Qualified or institutional investors
Such investors include:
a) Regulated financial intermediaries such as banks, securities traders, fund management companies, and managers of collective investments
b) Regulated insurance institutions
c) Public-sector bodies and pension funds with a professional treasury department
d) Companies with a professional treasury department.
The “professional treasury” criterion is deemed satisfied if the investor has appointed at least one trained individual with financial-sector expertise to manage his funds on a permanent basis.