Investment Management Update - January 2015
Many non-EU fund managers raising a non-EU alternative investment fund will accept a European investor on a "reverse solicitation" basis; but they won't "market" into Europe. This is often because the cost of complying with...more
This briefing is a supplement to our Alternative Investment Fund Managers Directive briefing, which is here.
In this briefing, we have used the terms we defined in our primary briefing without redefining them. The two...more
Alternative investment fund managers based outside the European Economic Area (EEA) who wish to market their alternative investment funds (AIFs) to European investors are rightly concerned about additional restrictions and...more
With AIFMD taking effect, non-EU alternative investment fund managers should be aware of a new regime governing their marketing of such funds into the EU—the AIFMD's private placement overlay.
The AIFMD is due to take effect on July 22, 2013. Yet countries across the EEA — with less than a week until the deadline — are at different stages of transposing the AIFMD into national laws. A number will miss the...more
- In conjunction with the implementation of the European Directive on Alternative Investment Fund Managers (2011/61/EU) (the “Directive” or “AIFMD”) the German legislature decided to abolish the private...more
With the Alternative Investment Fund Managers Directive (the “AIFMD”) implementation deadline of July 22, 2013 fast approaching, the UK Financial Conduct Authority (the “FCA”) and UK’s HM Treasury have been ramping up their...more
The U.K. Treasury recently published its response to its January 2013 consultation on transposing the EU Alternative Investment Fund Managers Directive (AIFMD). A revised draft version of the Alternative Investment Fund...more
What if co-operation arrangements are not in place in time?
We expect that most will be. However, without a co-operation arrangement in place between all relevant regulatory authorities, the manager will need...more
AIFMD starts to take effect from 22 July 2013, subject to certain transitional arrangements. In broad terms, it will affect US investment advisers engaged in the following activities....more
From 22 July 2013, the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”) and the supplementary level 2 Regulation (EU) No 231/2013 (the “Regulation”) will come into effect. This legislation will...more
On 19 March 2013, the UK Financial Services Authority (FSA) published Part II (CP2) of its three-part consultation series on Implementation of the Alternative Investment Fund Managers Directive (AIFMD). The consultation...more
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