With the introduction of the Alternative Investment Fund Managers Directive which is effective from July this year, new private investment funds which are not exempt joint ventures for AIFMD purposes, will require a fund manager. Depending on size, the fund will need to be managed either by a small authorised/registered manager or if larger than €100 million with gearing, or €500 million without gearing, a full scope authorised fund manager.
Smaller funds will require an FCA authorised operator in addition to appointing a small authorised /registered fund manager. We already manage Alternative Investment Funds, and await a variation of permission to act as a small authorised fund manager.
We are able to act as an AIFM on a seamless basis for any new fund thinking of establishing itself from now. We have decided to offer this service only to ungeared funds, or to funds with ring fenced debt. In addition, being an established fund operator, we can offer a “one stop shop” for both the regulatory roles required by a small private investment fund.
Separately, we have submitted a variation of permission application to become an authorised depositary for those funds which, on account of size, require a full scope manager. We will offer this service to larger AIFs in order to satisfy their obligation to appoint a depositary.
Kingfisher Property Partnerships Limited
Kingfisher Property Trustees Limited
Both Authorised and Regulated by the Financial Conduct Authority