedin has-filter-primary-color wp-block-outermost-social-sharing-link\">\n\t<a href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&#038;url=https%3A%2F%2Falterdomus.com%2Finsight%2Fpre-marketing-a-compelling-solution-to-capital-raising-in-the-eu%2F&#038;title=Testing%20the%20market%3A%20Pre-marketing%20%E2%80%93%20a%20compelling%20solution%20to%20capital%20raising%20in%20the%20EU\" aria-label=\"Share on LinkedIn\" rel=\"noopener nofollow\" target=\"_blank\" class=\"wp-block-outermost-social-sharing-link-anchor\">\n\t\t<svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg>\t\t<span class=\"wp-block-outermost-social-sharing-link-label screen-reader-text\">\n\t\t\tShare on LinkedIn\t\t<\/span>\n\t<\/a>\n<\/li>\n\n\n<li style=\"color: #073540; \" class=\"outermost-social-sharing-link outermost-social-sharing-link-x has-filter-primary-color wp-block-outermost-social-sharing-link\">\n\t<a href=\"https:\/\/x.com\/share?url=https%3A%2F%2Falterdomus.com%2Finsight%2Fpre-marketing-a-compelling-solution-to-capital-raising-in-the-eu%2F&#038;text=Testing%20the%20market%3A%20Pre-marketing%20%E2%80%93%20a%20compelling%20solution%20to%20capital%20raising%20in%20the%20EU\" aria-label=\"Email this Page\" rel=\"noopener nofollow\" target=\"_blank\" class=\"wp-block-outermost-social-sharing-link-anchor\">\n\t\t<svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M13.982 10.622 20.54 3h-1.554l-5.693 6.618L8.745 3H3.5l6.876 10.007L3.5 21h1.554l6.012-6.989L15.868 21h5.245l-7.131-10.378Zm-2.128 2.474-.697-.997-5.543-7.93H8l4.474 6.4.697.996 5.815 8.318h-2.387l-4.745-6.787Z\"><\/path><\/svg>\t\t<span class=\"wp-block-outermost-social-sharing-link-label screen-reader-text\">\n\t\t\tEmail this Page\t\t<\/span>\n\t<\/a>\n<\/li>\n\n\n<li style=\"color: #073540; \" class=\"outermost-social-sharing-link outermost-social-sharing-link-facebook has-filter-primary-color wp-block-outermost-social-sharing-link\">\n\t<a href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Falterdomus.com%2Finsight%2Fpre-marketing-a-compelling-solution-to-capital-raising-in-the-eu%2F&#038;title=Testing%20the%20market%3A%20Pre-marketing%20%E2%80%93%20a%20compelling%20solution%20to%20capital%20raising%20in%20the%20EU\" aria-label=\"Share on Facebook\" rel=\"noopener nofollow\" target=\"_blank\" class=\"wp-block-outermost-social-sharing-link-anchor\">\n\t\t<svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M12 2C6.5 2 2 6.5 2 12c0 5 3.7 9.1 8.4 9.9v-7H7.9V12h2.5V9.8c0-2.5 1.5-3.9 3.8-3.9 1.1 0 2.2.2 2.2.2v2.5h-1.3c-1.2 0-1.6.8-1.6 1.6V12h2.8l-.4 2.9h-2.3v7C18.3 21.1 22 17 22 12c0-5.5-4.5-10-10-10z\"><\/path><\/svg>\t\t<span class=\"wp-block-outermost-social-sharing-link-label screen-reader-text\">\n\t\t\tShare on Facebook\t\t<\/span>\n\t<\/a>\n<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-filter-blocks-container filter-more-insights-container\"><div class=\"filter-container\"><div class=\"filter-container-background-image\" style=\"background-position:center center;background-repeat:no-repeat;background-size:cover\"><\/div><div class=\"container\"><div class=\"filter-container--inner filter-block-wrapper\">\n<div class=\"wp-block-filter-blocks-container filter-contacts-container filter-contacts-1\"><div class=\"filter-container\"><div class=\"filter-container-background-image\" style=\"background-position:center center;background-repeat:no-repeat;background-size:cover\"><\/div><div class=\"container\"><div class=\"filter-container--inner filter-block-wrapper\">\n<div class=\"wp-block-filter-blocks-section\"><div class=\"filter-section\"><div class=\"filter-section--inner\">\n<h2 class=\"wp-block-heading has-huge-font-size\" style=\"margin-bottom:var(--wp--preset--spacing--xl)\">Key contacts<\/h2>\n\n\n\n<div class=\"wp-block-columns filter-contacts-row is-layout-flex wp-container-core-columns-is-layout-398b3aa3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n            \n\n<div class=\"filter-contact-container\">\n    <div class=\"filter-contact-item\">\n        <div class=\"filter-contact-item-image\">\n            <img decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square-1024x1024.jpg\" class=\"attachment-large size-large\" alt=\"Antonis Anastasiou\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square-1024x1024.jpg 1024w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square-300x300.jpg 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square-150x150.jpg 150w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square-768x768.jpg 768w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/11\/Anastasiou-Antonis_square.jpg 