Introduction

The Alternative Investment Fund Manager Directive (‘AIFMD’) and the Commission Delegated Regulation (EU) No 231/2013 (‘the Delegated Regulation’) introduces new rules for Alternative Investment Funds (‘AIFs’) (including hedge funds, private equity and real estate funds). This should bring about change in a scenario where previously these structures were not regulated through pan-European initiatives, but were largely subject to national regimes and codes of conduct issued by industry associations.

As two facets of the same coin, provisions on disclosure and transparency focus on a new minimum standard of information with the aim of...

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