UK National Private Placement Regime: Promotion of Non-UK Alternative Investment Funds into the UK

Summary

The European Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) regulates the management and marketing of alternative investment funds (AIFs) by alternative investment fund managers (AIFMs) in all Member States of the European Union (EU). Following the exit of the UK from the European Union, the UK retained as part of UK law under the European Union (Withdrawal) Act 2018 (Withdrawal Act) the AIFMD framework in the UK as it existed on the UK's exit from the EU, with necessary amendments that now cross refer to UK law and the principal regulator being the FCA instead of ESMA.