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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:

  1. EU marketing passport
  2. 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 

Further Reading

EUR Lex AIFMD II text Go to https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52021PC0721 ESMA AIFMD Q&A Go to https://www.esma.europa.eu/sites/default/files/library/esma34-32-352_qa_aifmd.pdf Linklaters AIFMD Guide Go to https://www.linklaters.com/en/insights/publications/aifm/overview