Andrew Shrimpton, Global Head of Compliance Consulting at Duff & Phelps’ Kinetic Partners division comments on his expectations for ESMA’s AIFMD passport announcement:
“In terms of the passporting regime under AIFMD, we expect that ESMA will recommend an individual country basis, rather than adopting a ‘one size fits all’ approach. This would be welcomed by jurisdictions outside the EEA that are recommended for the passport. If the European Commission accepts ESMA’s recommendations, Asian managers in particular are likely to take full advantage of raising capital in Europe and will seek to become full scope AIFMs, based on their greater adoption of current national private placement under Article 42 of the AIFMD.”