German capital investment code: our consulting services for capital investments and their initiators


Examination of the applicability of the German capital investment code

At the start of the considerations for a concept, a basic question is whether the project is even subject to the German capital investment code. This is particularly valid for possible exceptions for operational companies, for example, with project development or a company-operated plant for the generation of electricity from renewable energy and also for unconventional companies such as, for example, forestry and agricultural operations financed by investors. In addition, in many cases it may be worthwhile investigating the possibility of a concept which is either partly or not at all subject to the regulations of the German capital investment code (asset investments). This is also valid for the existing structures and products of our clients.

Reinvestment of investment assets and in particular closed-end AIF/funds, with an effective product design

Rödl & Partner is familiar with numerous investment assets of different asset classes and also with many varied investor groups. We have experience with the concept design and successful implementation of projects in the areas of real estate and renewable energy with typical initiators and also with banks, project development companies, municipal authorities, cooperatives or international companies.

We understand that assistance with the initialisation and implementation of capital investments is a core element of an interdisciplinary consulting approach. An ideal product design must adequately take into account considerations regarding legal and supervisory regulations, tax regulations and also economic aspects. The combined legal and tax consulting in connection with our own services in the areas of management consulting and auditing ensure an individual and well-structured product.


Our services in particular include:

  • Preparation of well-structured funds, e.g. open public funds/AIF, special funds/AIF for semi professional or professional investors, offers which are exempt from the German capital investment code
  • Implementation according to the requirements of the German capital investment code and other regulations
  • Design of contracts specific to funds
  • Preparation of sales brochures and important investor information or other legally required sources of information
  • Preparation of business plans
  • Risk management consulting/liquidity management
  • Formulation of investment conditions
  • Structuring of internal fund instruments such as compensation arrangements or compliance tools
  • Preparation and examination of documents, in particular subscription certificates and also complementary documents, for example, required for the qualification of semi professional and professional investors and other sources of information
  • Assistance with the notification procedures required by the German capital investment code
  • Structuring of the new information and publication obligations
  • Ongoing enquiries from day-to-day sales operations


Assistance with proceedings instituted by the German federal financial supervisory authority, in particular regarding authorisation or registration of capital management companies

In the clarification of legal supervisory questions in relation to the German federal financial supervisory authority we assist you with a binding clarification of the applicability of the German capital investment code in the preliminary stages up to the submission of applications for approval or registration of capital management companies. Assistance with legal supervisory proceedings from day-to-day operations completes the range of our consulting services.

Further services in the area of capital investment law:



Contact Person Picture

Meike Farhan

Associate Partner

+49 40 22 92 97 – 5 33

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