Europe’s management companies find new life in AIFMD

Can management companies save hedge funds from the threat of AIFMD?

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Last August, the Central Bank of Ireland (CBI) authorised Carne Group as an alternative investment fund manager (AIFM) in accordance with the EU’s alternative investment fund managers directive (AIFMD). But, curiously for an AIFM, Carne doesn’t employ any traders or portfolio managers. In fact, it isn’t really in the business running hedge fund strategies at all. Instead, Carne will serve as the authorised AIFM for external hedge fund managers – giving them the ability