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SL Capital Partners authorised under AIFMD

SL Capital Partners, a private equity firm with over EUR6.5bn (USD8.5bn) raised, has had its application to become an authorised Alternative Investment Fund Manager (AIFM) approved by the Financial Conduct Authority (FCA).

The transposition of the Alternative Investment Fund Managers Directive (AIFMD) into national law in each EEA member state was due on 22 July 2013. The AIMFD introduces a single regulatory framework for the marketing and management of “alternative funds” within the EEA. The new regulations will impose a wide range of conduct and prudential requirements on the investment managers of those funds.
Ian Harris, chief operating officer at SL Capital Partners, says: “We are pleased to have completed our authorisation process with the FCA to become an AIFM. SL Capital has been authorised in the UK (and by the SEC in the US) since we raised our first fund, so we are very comfortable operating in a regulated environment and have been undertaking many of the conduct requirements of the directive already.
“We have implemented all the changes that are required by the AIFMD to ensure that the necessary disclosures are made to our investors and that our business processes comply with the new rules. For those funds that require a depositary, arrangements are in place to ensure that our investors benefit from the protections that the directive introduces.”

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