Marketing Fund Interests: Marketing Exemptions Exist for Sponsors of Closed-End Private Equity Real Estate Funds Raising Capital in Singapore
Fund sponsors seeking to market their funds internationally — and accept subscriptions from investors in multiple jurisdictions — face an array of complex laws. This article explores the applicable exemptions a fund sponsor of a closed-end private equity real estate fund can expect to rely on in Singapore.
The marketing and sale of interests in closed-end private equity real estate funds to the public in Singapore are subject to regulation under Chapter 289 of the Securities and Futures Act (SFA) of the Republic of Singapore. The Monetary Authority of Singapore (MAS) is responsible for the administration and enforcement of the SFA and its related rules and regulations. The marketing and sale of interests in closed-end funds to the public in Singapore would be subject to the disclosure and prospectus registration requirements unless it falls within one of the prescribed exemptions: Offers made to “institutional investors” and “relevant persons” and offers made in r