The Carlyle Group plans to register a newly formed European investment manager later this year to take advantage of the Alternative Investment Fund Managers Directive marketing passport.
It would be the firm’s second manager authorized under the AIFMD, after Netherlands-based AlpInvest obtained authorization in 2015. The firm’s other subsidiaries manage or market alternative investment funds in the EEA in accordance with national private placement regimes.
“Compliance with applicable AIFMD requirements may restrict Carlyle’s fund marketing strategy and will place additional compliance obligations in the form of remuneration policies, capital requirements, reporting requirements, leverage oversight and liquidity management,” the firm said in its 10-K filing. “In 2017, we anticipate registering a newly-formed European investment manager to take advantage of the European marketing passport available to it under the AIFMD.”
Carlyle declined to comment on either its jurisdiction of choice, or a launch date for the new manager.
The AIFMD puts significant regulatory requirements on alternative investment fund managers operating or marketing funds to investors within the EEA. It also prescribes certain conditions with regards to regulatory standards, co-operation and transparency that must be satisfied for non-EEA fund managers to market or manage AIFs into EEA jurisdictions. Authorization under the AIFMD is currently only available to EEA managers.
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