1033w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>        <\/div>\n\n        <div class=\"filter-contact-item-content\">\n            <h4 class=\"filter-contact-name\">Antonis Anastasiou<\/h4>\n            <p class=\"filter-contact-region\">Luxembourg<\/p>\n            <p class=\"filter-contact-job-title\">Head of Corporate SPV &#038; Regulatory Services<\/p>\n\n            <div class=\"filter-contact-contact-details\">\n                <div class=\"filter-contact-details-icons\">\n                                            <span class=\"filter-contact-contact-item contact-email\">\n                            <a href=\"mailto:Antonis.Anastasiou@alterDomus.com\" target=\"_blank\">\n                                <img decoding=\"async\" alt=\"Contact by email\" src=\"https:\/\/alterdomus.com\/wp-content\/themes\/alter-domus-twentyfive-v2.1.0\/assets\/images\/mail2.svg\">\n                            <\/a>\n                        <\/span>\n                    \n                                            <span class=\"filter-contact-contact-item contact-phone\">\n                            <a href=\"tel:3522661759850\" target=\"_blank\">\n                                <img decoding=\"async\" alt=\"Contact by phone\" src=\"https:\/\/alterdomus.com\/wp-content\/themes\/alter-domus-twentyfive-v2.1.0\/assets\/images\/phone2.svg\">\n                            <\/a>\n                        <\/span>\n                    \n                                    <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n<\/div>    \n    <\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n            \n\n<div class=\"filter-contact-container\">\n    <div class=\"filter-contact-item\">\n        <div class=\"filter-contact-item-image\">\n            <img decoding=\"async\" width=\"540\" height=\"540\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/OCallaghan-Conor-e1693941885532.jpg\" class=\"attachment-large size-large\" alt=\"Conor O&#039;Callaghan\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/OCallaghan-Conor-e1693941885532.jpg 540w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/OCallaghan-Conor-e1693941885532-300x300.jpg 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/OCallaghan-Conor-e1693941885532-150x150.jpg 150w\" sizes=\"(max-width: 540px) 100vw, 540px\" \/>        <\/div>\n\n        <div class=\"filter-contact-item-content\">\n            <h4 class=\"filter-contact-name\">Conor O&#8217;Callaghan<\/h4>\n            <p class=\"filter-contact-region\">Ireland<\/p>\n            <p class=\"filter-contact-job-title\">EU Fund Regulated solutions<\/p>\n\n            <div class=\"filter-contact-contact-details\">\n                <div class=\"filter-contact-details-icons\">\n                                            <span class=\"filter-contact-contact-item contact-email\">\n                            <a href=\"mailto:Conor.OCallaghan@alterdomus.com\" target=\"_blank\">\n                                <img decoding=\"async\" alt=\"Contact by email\" src=\"https:\/\/alterdomus.com\/wp-content\/themes\/alter-domus-twentyfive-v2.1.0\/assets\/images\/mail2.svg\">\n                            <\/a>\n                        <\/span>\n                    \n                                            <span class=\"filter-contact-contact-item contact-phone\">\n                            <a href=\"tel:353860334142\" target=\"_blank\">\n                                <img decoding=\"async\" alt=\"Contact by phone\" src=\"https:\/\/alterdomus.com\/wp-content\/themes\/alter-domus-twentyfive-v2.1.0\/assets\/images\/phone2.svg\">\n                            <\/a>\n                        <\/span>\n                    \n                                            <span class=\"filter-contact-contact-item contact-linkedin\">\n                            <a href=\"https:\/\/www.linkedin.com\/in\/conor-o-callaghan-cfa-660bb117\/?originalSubdomain=ie\" target=\"_blank\">\n                                <img decoding=\"async\" alt=\"Contact by LinkedIn\" src=\"https:\/\/alterdomus.com\/wp-content\/themes\/alter-domus-twentyfive-v2.1.0\/assets\/images\/linkedin2.svg\">\n                            <\/a>\n                        <\/span>\n                                    <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n<\/div>    \n    <\/div>\n<\/div>\n<\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-filter-blocks-section\"><div class=\"filter-section\"><div class=\"filter-section--inner\">\n<h2 class=\"wp-block-heading