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By Carolina DOGARU, Senior Associate, Funds Asset Management, Baker McKenzie Luxembourg
The revision of the AIFMD through AIFMD II marks one of the most significant updates to the European framework for alternative investment fund managers (AIFMs) in a decade. Delegation has always been central to the European Union (EU) funds ecosystem, particularly in Luxembourg. AIFMD II brings updates for AIFMs managing alternative investment funds (AIFs), particularly in the areas of delegation, reporting, and authorisation.
Although AIFMD II leaves the core delegation framework unchanged, it broadens the existing rules and adds new obligations relating to oversight and reporting. The existing prohibition on AIFMs becoming “letter-box...
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