What Non-EU AIFMs Need To Know About the AIFMD (KPMG)

December 2013

KEYWORDS: AIFMD, European Union, AIFM, non-EU manager, Hedge Fund IT, marketing, EU Marketing Passport, hedge fund operation, private placement, third country, compliance cost, alternative investment

Authors:

KPMG

Organizations:
  • KPMG

Summary:

While the majority of the attention regarding the impact of the AIFMD has focused on AIFMs based in the EU, the directive also applies to non-EU AIFMs to the extent they are managing or marketing alternative investment funds in the EU (regardless of whether the funds originated inside or outside the EU).

Accordingly, there are a number of important issues around operations, information technology, marketing and regulatory compliance that in-scope non-EU firms will need to consider.

  • How to best address tax/local laws, issues and costs?
  • How to handle delegation to US or third country entities?
  • Costs of compliance?
  • Use of local private placement regimes?

Related Research and Data