has-huge-font-size\" id=\"h-insights\" style=\"margin-bottom:var(--wp--preset--spacing--xl)\">Insights<\/h2>\n\n\n  \n<div class=\"filter-latest-insights-container filter-block-wrapper test\" style=\"\">\n    <div class=\"filter-latest-insights-list-inner order-news-event-news\">\n\n        <article class=\"filter-single-insight-item\">\n  <div class=\"filter-single-insight-item-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"652\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-1024x652.jpg\" class=\"attachment-large size-large\" alt=\"technology man holding iPad showing data scaled\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-1024x652.jpg 1024w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-300x191.jpg 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-768x489.jpg 768w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-1536x979.jpg 1536w, https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/Technology-man-holding-ipad-showing-data-2048x1305.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n  <div class=\"filter-single-insight-item-inner\">\n    <div class=\"filter-primary-post-term\"> Analysis<span class=\"dot\"><\/span>November 26, 2025 <\/div>\n    <h4 class=\"filter-single-insight-item-title\">Operational equity, powered by technology<\/h4>\n    <div class=\"filter-single-insight-item-link wp-block-buttons is-layout-flex\">\n      <div class=\"wp-block-button is-style-arrow\"> <a href=\"https:\/\/alterdomus.com\/insight\/operational-equity-powered-by-technology\/\" class=\"wp-block-button__link has-filter-secondary-color has-text-color wp-element-button\">Read article<\/a> <\/div>\n    <\/div>\n    <a class=\"stretched-link\" href=\"https:\/\/alterdomus.com\/insight\/operational-equity-powered-by-technology\/\" aria-label=\"Click to read Operational equity, powered by technology\"><\/a> <\/div>\n<\/article>\n<article class=\"filter-single-insight-item\">\n  <div class=\"filter-single-insight-item-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"615\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/08\/Corporate-Image-3-1024x615.png\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/08\/Corporate-Image-3-1024x615.png 1024w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/08\/Corporate-Image-3-300x180.png 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/08\/Corporate-Image-3-768x461.png 768w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/08\/Corporate-Image-3.png 1386w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n  <div class=\"filter-single-insight-item-inner\">\n    <div class=\"filter-primary-post-term\"> Analysis<span class=\"dot\"><\/span>November 24, 2025 <\/div>\n    <h4 class=\"filter-single-insight-item-title\">Illiquid, Not Inaccessible: How Fund Operations are Catching Up with Investor Demand<\/h4>\n    <div class=\"filter-single-insight-item-link wp-block-buttons is-layout-flex\">\n      <div class=\"wp-block-button is-style-arrow\"> <a href=\"https:\/\/alterdomus.com\/insight\/illiquid-not-inaccessible-how-fund-operations-are-catching-up-with-investor-demand\/\" class=\"wp-block-button__link has-filter-secondary-color has-text-color wp-element-button\">Read article<\/a> <\/div>\n    <\/div>\n    <a class=\"stretched-link\" href=\"https:\/\/alterdomus.com\/insight\/illiquid-not-inaccessible-how-fund-operations-are-catching-up-with-investor-demand\/\" aria-label=\"Click to read Illiquid, Not Inaccessible: How Fund Operations are Catching Up with Investor Demand\"><\/a> <\/div>\n<\/article>\n<article class=\"filter-single-insight-item\">\n  <div class=\"filter-single-insight-item-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-1024x683.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-1024x683.jpg 1024w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-300x200.jpg 300w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-768x512.jpg 768w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-1536x1024.jpg 1536w, https:\/\/alterdomus.com\/wp-content\/uploads\/2025\/09\/AD-colourMod-shutterstock_2507183429-2048x1366.