Legal entities established in the Republic who wish to operate as AIF managers and:

a. manage portfolios of AIFs whose assets under management, including any assets acquired through use of leverage, in total do not exceed a threshold of EUR 100 million

or,

b.manage portfolios of AIFs whose assets under management in total do not exceed a threshold of EUR 500 million when the portfolios of AIFs consist of AIFs that are unleveraged and have no redemption rights exercisable during a period of 5 years following the date of initial investment in each AIF.

Legal entities authorised in another member state for the investment management of AIFs who:

a. manage portfolios of AIFs whose assets under management, including any assets acquired through use of leverage, in total do not exceed a threshold of EUR 100 million

or,

b. manage portfolios of AIFs whose assets under management in total do not exceed a threshold of EUR 500 million when the portfolios of AIFs consist of AIFs that are unleveraged and have no redemption rights exercisable during a period of 5 years following the date of initial investment in each AIF.

CIFs authorised by the Cyprus Securities and Exchange Commission for the performance of AIF management functions under article 5 (5) (b) of the Investment Services and Activities and Regulated Markets Law.

Small AIFMs of the Republic and CIFs may be appointed as external managers for the following AIFs:

– AIF established and operating in the Republic

– AIF established and operating in a member state other than the Republic or in a third country, if permitted by the legislation governing the AIF

– Alternative Investment Funds with Limited Number of Persons

– RAIF (provided it meets certain requirements)

Small AIFMs of member states may be appointed as external managers for the following AIFs governed by a legislation of the Republic:

– AIFs established and operating in the Republic

– Alternative Investment Funds with Limited Number of Persons

– RAIF (provided it meets certain requirements)