On 12 May we presented a webinar on the European marketing rules for non-EEA funds, covering the rules, key changes and potential solutions. A recording of this session is now available to view below.
Why is this important?
First, Europe is the second largest pool of capital after the U.S., with almost €120 billion raised in 2021. There is a well-trodden path of U.S. managers coming to Europe once they have reached a certain size at home. London has typically been the starting point, but Brexit has cast some doubts on whether that remains the best choice.
Second, EU regulators are increasing their scrutiny of the marketing and distribution of alternative investment funds, in the most wide-ranging changes since the regulations were introduced in 2014. They have particular focus on the reverse solicitation rules, which have long been the go-to strategy for U.S. managers.