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By Virginie Gonella, Senior Associate François Pfister (picture), Partner - Ogier
Background – AIFM Passport
The main purpose of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD) is to create a harmonised pan-European passport allowing managers of alternative investment funds (AIFM) to market alternative investment funds (AIF) to EU-based professional investors via a simple regulator to regulator prior notification procedure.
Currently the passport is reserved to authorised EU AIFMs of EU AIFs. Until 2018, non-EU AIFMs may continue to market AIFs to professional investors across the EU provided that they comply with national private placement regimes (NPPRs) of each of the Member States where the AIFs are...
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