The draft AIFM Directive

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Released on 29 April, the European Commission’s draft Alternative Investment Funds Management Directive (AIFM Directive) has caused waves of consternation across the industry in Europe and further afield. However, the key issues are likely to be addressed during the co-decision negotiations between the Council of Ministers and the European Parliament over the coming weeks.

Clearly, this Autumn will determine the shape of the legislation that eventually comes into play. What this will be is, as yet, far from clear. But what is clear is that some form of legislation — impacting the alternative investment industry very broadly — will be introduced.