Qualified Investment Buyer (QIB)

An investor permitted to purchase securities not offered to the public, with emphasis on instruments offered under regulation 144a in the United States. QIBs include insurance companies; licensed small business investment companies; public or private employee benefit plans; business development companies; most corporations, business trusts, partnerships or charitable organizations; registered investment advisors; dealers acting for their own account or for the accounts of other QIBs (that in the aggregate own and invest on a discretionary basis at least $10 million of securities not affiliated with the dealer); banks or savings and loan associations with an audited net worth of at least $25 million; and registered investment companies that are part of a family of investment companies (which own in the aggregate at least $100 million in securities).

Glossary * Q