Europe’s management companies find new life in AIFMD
Management companies are being touted as the saviour of hedge funds that want to market in Europe without a presence on the ground, but some say these outsourcing arrangements should be subject to more scrutiny, writes Kris Devasabai
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 to freely market their
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