Accredited investor eligibility
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Rescope remaining LP-specific claims (accredited-investor-eligibility.md's NI 45-106 scope, direct-hold-framework.md's general-partner mention, perpetual-equity-model.md's Take Over Bid mechanism, principal-alignment-fee-preservation.md's offering-cost-reimbursement/no-NAV-fee clauses) to Canada/US explicitly; convert 6 dangling plain-text 'Interest Coverage Ratio' references to proper wikilinks pointing at cre-financial-metrics.md across ifrs-forecast-methodology and sensitivity-and-stress-test-methodology (EN+ES)
@@ -7,7 +7,7 @@ index_group: eligibility-and-distribution-channels type: topic content_type: topic quality: complete short_description: "The accredited investor exemption under NI 45-106 as a distribution channel for direct-hold limited partnership units alongside the prospectus offering: who qualifies, what the exemption permits, and the disclosure documentation required at the time of subscription." short_description: "The accredited investor exemption under NI 45-106 as a distribution channel for units in the Canada and United States direct-hold limited partnerships alongside the prospectus offering: who qualifies, what the exemption permits, and the disclosure documentation required at the time of subscription." status: active bcsc_class: public-disclosure-safe language_protocol: PROSE-TOPIC @@ -16,9 +16,14 @@ editor: woodfine-editorial paired_with: accredited-investor-eligibility.es.md --- Limited partnership units in a direct-hold solution are distributed through two channels: a prospectus offering during the prospectus marketing period, which qualifies each LP as a [[regulated-reporting-entity|reporting issuer]] under applicable Canadian securities legislation; and the accredited This article describes a Canadian securities-law exemption; it applies to the Canada and United States direct-hold solutions, which are structured as limited partnerships. The Spain SOCIMI and Mexico FIBRA distribute their securities under their own jurisdictions' exemption regimes, described in [[exemptions|Exemptions]], not National Instrument 45-106. Limited partnership units in an LP-form direct-hold solution are distributed through two channels: a prospectus offering during the prospectus marketing period, which qualifies each LP as a [[regulated-reporting-entity|reporting issuer]] under applicable Canadian securities legislation; and the accredited investor exemption under National Instrument 45-106 *Prospectus Exemptions*, available to institutional and high-net-worth investors. The accredited investor exemption permits the sale of LP units to qualifying investors outside the prospectus marketing period, without