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n  <div class=\"filter-single-insight-item-inner\">\n    <div class=\"filter-primary-post-term\"> Analysis<span class=\"dot\"><\/span>November 6, 2025 <\/div>\n    <h4 class=\"filter-single-insight-item-title\">Bridging the ABOR\/IBOR Gap: \nWhat Endowments and Foundations Operations Leaders Really Need<\/h4>\n    <div class=\"filter-single-insight-item-link wp-block-buttons is-layout-flex\">\n      <div class=\"wp-block-button is-style-arrow\"> <a href=\"https:\/\/alterdomus.com\/insight\/bridging-the-abor-ibor-gap-what-endowments-and-foundations-operations-leaders-really-need\/\" class=\"wp-block-button__link has-filter-secondary-color has-text-color wp-element-button\">Read article<\/a> <\/div>\n    <\/div>\n    <a class=\"stretched-link\" href=\"https:\/\/alterdomus.com\/insight\/bridging-the-abor-ibor-gap-what-endowments-and-foundations-operations-leaders-really-need\/\" aria-label=\"Click to read Bridging the ABOR\/IBOR Gap: \nWhat Endowments and Foundations Operations Leaders Really Need\"><\/a> <\/div>\n<\/article>\n            <\/div>\n<\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.<\/p>\n","protected":false},"featured_media":1559,"template":"","cat-insight-type":[19],"cat-sectors":[11,12,13],"cat-services":[],"class_list":["post-3289","insights","type-insights","status-publish","has-post-thumbnail","hentry","cat-insight-type-news","cat-sectors-private-debt","cat-sectors-private-equity","cat-sectors-real-assets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pre-marketing: A compelling solution to capital raising in the EU<\/title>\n<meta name=\"description\" content=\"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU\" \/>\n<meta property=\"og:description\" content=\"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/\" \/>\n<meta property=\"og:site_name\" content=\"Alter Domus\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-08T15:20:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/\",\"url\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/\",\"name\":\"Pre-marketing: A compelling solution to capital raising in the EU\",\"isPartOf\":{\"@id\":\"https:\/\/alterdomus.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg\",\"datePublished\":\"2023-11-17T09:39:52+00:00\",\"dateModified\":\"2024-07-08T15:20:44+00:00\",\"description\":\"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.\",\"breadcrumb\":{\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage\",\"url\":\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg\",\"contentUrl\":\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Low angle view of futuristic modern architecture, Skyscraper of corporate office building, Curve shape, 3D rendering.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/alterdomus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/alterdomus.com\/#website\",\"url\":\"https:\/\/alterdomus.com\/\",\"name\":\"Alter Domus\",\"description\":\"Integrated solutions for the alternative investment industry\",\"publisher\":{\"@id\":\"https:\/\/alterdomus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/alterdomus.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/alterdomus.com\/#organization\",\"name\":\"Alter Domus\",\"url\":\"https:\/\/alterdomus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/alterdomus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/08\/Logo.svg\",\"contentUrl\":\"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/08\/Logo.svg\",\"width\":204,\"height\":29,\"caption\":\"Alter Domus\"},\"image\":{\"@id\":\"https:\/\/alterdomus.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/alterdomus\/\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Pre-marketing: A compelling solution to capital raising in the EU","description":"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/","og_locale":"en_US","og_type":"article","og_title":"Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU","og_description":"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.","og_url":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/","og_site_name":"Alter Domus","article_modified_time":"2024-07-08T15:20:44+00:00","og_image":[{"width":2560,"height":1707,"url":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/","url":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/","name":"Pre-marketing: A compelling solution to capital raising in the EU","isPartOf":{"@id":"https:\/\/alterdomus.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage"},"image":{"@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage"},"thumbnailUrl":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg","datePublished":"2023-11-17T09:39:52+00:00","dateModified":"2024-07-08T15:20:44+00:00","description":"Non-EU fund managers are explore pre-marketing with along with regulatory changes such as ELTIF 2.0 and the democratization of private funds.","breadcrumb":{"@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#primaryimage","url":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg","contentUrl":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg","width":2560,"height":1707,"caption":"Low angle view of futuristic modern architecture, Skyscraper of corporate office building, Curve shape, 3D rendering."