01
National Private Placement Regime (NPPR)
Cross-border distribution of non-EU AIFs (e.g., Cayman, Delaware structures) to professional investors across the EEA under each host state's NPPR regime.
Governing regulation AIFMD Article 42
One onboarding. EEA-wide distribution. Regulatory infrastructure for private markets.
For placement agents, fund managers, and capital introducers distributing alternative investments across the EEA. Private debt, private equity, venture capital, pre-IPO — under one regulated perimeter, one onboarding, one compliance engine.
What this is
EEA-wide distribution of alternatives, under German securities supervision.
Concedus provides licensed infrastructure for distributing alternative investment products — private debt, private equity, venture capital, pre-IPO allocations — to professional and institutional investors across the EEA. Placement agents, fund managers, and capital introducers plug into Concedus once and gain access to markets that would otherwise require individual MiFID licenses, local entities, or bilateral distribution agreements. No local setups, no country-by-country regulatory negotiation, no custody or administration of assets — Concedus handles the cross-border compliance; you handle the fund relationship.
MiFID II passport · AIFMD Art. 42 · § 306b KAGBEEA distribution footprint
Licensed institution EEA markets
Distribution frameworks
Three frameworks. One regulated counterparty.
02
Pre-marketing under § 306b KAGB
Legally defined pre-marketing of non-EU AIFs to qualified investors — testing appetite, refining terms, qualifying prospects — without triggering full distribution obligations until the formal notification.
Governing regulation § 306b KAGB
03
MiFID II passport for securities
Distribution of EU-domiciled instruments (Luxembourg securitization vehicles, German funds, listed securities) via Concedus' MiFID II passport across the EEA.
Governing regulation § 2(2) No. 3 WpIG · MiFID II passport
In scope
Product types we can distribute.
Private debt funds
EU and non-EU structures, senior secured to direct lending strategies.
Private equity
Buyout, growth, venture capital, secondaries.
Pre-IPO allocations
Late-stage equity via structured feeders or direct secondaries.
Real asset funds
Infrastructure, real estate, natural resources, energy transition.
Hedge funds & liquid alts
UCITS-structured and AIF-structured.
Luxembourg securitization vehicles
CSSF-prospected bankable ISINs wrapping underlying alternative exposures.
Case study
Nemos Regulatory Solutions
Nemos Regulatory Solutions Concedus tied agent
Nemos Regulatory Solutions operates as a Concedus tied agent, providing fund managers, placement agents and capital introducers with a single regulatory entry point to Europe. No local entities, no additional licenses, no country-by-country regulatory setup required.
Nemos supports clients across the alternative investment landscape, from first-time fund managers and boutique placement teams to some of the world's largest asset management firms.
Onboarding
From first call to first active distribution.
- 01
Scoping call
Fund structure, target investors, jurisdictions, timeline.
~1 WEEK ON CALENDAR - 02
Fit assessment
Written assessment of distribution framework (NPPR vs. pre-marketing vs. MiFID passport) and commercial terms.
~1–2 WEEKS - 03
Documentation & regulatory notifications
Distribution agreement, pre-marketing notifications per jurisdiction, internal compliance setup.
~2–4 WEEKS - 04
First-fund distribution
Investor onboarding under Concedus KYC engine, fund subscription workflow, reporting.
~1–3 WEEKS POST-DOC
Total time from first call to first active distribution: typically 4–8 weeks. Subsequent funds from the same manager typically ready in 2–3 weeks.
Common questions
Private markets distribution — the usual questions
Do I need my own MiFID or AIFMD license to distribute through Concedus?
No. Concedus holds the MiFID II license; you operate as a tied agent under our Haftungsdach. For AIF distribution, Concedus handles pre-marketing notifications and NPPR registrations as needed in the target jurisdictions.
Can Concedus distribute non-EU funds (Delaware, Cayman)?
Yes. This is one of the most common use cases. Non-EU AIFs are distributed under the NPPR framework in each EEA host state where the regime permits, supplemented by pre-marketing under § 306b KAGB where applicable.
Which investor categories can we target?
Professional and institutional investors across the EEA. Retail distribution of alternatives is possible in specific product categories (e.g., ELTIF 2.0 wrappers) but is assessed case-by-case.
Does Concedus hold or administer fund assets?
No. Concedus handles regulated distribution only — pre-marketing, investor classification, subscription intake, KYC, and compliance. Custody and fund administration remain with the fund's depositary and administrator.
How is the commercial model structured?
A combination of a fixed regulatory retainer plus a distribution fee calculated as a percentage of placed commitments. Typical retainers start at €100k annually for enterprise engagements; distribution fees are scoped per fund. No hidden pass-through margins.
Can we continue using our existing data room, CRM, and investor onboarding UX?
Yes. Concedus integrates via API — you keep the investor-facing UX, Concedus handles the regulated steps behind it. For firms without an existing stack, we can provide a white-label investor workflow.
Start your distribution setup.
We'll map jurisdictions, fund structures, and commercials. Typical first call within two working days.