European private placements for US managers – navigating the AIFMD minefield
Abstract
Purpose
The article sets out the practical implications of the EU Alternative Investment Fund Managers Directive for USA managers with a focus on the marketing provisions of AIFMD.
Design/methodology/approach
This article summarises key marketing issues for USA managers.
Findings
The article addresses in particular the means by which USA fund managers who are not regulated in the EU can access EU investors including passive marketing.
Practical implications
AIFMD grants EU member states latitude when implementing their local private placement regime. Some EU member states have not yet implemented AIFMD while others have imposed conditions that are so onerous that in practical terms they equate to the negation of private placement as an option.
Originality/value
The article is of value to USA fund managers who are not regulated in the EU because it provides insight into the practicalities of navigating the minefield that is AIFMD.
Keywords
Acknowledgements
© 2014 Reed Smith LLP
Disclaimer. Please note that this article is provided for information purposes only, does not constitute legal advice and solely reflects the views of the authors and not those of Reed Smith LLP as a firm.
Citation
Penhall, W. and Hatfield, J. (2014), "European private placements for US managers – navigating the AIFMD minefield", Journal of Investment Compliance, Vol. 15 No. 4, pp. 25-28. https://doi.org/10.1108/JOIC-09-2014-0038
Publisher
:Emerald Group Publishing Limited
Copyright © 2014, Authors