},{"@type":"BreadcrumbList","@id":"https:\/\/alterdomus.com\/insight\/pre-marketing-a-compelling-solution-to-capital-raising-in-the-eu\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alterdomus.com\/"},{"@type":"ListItem","position":2,"name":"Testing the market: Pre-marketing \u2013 a compelling solution to capital raising in the EU"}]},{"@type":"WebSite","@id":"https:\/\/alterdomus.com\/#website","url":"https:\/\/alterdomus.com\/","name":"Alter Domus","description":"Integrated solutions for the alternative investment industry","publisher":{"@id":"https:\/\/alterdomus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alterdomus.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/alterdomus.com\/#organization","name":"Alter Domus","url":"https:\/\/alterdomus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/alterdomus.com\/#\/schema\/logo\/image\/","url":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/08\/Logo.svg","contentUrl":"https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/08\/Logo.svg","width":204,"height":29,"caption":"Alter Domus"},"image":{"@id":"https:\/\/alterdomus.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/alterdomus\/"]}]}},"tpgb_featured_images":{"full":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg",2560,1707,false],"tp-image-grid":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-scaled.jpg",700,467,false],"thumbnail":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-150x150.jpg",150,150,true],"medium":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-300x200.jpg",300,200,true],"medium_large":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-768x512.jpg",768,512,true],"large":["https:\/\/alterdomus.com\/wp-content\/uploads\/2023\/09\/architecture-modern-curves-1024x683.jpg",1024,683,true],"default":"https:\/\/alterdomus.com\/wp-content\/plugins\/the-plus-addons-for-block-editor\/assets\/images\/tpgb-placeholder.jpg"},"tpgb_post_meta_info":{"get_date":"17 November 2023","get_modified_date":"8 July 2024","category_list":{"cat-insight-type":[{"term_id":19,"name":"News","slug":"news","term_group":0,"term_taxonomy_id":19,"taxonomy":"cat-insight-type","description":"","parent":0,"count":78,"filter":"raw"}],"cat-sectors":[{"term_id":11,"name":"Private Debt","slug":"private-debt","term_group":0,"term_taxonomy_id":11,"taxonomy":"cat-sectors","description":"","parent":0,"count":126,"filter":"raw"},{"term_id":12,"name":"Private Equity","slug":"private-equity","term_group":0,"term_taxonomy_id":12,"taxonomy":"cat-sectors","description":"","parent":0,"count":131,"filter":"raw"},{"term_id":13,"name":"Real Assets","slug":"real-assets","term_group":0,"term_taxonomy_id":13,"taxonomy":"cat-sectors","description":"","parent":0,"count":89,"filter":"raw"}],"cat-services":false},"comment_count":0,"post_likes":0,"post_views":0},"tpgb_post_category":{"cat-insight-type":"<a href=\"https:\/\/alterdomus.com\/cat-insight-type\/news\/\" alt=\"News\" class=\"cat-insight-type-news\">News<\/a> ","cat-sectors":"<a href=\"https:\/\/alterdomus.com\/cat-sectors\/private-debt\/\" alt=\"Private Debt\" class=\"cat-sectors-private-debt\">Private Debt<\/a> <a href=\"https:\/\/alterdomus.com\/cat-sectors\/private-equity\/\" alt=\"Private Equity\" class=\"cat-sectors-private-equity\">Private Equity<\/a> <a href=\"https:\/\/alterdomus.com\/cat-sectors\/real-assets\/\" alt=\"Real Assets\" class=\"cat-sectors-real-assets\">Real Assets<\/a> "},"_links":{"self":[{"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/insights\/3289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/insights"}],"about":[{"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/types\/insights"}],"version-history":[{"count":0,"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/insights\/3289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/media\/1559"}],"wp:attachment":[{"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/media?parent=3289"}],"wp:term":[{"taxonomy":"cat-insight-type","embeddable":true,"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/cat-insight-type?post=3289"},{"taxonomy":"cat-sectors","embeddable":true,"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/cat-sectors?post=3289"},{"taxonomy":"cat-services","embeddable":true,"href":"https:\/\/alterdomus.com\/wp-json\/wp\/v2\/cat-services?post=3289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}