AIFM vote put back to autumn
A crucial vote on the Alternative Investment Fund Managers’ (AIFM) Directive has been delayed until September.
Rules surrounding third country rules, which would limit the capabilities of non-EU domiciled hedge, private equity and venture capital funds, led to the collapse of talks between the European Parliament and country representatives.
The European Commission had set an ambitious target of agreeing the regulations by he end of this month. However, the Spanish EU presidency says it will not be possible to reach an agreement in June, and the vote has now been delayed until the second parliamentary session in September.
A delay in holding the vote gives lobbyists crucial extra time to push for changes in the draft legislation, which could negatively impact private equity and venture capital investment in Europe.
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