An Alternative Investment Company (ASI) is one of the forms of an alternative investment fund. It is not a separate institution or legal structure. An ASI may operate under various legal forms, such as a limited liability company, limited partnership, or joint-stock limited partnership.
Scope of ASI Activity
An ASI is a form of alternative investment fund and may be structured as either a capital company or a partnership. This includes limited liability companies, limited partnerships, joint-stock limited partnerships, or even European companies. Formally speaking, an ASI is not a distinct legal form — its operations are based on the general principles governing companies. However, its scope of activity is strictly defined by law.
According to the legislation, the sole purpose of an ASI is to collect assets from multiple investors and invest them in their interest, in accordance with a defined investment policy.
This is precisely stated in Article 8a(3) of the Act:
“The sole purpose of an Alternative Investment Company, subject to exceptions provided by law, is to collect assets from multiple investors in order to invest them in the interest of those investors in accordance with a defined investment policy.”
Business Limitations
Establishing and operating an ASI does not permit conducting business in the traditional sense. The Act allows only limited exceptions for activities beyond investment operations, and only when such activities are justified by specific legal provisions.
