In early May the European Commission, under the guidance of Internal Market Commissioner Charlie McGreevy, issued its “Directive on Alternative Investment Fund Managers”, a proposal to create a comprehensive regulatory framework for hedge and private equity fund managers in the European Union. Reactions to the directive varied widely: the Financial Times called it a “crowd pleaser”, while the European Private Equity and Venture Capital Association said it would “punish the middle market”.
Europe’s new directive
The European Commission has released a detailed plan to regulate alternative investment funds, one that would require significant disclosures from private equity funds.
