Search News & Insights
Matheson advises BlackRock on first Irish AIFM authorisation
AUTHOR(S): Michael Jackson, Tara Doyle, Dualta Counihan, Joe Beashel, Anne-Marie Bohan, Shay Lydon, Liam Collins, Philip Lovegrove, Elizabeth Grace
PRACTICE AREA GROUP: Asset Management and Investment Funds
Matheson has advised BlackRock* in its application for AIFM authorisation, the first AIFM application to be approved by the Central Bank of Ireland and among the first AIFM authorisations to be granted in Europe. The authorisation enables BlackRock to avail of a pan-European passport to market its Irish alternative investment funds from 22 July 2013, the effective date for the new regime under the Alternative Investment Fund Managers Directive (“AIFMD”). Matheson is also advising a number of other clients on their AIFM applications, which are expected to be approved in the near future.
To coincide with the transposition deadline, the Central Bank has published a revised AIF Rulebook to incorporate references to the European Union (Alternative Investment Fund Managers) Regulations 2013 (finalised last week), an updated AIFMD Q&A document and final application forms for AIFMs and alternative investment funds, including a new application form for below-threshold or “registered” AIFM and post-authorisation forms. The revised AIF Rulebook, AIFMD Q&A and application forms may be accessed on the Markets Update section of the Central Bank website.
The Central Bank has also moved forward with its stakeholder consultation considering the status of exempt unit trusts in the context of the AIFMD, and to invite comment on the position with respect to real estate investment trusts and special purpose vehicles by 11 October 2013. Matheson will be submitting a response to this consultation and we welcome input from our clients. A link to the Central Bank consultation paper is available here.
The Matheson AIFMD App
To mark the AIFMD transposition deadline, Matheson has launched its new AIFMD App, providing a single point of access to the latest AIFMD news and all our dedicated AIFMD factsheets addressing key issues such as remuneration, delegation, valuation and the depositary regime.
The AIFMD App may be downloaded here.
Please get in touch with your usual Asset Management and Investment Funds Group contact or any of the contacts listed in this publication should you require further information in relation to the AIF / AIFM authorisation process or the AIFMD generally.
*BlackRock Asset Management Ireland Limited is regulated by the Central Bank of Ireland.