The Preferred Return Podcast | AIFMD II – Implementation Begins
Investment Management Update - January 2015
On 24 July 2025, a draft bill (the Bill) proposing significant amendments to the law of 4 December 1967 on income tax and the law of 12 July 2013 on alternative investment fund managers (AIFMs) was submitted to the Luxembourg...more
Private credit funds have ballooned across the industry to bridge the funding gap which followed the great financial crisis and the resulting regulation of traditional financial institutions. The maturing private credit...more
Necessity, they say, is the mother of invention, and the private markets industry has certainly responded to a period of intense fundraising turbulence with creativity and ingenuity. Capital raised for traditional co-mingled...more
AIFMD II introduces substantial changes to the EU-wide regulatory framework for alternative investment fund managers (“AIFMs”) that was established under AIFMD. The changes cover a wide range of areas but will have a...more
The ESMA Consultation Paper on draft regulatory technical standards on open-ended loan-originating AIFs (OE LO AIFs) under the AIFMD, published on the 12 December 2024, aims to set out the requirements which OE LO AIFs must...more
In early August 2019, the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (the "CSSF"), confirmed in a press release that it had opened an online portal to allow UK firms currently using a financial...more
The European Commission announced a proposal for a supplementary AIFM Directive on 12 March 2018. A key area of focus for this proposal is around so-called "pre-marketing" of private equity and other alternative investment...more
How do private equity funds typically obtain their funding? Private equity funds continued to have a diverse investor base in 2015. Although with a significant decrease from the 2014 figure of 68%, about 48% of the...more
US-domiciled PE / VC funds often invest in European companies. Most fund managers know that, if they’re subject to the AIFMD, they might have to tell the European regulator(s) about these investments. It’s less well known...more
The US Securities and Exchange Commission's (SEC) “Spreading Sunshine” speech in early May 2014 heralded a new era of disclosure for private equity firms. Under the spotlight were fees, allocation of expenses, co-investment,...more
Now that three months have passed since the Alternative Investment Fund Managers (AIFM) Directive became binding law in all European Union jurisdictions, US private fund managers (whether hedge funds, private equity funds or...more
Our Investment Funds group has received an update on the changes to the private placement rules for marketing of alternative investment funds (“AIFs”) in Germany following the implementation of the Alternative Investment Fund...more
The Office of Compliance Inspections and Examinations, or OCIE, administers the SEC’s nationwide examination and inspection program. The National Examination Program, or NEP, has published its examination priorities to...more
On 11 February 2013, the European Securities and Markets Authority (ESMA) published its final Guidelines on remuneration of alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive...more