Private Equity and Hedge Funds under the AIFMD

In the wake of the financial crisis which began in 2008, alternative investment funds, including hedge funds and private equity, have come under closer scrutiny on both sides of the Atlantic with the 2010 Dodd Frank Act in the United States and the 2011 AIFMD in the EU. In this book, the impact of the AIFMD on hedge funds and private equity is investigated with a particular view to the comparative advantages gained or disadvantages suffered by alternative investment funds which fall under the directive. The main focus is to determine whether and to what extent the AIFMD places hedge funds and private equity fund managers based in the EU at a disadvantage when compared to their US based counterparts. In this context, the currently debated extension of the passport system under the AIFMD from EU based to selected non-EU based fund managers will be looked at in order to determine how such an extension would affect alternative investment fund managers in the European Union