AIFMD
Alternative Investment Fund Managers Directive
Definition
The EU directive regulating managers of alternative investment funds, including hedge funds, private equity funds, real estate funds, and other non-UCITS funds. AIFMD establishes requirements for authorisation, capital, remuneration, transparency, leverage, and depositary arrangements.
Regulatory Context
AIFMD II was finalised in 2024, introducing rules on loan origination funds, liquidity risk management tools, and delegation arrangements. The directive provides a passporting regime for marketing AIFs to professional investors across the EU.