FLASHCARD—EU AIFMD

Copyright © 2025 LexisNexis
Published by a LexisNexis EU Law expert
Practice notes

FLASHCARD—EU AIFMD

Copyright © 2025 LexisNexis

Published by a LexisNexis EU Law expert

Practice notes
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This FLASHCARD will help you absorb or recall the core points of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD).

What is the AIFMD?

The AIFMD (Directive 2011/61/EU) came into effect in EU Member States on 22 July 2013 and covers the management, administration and marketing of alternative investment funds (AIFs)—such as hedge funds, private equity funds and real estate investment funds—across the EU. Commission Delegated Regulation (EU) 231/2013 (the AIFMD Level 2 Delegated Regulation) supplements the AIFMD with detailed rules on various aspects, including exemptions, general operating conditions, depositaries, leverage, transparency and supervision of alternative investment fund managers (AIFMs).

On 26 March 2024 the text of Directive (EU) 2024/927 (AIFMD II), which will amend AIFMD, was published in the Official Journal of the EU and entered into force on 15 April 2024. Member States will be required to apply most of the provisions in AIFMD II from 16 April 2026. Certain reporting changes must be applied 12 months later, ie, from 16 April 2027.

For general information on the application of AIFMD, see: Investment funds, asset management, and benchmarks (EU Law)—overview and Practice Note: EU AIFMD—essentials. For

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European Union

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