Another Milestone for the AIFMD: Implications for Non-EU Private Funds

Practices: Private Investment Funds

The European Securities and Markets Authority recently published its technical guidance on the implementing measures for the Alternative Investment Fund Managers Directive (the AIFMD). This brings the AIFMD’s impact closer and represents an opportunity for U.S. and other non-European private fund advisers to consider or reconsider the directive’s effects. Please join us for a webinar detailing the implications of the AIFMD for Non-EU-based private equity funds.
 
The AIFMD introduces a Europe-wide regime aimed at regulating the activities of those marketing private funds, including U.S. advisers to Cayman Islands and other non-EU private funds, into Europe or those managing private funds from Europe. When the AIFMD takes effect in mid-2013, it will impose transparency, notification and leverage requirements on managers or advisers wishing to promote their funds to European investors. Moreover, for private fund managers located in an EU member state, the AIFMD will impose certain organizational, fitness and properness, capital, systems and controls, depository, and remuneration requirements. Finally, any private fund with a feeder vehicle located in Europe will need to consider whether the manager of that fund must be registered as an alternative investment fund manager. With the AIFMD’s wide-reaching effects upon the industry, this webinar will discuss the Directive’s impact on private equity fund sponsors, as well as its interplay with US regulations.
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