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Alternative Market Briefing

AIFMD fails to provide positive impact on EU investors accessing private equity

Thursday, October 08, 2015

Komfie Manalo, Opalesque Asia:

A group of panelists who attended recent September’s Regulation Summit of the SuperReturn CFO/COO Forum 2015 in Amsterdam, have agreed that the European AIFMD (Alternative Investment Fund Management Directive) has not resulted in many positives.

In a discussion focused on the real impact of the AIFMD on LPs (limited partners) in the private equity industry, the panelists were not enthusiastic about the market changes that had resulted from the implementation of the AIFMD, Laven Partners reported.

Laven Partners CEO Jerome Lussan was one of the panelists, together with Hans van Swaay, partner at Lyrique Private Equity, and Richard Awbery, partner at Atlantic-Pacific Capital, and moderator Gus Black, Partner at Dechert LLP.

They noted that the current mood of some European LPs was pretty much the same as was reflected in the response of ILPA (Institutional Limited Partners Association) to ESMA (European Securities and Market Authority)’s call for evidence on the AIFMD passport and third country AIFMs.

"For instance, ILPA reported that 52% of its members surveyed believe that the AIFMD requirements have in fact had a somewhat negative or very negative impact on the LPs in Europe. The majority of the LPs in Europe (86% of respondents) also thought that the marketing activity among non-EU AIFM......................

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