On 20 April 2015, the Council of the EU announced that it adopted the Regulation on European Long-Term Investment Funds (theELTIF Regulation). ELTIFs are vehicles designed to boost non-bank investment in the real economy across the EU. ELTIFs will facilitate professional and retail investors investing into companies and projects that need long-term capital. Long-term capital finances tangible assets (such as energy, transport, communication infrastructures, industrial and service facilities, housing and climate change technologies), as well as intangible assets (such as education and research and development). The ELTIF Regulation lays down uniform rules on the authorisation, investment policies, and operating conditions of EU AIFs that are marketed as ELTIFs. Only EU alternative investment funds (AIFs) that are managed by alternative investment fund managers (AIFMs), authorised in accordance with AIFMD, will be eligible to market themselves as ELTIFs. The ELTIF Regulation will enter into force 20 days after it is published in the OJ and is expected to apply six months after it has entered into force.