The Autorité des Marchés Financiers (AMF) revoked the authorisation of alternative investment fund manager (AIFM) APICAP
Taking into account the situation of APICAP, the AMF Board decided to withdraw its authorisation as an AIFM.
On 4 July 2025, the AMF Board found that APICAP, which managed several alternative investment funds (AIFs), no longer complied with the conditions of its authorisation. Pursuant to Article L. 532-10 of the French Monetary and Financial Code, the AMF Board therefore decided to withdraw its authorisation as an alternative investment fund manager. This withdrawal of authorisation will take effect on the date on which one or more management companies or managers duly authorised to manage this type of AIFs have been appointed as managers of the AIFs, or failing that, on the date on which the AIFs have been liquidated, and no later than 31 December 2025, unless extended.
The company APICAP has also been placed in judicial liquidation without continuation of business by decision of the Paris Commercial Court dated 3 June 2025, also appointing Mr. Demortier as liquidator. The liquidator and the AMF are making every effort to ensure the transfer of the AIFs to other voluntary portfolio management companies or managers duly authorised to manage this type of AIF, under the best possible conditions.
The AMF has not appointed an administrator to supervise APICAP, due to its placement in judicial liquidation.
