EU AIFMD – Global Relay Intelligence & Practice

EU AIFMD

Rule Overview

Jurisdiction: European Union

Regulator: ESMA

Topic: General Requirements

Overview

Latest News

Further Reading

An alternative investment fund (AIF) is any collective investment that is not a UCITS including investment vehicles that are:

open-ended
closed-ended
listed
unlisted

An alternative investment fund manager (AIFM) is defined as an legal person whose regular business is managing one or more AIFs.

The directive regulates the marketing of alternative investments to professional investors providing two options to managers:

EU marketing passport
Meber States’ private placement regimes

It includes disclosures and reporting requirements including information that needs to be made available to potential investors.

Latest News More on AIFMD II

ESMA

ESMA liquidity management tools standards and guidelines for UCITS and AIFs

September 9, 2025

Non-EU firms may be indirectly affected by the RTS and guidelines if they have subsidiaries or branches in the EU.

Eversheds Sutherland7 min read
FCA

HMT and FCA consultation on AIFM Regulations

April 28, 2025

Reforms address the overall regulatory framework for AIFMs and how rules will be made more proportional for different types of firms.

Pippa Tasker | CMS, Ben Maconick | CMS7 min read
ESMA

Key changes to EU fund regime as AIFMD II enters into force

April 26, 2024

An overview of the most significant features of AIFMD II that fund managers should know.

Morgan Lewis8 min read
Compliance

GR compliance roundtable: AIFMD II, DORA, cyber and LinkedIn messaging

February 5, 2024

Reporting from Global Relay’s quarterly asset manager compliance roundtable - December 2023.

Alex Viall5 min read

Further Reading

EUR Lex AIFMD II text

Linklaters AIFMD Guide