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II - Investment Products

II. 1 - Collective Investments

II. 1.3. Specific Provisions for AIFs

II. 1.3.3. Specific Provisions for Funds Open to Professional Investors

Doctrine
UCITS

Declaration Procedures, Modifications, Prospectus Preparation, and Periodic Information for Specialized Professional Funds, Professional Private Equity Funds, and Specialized Financing Entities

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Applicable as of November 27, 2025
Instruction DOC-2012-06

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Summary
Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

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Reference Texts

• Article 421-38 of the AMF General Regulation
• Articles 423-16 et seq. of the AMF General Regulation
• Articles 423-37 et seq. of the AMF General Regulation
• Article 425-A of the AMF General Regulation
• Article 425-A-1 of the AMF General Regulation
• Articles 425-19 et seq. of the AMF General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds and specialized financing entities
• Annexes of Instruction AMF DOC-2012-06 relating to Money Market AIFs
• Report on compensation and cases of non-compliance with investment restrictions - forms and declarations

Archives

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds and specialized financing entities
• Annexes of Instruction AMF DOC-2012-06 relating to Money Market AIFs
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds and specialized financing entities
• Annexes of Instruction AMF DOC-2012-06 relating to Money Market AIFs
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 421-38 and 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Collection of annual situations of professional private equity funds
• Report on compensation and cases of non-compliance with investment restrictions

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Collection of annual situations of professional private equity funds

Specialized professional funds, specialized financing entities, and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 et seq., 423-37 et seq., 425-A, 425-A-1, and 425-19 et seq. of the General Regulation
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds
• Collection of annual situations of professional private equity funds

The AIFs declared open to professional investors, namely specialized professional funds and professional private equity funds, are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription. This document has not been updated regarding the texts transposing MiFID II and separating the legal regime of investment firms and portfolio management companies. This update will be carried out shortly.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 to 432-53 of the AMF General Regulation
• Collection of annual situations of professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds

The AIFs declared open to professional investors, namely specialized professional funds and professional private equity funds, are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 to 423-53 of the General Regulation
• Collection of annual situations of professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds

The AIFs declared open to professional investors, namely specialized professional funds and professional private equity funds, are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 to 423-53 of the General Regulation
• Collection of annual situations of professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds

The AIFs declared open to professional investors, namely specialized professional funds and professional private equity funds, are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information. Instruction DOC-2012-06 also provides clarifications regarding the transitional provisions applicable to certain funds closed to subscription.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 to 423-53 of the General Regulation
• Collection of annual situations of professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to professional private equity funds
• Annexes of Instruction AMF DOC-2012-06 relating to specialized professional funds

The AIFs declared open to professional investors such as specialized professional funds and professional private equity funds are subject to specific rules regarding, in particular, declaration procedures (creation and modifications during the fund's life), information procedures for holders and shareholders during modifications during the fund's life, the preparation of a prospectus, and periodic information.

[Download the doctrine]

[Download the full overview of the doctrine]

Reference Texts

• Articles 423-16 to 423-53 of the General Regulation
• Annexes I-1 to VII of Instruction AMF DOC-2012-06
• Collection of annual situations of professional private equity funds: Annex VIII of Instruction AMF DOC-2012-06

Keywords

• Prospectus
• Collective Investments

Legal Notices:
Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Autorité des marchés financiers - 17, place de la Bourse - 75082 Paris Cedex 02