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ARTICLE · 06 SEPTEMBER 2016

How To Set Up An AIFM In Ireland

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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Since mid-2013, EU law has provided that an entity which either

IrelandFinance and Banking
Dillon Eustace
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Introduction

Since mid-2013, EU law has provided that an entity which either manages an EU based non-UCITS investment fund or which markets a non-UCITS investment fund within the EU requires an authorisation to do so.

Such an entity is known as an "AIFM" (an alternative investment fund manager) and the non-UCITS funds which it manages or markets are known as "AIFs" (alternative investment funds).

The authorisation that such an AIFM requires is one under Directive 2011/61/EU (the "Directive" or "AIFMD") as implemented in local law via local domestic legislation which in Ireland is the European Union (Alternative Investment Fund Managers) Regulations, 2013 (the "AIFM Regulations"), and Delegated Regulation EU 231/2013 (the "Level 2 Regulations"). These are supplemented by the Irish Central Bank's AIF Rulebook and related Guidance.

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