Fund database › Private Equity
CarmignacLU3267163833Class A EUR Acc
Carmignac's first ELTIF, launched in 2026: European mid-market private equity through primaries, co-investments and fund-of-funds building blocks, designed as an ELTIF 2.0 for all investor groups, accumulating.
Monthly subscription; quarterly redemption; the per-date limit is defined twice over — against fund assets and against the liquid portfolio share. The initial lock-up of three months is short and has since expired; early redemptions can trigger exit costs.
No formal minimum investment and, as an ELTIF, open to retail and professional investors alike, recommended holding period five years; registered for distribution in a dozen countries, including Germany.
The most accessible route into Carmignac's private-markets platform — young and still concentrated in its portfolio, but with a combination of no entry hurdle and a short lock-up that is rare in the ELTIF field.
Figures for class A EUR Acc (LU3267163833) · product data 25 Sep 2026 · sources: prospectus (as at main section 31 Mar 2026, Supplement ELTIF Evergreen 26 Jan 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Mar 2026, the unit price has gained 12.5% (cumulative, 0.4 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
7 monthly values, 3 derived from monthly returns · Source: secondary source (data portal), price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results.
What the prospectus permits: Focus on secondary market co-investments (48.2% NAV), supplemented by direct co-investments (15.8%) and primary/secondary target funds (3.6%); focus on mid-market buyouts, selectively Growth
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
4 holdings; the largest are AlliA (Project Lupo, with Apheon). 33.3% is held in the liquidity reserve — enough for 20 months of maximum redemptions.
How the reserve is invested: Liquid Sleeve (net cash available) 33.3%. It covers 20 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Among the largest positions: 1 co-investment.
AlliA is one of the largest independent insurance brokerage groups in the Benelux region, focused on Belgium, and grows by acquiring regional brokerages.
Positions and shares according to the provider; weights of the holdings are not reported; short descriptions by semiliquid.info from public sources; holdings as at 30 Jun 2026, reserve as at 31 Jul 2026; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.59%, class A EUR Acc is close to the median of the asset class (2.60%). On top comes a performance fee of 15% above a hurdle of 5% — with a high-water mark.
For 10,000 EUR this means roughly 259 EUR per year.
For 10,000 EUR, a one-off up to 400 EUR on purchase and up to 500 EUR on redemption.
Based on the PRIIPs key information document of class A EUR Acc, hence comparable across providers. Median: 35 Private Equity funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 5 business days later.
account opening with the administrator completed in full before the cut-off
The Board of Directors may accept subscription requests received after the cut-off at its …
Price = NAV per share on this day.
Valuation day last business day of the month; calculation by the administrator within 5 …
after NAV publication: 7 business days after dealing day
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | last business day of the month |
| Cut-off | 1 business day before month-end · 16:00 CET · (before the anchor date) |
| Price | valuation day |
| NAV publication | Valuation day last business day of the month; calculation by the administrator within 5 business days; publication on carmignac.com without a set deadline |
| Payment | after NAV publication: 7 business days after dealing day |
| Minimum investment | none |
| Entry charge (max.) | 4% (distributor) |
| Subscription limit | The Board may limit subscriptions, including where the size of the fund makes suitable investments more difficult to source |
| KYC / documents | account opening with the administrator completed in full before the cut-off |
| Revocation | Retail: cancellation within 2 weeks of submission of the subscription request to the intermediary |
| Business day | banks open for business in Luxembourg, except as otherwise defined in the relevant Sub-Fund Supplement (p. 12); Supplement does not define a diverging |
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 3 months. How quickly the money arrives and what happens if many want out at once is set out below.
Cut-off last business day of the previous quarter 16:00 CET, effectively one quarter's lead time.
NAV per unit less redemption fee (up to 5%)
Once the three-month lock-up has expired, redemption requests are satisfied only to the extent that the total …
redemption day
A request made today is paid out on — — — days.
Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.
Money typically within half a year — on average 147 days from decision to cash.
Rank 94 of 112 · rank 33 of 38 in Private Equity · no lock-up · exit costs of 5.0% included
Money typically within half a year — on average 147 days from decision to cash.
no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 31 Mar 2026 · score run 16 Oct 2026 · How 147 days become 5 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 16:00 CET · (counted from month-end) |
| Price | quarter-end |
| Payout | 7 business days after redemption day |
| Gate | 5% of NAV on the redemption day per redemption day; max. 33% of the Liquid Sleeve (UCITS-eligible assets plus projected 12M cash flow), ELTIF RTS Annex 1 Option 1 |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 5% (18 months, cliff (lapses after the period)) |
| Lock-up | fund-level, 3 months (the first NAV) |
| Suspension | market/price sources unavailable, transfer/repatriation restrictions, force majeure |
| Liquidity tools | Redemption gate with a liquid sleeve cap, suspension of the NAV calculation, redemption in kind under Art. 18(5) ELTIF Regulation |
| Switch / transfer | permitted with the consent of the Board, the Transferee must be an Eligible Investor and not a Prohibited Person |
| Compulsory redemption | in the event of default, loss of Eligible Investor status or a Prohibited Person; in addition compulsory redemption of all investors following disposal of all … |
Once the three-month lock-up has expired, redemption requests are satisfied only to the extent that the total NAV of the units redeemed on the relevant redemption date exceeds neither 5% of the sub-fund's NAV on the valuation day nor 33% of the Liquid Sleeve (Liquid Sleeve = UCITS-eligible assets plus prudently estimated cash flows of the next twelve months, option 1 of Annex 1 to the ELTIF RTS).
The gate has two conditions which apply cumulatively: the aggregate NAV of the shares redeemed may exceed neither 5% of the NAV of the sub-fund on the valuation day nor 33% of the Liquid Sleeve. The Liquid Sleeve is the sum of the UCITS-eligible assets at the redemption date and the prudently estimated cash flows of the next twelve months (option 1 of Annex 1 to the ELTIF RTS).
Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
5 classes. All cost and risk figures on this page refer to the basis class A EUR Acc.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 9 Mar 2026 | — |
| Factsheet / monthly report | 30 Jun 2026 | — |
| NAV series secondary source (data portal), price feed / provider document | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 30 Jun 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, with 5% gate per redemption day. Subscribing today, it takes on average 147 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 2.59% p.a. according to the PRIIPs KID for class A EUR Acc; the median of the Private Equity funds in this database is 2.60%; plus a performance fee of 15%.
The prospectus sets no minimum investment.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Carmignac ELTIF Evergreen. Under the prospectus a gate of 5% per redemption day applies.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.