EVCA welcomes publication of AIFMD Level Two Delegated Acts
The EVCA has welcomed the publication of the Level Two Delegated Acts for the Alternative Investment Fund Managers’ Directive (AIFMD), saying that they are “important step towards giving European private equity fund managers and their investors legal certainty”.
EVCA secretary-general Dörte Höppner (pictured) says: “Policymakers have listened and recognised the benefits that private equity brings through long-term investment in building better businesses, including financing about 5,000 European companies per year, of which 83 per cent are SMEs, and investing EUR233bn in Europe since 2007.
“This regulation recognises private equity as a mature and established asset class and although it could be more proportionate, the industry is prepared for the challenges in terms of cost and timing that the AIFMD poses. The EVCA will continue to remain engaged on the outstanding areas of remuneration, third countries and the definition of an AIFM and AIF.
“It is now vital that the AIFMD is implemented consistently across the member states without any gold-plating to ensure a level playing field.”
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