The Alternative Investment Fund Managers Directive (with the forthcoming changes under AIFMD II)

This brochure will help you identify the changes introduced by Directive (EU) 2024/927 (“AIFMD II”) in the AIFM Directive 2011/61/EU (“AIFMD”). It contains a consolidated version of the AIFMD with the changes introduced by AIFMD II. 

The AIFMD II changes are highlighted (in red and blue) and the AIFMD II Recitals have been inserted each time under the relevant article of the AIFMD.

AIFMD II must be implemented into national law by 16 April 2026 at the latest and Member States must apply the new AIFMD II obligations from that date. Specific transition provisions for loan origination activities are provided for in Article 61 of AIFMD and the new reporting obligations will only start to apply from 16 April 2027.

For more information on AIFMD II, see also our Newsflash “AIFMD II: Political agreement is out!”