AIFMD passed into German federal law

The German Bundestag's finance committee signed off the final draft of the KAGB, the legal framework for passing the AIFMD into federal law, on Wednesday, and full implementation of AIFMD is set to be finalised by 22 July.

The news brought to a close a worrisome year for German private equity as first drafts were seen to be too strict and threatened to seriously hamper Germany's competitiveness.

The industry's reactions to the latest draft were positive as the law took into consideration much-debated key points, such as a provision for semi-professional investors, which will allow family offices and GPs themselves to keep investing in private equity funds.

Ulrike Hinrichs, the managing director of German trade body BVK, said in a statement: "The BVK approves the final draft. The private equity industry has played an active role in shaping the implementation of AIFMD. The new regulation will allow private equity in Germany to be better supported legally."

BaFin will be the regulatory body in charge of supervising all alternative investment funds in Germany post-implementation.

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• Topics
• DACH
• Regulation
• AIFM Directive
• Germany
• BVK