Clifford Chance – News

AIFMD – Key issues for Private Equity and Infrastructure Fund Managers

For the alternative investment fund industry, 22 July 2013 will mark the radical transformation of the EU regulatory landscape. The Alternative Investment Fund Managers Directive (AIFMD) imposes a licensing and regulatory compliance framework on the managers of alternative investment funds other than retail funds regulated under the UCITS Directive which are managed or marketed in the EU. Its provisions will affect EU AIFMs managing and marketing AIFs in the EU, non-EU AIFMs managing EU AIFs and non-EU AIFMs marketing AIFs in the EU, and will therefore have significant implications for financial sponsors across the globe.

This briefing begins by providing an overview of some of the key structuring issues for managers. The second part of the briefing focuses on the impact of the AIFMD's transparency and asset stripping provisions for portfolio companies and looks in particular at some of the UK implementation issues. Finally, the briefing considers the key issues relating to the remuneration provisions in the AIFMD.

To the full report