AIFMD Update – Impact On Fund Managers Outside The EU

Keywords: AIFMD, fund managers, European Union, AIFMU, alternative investment funds

Introduction

In July 2013 the hotly debated EU Alternative Investment Fund Managers Directive (AIFMD) will finally be implemented across Member States in the EU. It represents a significant change in EU regulation of "alternative investment funds" (AIFs, which include private equity funds, hedge funds and real estate funds), their managers (AIFMs) and other service providers. Broadly, from July 2013, management and marketing of AIFs in the EU must comply with the new requirements of the AIFMD. Critically, the AIFMD will directly impact the way in which non-EU AIFMs are permitted to market AIFs into the EU.