Statement by EVCA Secretary-General Dörte Höppner following the publication of the Level Two Delegated Acts for the Alternative Investment Fund Managers Directive

The EVCA welcomes today’s publication of the Level Two Delegated Acts for the AIFMD by the European Commission.

The Acts are an important step towards giving European private equity fund managers and their investors legal certainty.

Policymakers have listened and recognised the benefits that private equity brings through long-term investment in building better businesses, including financing about 5,000 European companies per year, of which 83 percent are SMEs, and investing €233 billion in Europe since 2007.

This regulation recognises private equity as a mature and established asset class and although it could be more proportionate, the industry is prepared for the challenges in terms of cost and timing that the AIFMD poses. The EVCA will continue to remain engaged on the outstanding areas of remuneration, third countries and the definition of an AIFM and AIF.

It is now vital that the AIFMD is implemented consistently across the member states without any gold-plating to ensure a level playing field.