VAM Investments Group S.p.a.

Promotion, fundraising and management of investment vehicles

VAM Investments Group S.p.A., as Investment Advisor to alternative investment funds structured in Luxembourg (or in other jurisdictions), carries out promotion, capital raising (fundraising) and advisory activities for the management of investment vehicles. In particular, it: (i) identifies and contacts potential institutional investors, including through placement agents; (ii) prepares and shares marketing materials (PPM, presentations, virtual data room); (iii) supports the investors' due diligence and subscription process; (iv) works with the AIFM, the depositary bank, the central administration agent and the fund's other service providers in the day-to-day management of the investor base; (v) supports the KYC/AML activities coordinated by the AIFM and the Depositary. The processing covers the entire life cycle of the relationship with the fund's investor, from the prospect stage to post-subscription management.

Why we process the data and on what legal basis

Promotion and capital raising for investment vehicles that are managed or advised.Legal basis: Performance of a contract (or pre-contractual measures) (Art. 6(1)(b) GDPR); Legitimate interest of the controller (Art. 6(1)(f) GDPR)
Performance of the Investment Advisory mandate on behalf of the fund's AIFM.Legal basis: Performance of a contract (or pre-contractual measures) (Art. 6(1)(b) GDPR); Legitimate interest of the controller (Art. 6(1)(f) GDPR)
Managing relationships with the fund's investors and with the related service providers.Legal basis: Performance of a contract (or pre-contractual measures) (Art. 6(1)(b) GDPR); Legitimate interest of the controller (Art. 6(1)(f) GDPR)
Preparing marketing documents and managing the data room.Legal basis: Performance of a contract (or pre-contractual measures) (Art. 6(1)(b) GDPR); Legitimate interest of the controller (Art. 6(1)(f) GDPR)
Support for due diligence and for the investors' subscription process.Legal basis: Performance of a contract (or pre-contractual measures) (Art. 6(1)(b) GDPR); Legitimate interest of the controller (Art. 6(1)(f) GDPR)

The contractual legal basis (Art. 6(1)(b) GDPR) applies to the processing of the data of investors who subscribe to the fund and to relationships with the fund's service providers, in performance of the Investment Advisory Agreement and the Subscription Agreement. Legitimate interest (Art. 6(1)(f) GDPR) applies to the promotion and fundraising stage, in which VAM contacts potential investors and shares their contact data with the placement agent and in the data room. VAM's legitimate interest in promoting its funds is balanced by the reasonable expectation of professional institutional investors to be contacted in this context.

Categories of data subjects

Potential and actual investors in the fund (natural persons)
Directors, legal representatives, attorneys and authorised signatories of investors that are legal persons
Beneficial owners (UBOs) of investors that are legal persons under anti-money laundering legislation
Contact persons and employees of the fund's service providers

Data subjects requiring greater protection: B2B customers and/or suppliers

Categories of personal data

Identification and contact data (first name, surname, email, telephone, address)
Copy of identity documents
Tax code and foreign tax identifiers
KYC/AML information (source of funds, source of wealth, PEP status)
Data relating to the commitment and the subscription
Bank details
Corporate offices and ownership structure (for investors that are legal persons)
Correspondence and minutes of meetings
Documents shared through the data room

Categories of recipients

Referencing and fundraising advisers
AIFM of the fund (manager authorised under the AIFMD)
Lawyers
Depositary bank and central administration agent of the fund
Banks
Virtual data room provider
Placement agent
Auditors of the fund
Law firms engaged to structure the fund

Processors

Attio Ltd. (Software services)
Microsoft Ireland Ltd. (Software services)
Datasite UK Ltd. (Virtual data room (Datasite Acquire))

Transfers to third countries

Some personal data are transferred to countries outside the European Economic Area (EEA). Below you will find, for each transfer, the party involved, the destination country and the safeguard that makes it lawful:

Microsoft Ireland Ltd. (Software services) — United States (safeguard: EU-US Data Privacy Framework)
Datasite UK Ltd. (Virtual data room (Datasite Acquire)) — United States (safeguard: EU-US Data Privacy Framework)

Transfers to the United Kingdom are legitimised by the adequacy decision of the European Commission. Transfers to the United States are legitimised by certification under the EU-US Data Privacy Framework (DPF) and by standard contractual clauses (SCCs) approved by the European Commission pursuant to Art. 46 GDPR.

Retention period

The data of the fund's investors are retained for the entire life of the fund and for the 10 years following its liquidation, in accordance with civil-law obligations (Art. 2220 of the Italian Civil Code) and anti-money laundering obligations (Art. 31 D.Lgs. 231/2007). The data of prospects who do not subscribe are retained for 5 years from the last significant contact.

Consequences of not providing the data

Providing the data is necessary for the investor's participation in the fund. Without the data requested, VAM cannot carry out the Investment Advisory activity and the investor cannot be admitted to the fund. For processing based on legitimate interest (promotion and capital raising, performance of the Investment Advisory mandate, management of relationships with investors, preparation of marketing documents and of the data room, support for subscription), you may object within the limits of Art. 21 GDPR, unless compelling legitimate grounds of the controller prevail or the processing is necessary for the establishment, exercise or defence of legal claims; you may object to promotional activities at any time, without having to give reasons.