ESMA Guidance On Application Of AIFMD Passport

Four things managers need to know

TIM PEARCE, IAN MEADE AND CHRIS LEONARD, AKIN GUMP STRAUSS HAUER & FELD

Non-EU alternative investment fund managers (“AIFMs”) and alternative investment funds (“AIFs”) are currently restricted from accessing the EU-wide marketing passport under the Alternative Investment Fund Managers Directive (2011/61/EU) (the “AIFMD”). These passports allow the marketing of AIFs to professional investors throughout the EU without having to obtain a license or approval in each of the member states where the AIF is marketed. Instead, non-EU AIFMs...

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