Changes to the AIFMD have been long anticipated – the European Commission issued its evaluation of the directive’s impact in 2020 – and are finally here. After an initial concern about delay due to the cancellation of a trilogue process shortly before the change in presidency, a provisional agreement was reached in August 2023.
According to EFAMA, the Commission is “keeping the key elements of both directives [AIFMD and UCITS] intact during [its] review”.
Against this backdrop, The Drawdown has taken a look at key provisions of discussion, concerning the rules on origination, delegation, deposition and a few extra scenarios for open-ended funds.
Origination, delegation and deposition
The revision of rules concerning loan origination funds “is likely to be a welcome focus area...