6 Monks (6M) has made history as the first authorized alternative investment fund manager in Luxembourg to offer specialized services for third-party funds focused on private equity, Web3, and crypto-assets, the firm announced on Tuesday, April 9th.
Luxembourg-based 6 Monks has secured authorization as an alternative investment fund manager to cater to third-party funds interested in private equity, Web3, and crypto-assets investment opportunities. Through regulated investment vehicles under the European passport scheme, the firm positions itself as a key player bridging traditional financial practices with the emerging Web3 ecosystem and crypto-assets market.
Julien Wolff, Head of Risk Management at 6 Monks, highlighted the firm’s confidence in crypto-assets as a burgeoning asset class, pointing to Luxembourg’s attractiveness for launching crypto funds owing to its robust financial infrastructure.
Regulatory advancements, notably the markets in crypto-assets regulation (Mica), have been instrumental in enabling 6 Monks to address the escalating demand from fund promoters. These regulatory developments have established a framework for fund managers like 6 Monks to operate within regulated vehicles, facilitating Europe-wide distribution strategies tailored to professional investors.
Initially obtaining the “registered AIFM” license in September 2021 from the Luxembourg Financial Sector Supervisory Commission (CSSF), 6 Monks achieved the full “authorized AIFM” license on March 19, 2024. This authorization empowers 6 Monks to provide comprehensive services encompassing portfolio management, fund administration, and regulatory compliance.
According to information provided to Delano, Dair Capital is the inaugural third-party fund promoter to entrust the management of its funds to 6 Monks as an AIFM. Dair Capital intends to assign three Luxembourg regulated funds to 6 Monks, exclusively catering to professional and institutional investors, with a total targeted size of approximately $500 million.