AIFMD guides: The marketing passport and the requirements for fund managers across the EU

There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs). The first method is a marketing “passport” which has been introduced by the Alternative Investment Fund Managers Directive (AIFMD) to allow AIFs to be marketed to professional investors across the EU subject to certain conditions being met. The second method allows AIFs to be marketed in a specific member state in accordance with that member state’s private placement regime, subject to certain conditions being met.

We have now updated our two guides on AIFMD, which has now been in force for some time. Both guides are now in their eighth iteration.

The first guide considers whether the AIFMD marketing passport is working in practice and is a useful tool for managers as it illustrates the significant differences across jurisdictions. It covers 14 EU jurisdictions – Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain and Sweden.

The second guide looks at the requirements non-European AIFMs face when marketing AIFs to professional investors across fourteen EEA Member States, Switzerland and the United Kingdom. 

Input on both guides has been prepared by Norton Rose Fulbright lawyers in Europe, as well as by correspondent counsel with whom we have close working relationships.

To access the guides, please contact Jonathan Herbst.