Alternative Investment Fund Managers Directive
Update Bulletin for Real Estate Funds
On 11 November 2010 the European Parliament approved the agreed text of the Alternative Investment Fund Managers Directive (the “Directive”). The Directive is now final and official publication is expected in early 2011.
This update bulletin looks specifically at the impact the Directive is expected to have on the Real Estate Funds industry and reviews recent changes to the final text as well as flagging up further European regulatory changes.
The bulletin includes:
- An update on the status of the Directive as it applies to REITs and JVs
- Key points for consideration for the Real Estate Funds industry, including compliance, contractual changes and administrative burden
- Summary of the final ‘Third Country’ provisions
- Discussion of the possible impact of the proposed European derivatives regulation on Real Estate businesses