The Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) was transposed into national law in the UK on 22 July 2013 and introduced requirements concerning transparency and the information which must be disclosed to potential investors prior to making a decision to invest. The principal document for any investor and alternative investment fund manager (AIFM) is the investment prospectus, also known as an information memorandum, which must be drafted to include all information in relation to the investment opportunity to allow an investor to make an informed choice. This Practice Note, written in partnership with Pinsent Masons, lists the prospectus transparency requirements imposed by AIFMD and explores those concepts in relation to preparing an investment memorandum that is fit for purpose.
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