A Guide To AIFMD In Ireland

The European alternative investment funds industry is dealing with what is perhaps the most fundamental change in its history as it now comes to terms with the significant implications and potential opportunities offered by the EU Directive 2011/61/EU on Alternative Investment Fund Managers (the "Directive" or "AIFMD").

The subject of daily information releases from regulators, advisors, industry representative bodies, the AIFMD could perhaps be best described as "Big Bang" for the hedge and private equity and real estate fund communities. Not only will fund managers be faced with a broad swathe of new regulation as to how they run their businesses, the changes introduced also involve significant powers of regulatory intervention, additional investor disclosure and regulatory reporting obligations, an onerous liability regime for depositaries, limits on remuneration arrangements, new notification and asset stripping limitations for the private equity industry as