Alternative investment funds (AIF) and their managers have been subject to comprehensive regulation since the introduction of the German Investment Code (KAGB), which transposes the Directive on Alternative Investment Fund Managers (AIFMD) into German law. This basically applies comprehensively to all types of capital collection vehicles for institutional and private investors, both for open and closed-ended funds, regardless of their design as a public offering or private placement. Besides the KAGB, European regulations and the administrative practice of the Federal Financial Supervisory Authority (BaFin, Bundesanstalt für Finanzdienstleistungsaufsicht) and the European Securities and Markets Authority (ESMA) must also be taken into account.
The Alternative Investments Legal team has in-depth consulting expertise and industry knowledge in this increasingly complex consulting segment. Specialised lawyers advise on all legal and regulatory issues in conjunction with alternative investments, both in Germany and, in cooperation with our foreign KPMG partner companies, worldwide. We are represented in numerous committees and associations where we actively drive current topics in the interest of our clients.
With a long track record in the structuring and implementation support of open and closed-ended public and special investment assets for all major asset classes – real estate, renewable energies and infrastructure, debt funds, private equity, ships and aircraft – we are your competent partner and we know what you need. With regard to the requirements under insurance regulatory law for investment structuring in accordance with the Investment Regulation (Anlageverordnung) and Solvency II, we support you with in-depth specialist expertise from numerous projects and design analyses.
In addition to our expertise at fund manager and fund level, we specialise in all regulatory and legal issues relating to the distribution of fund units and investment products. We have accompanied many licensing procedures for capital management companies and developed tried and tested solutions for the implementation of the various regulatory requirements.
Together with our tax and advisory colleagues at KPMG AG Wirtschaftsprüfungsgesellschaft, we provide comprehensive one-stop consultancy services that take all relevant aspects – legal, tax and business – into account. This ensures smooth and efficient processing of even comprehensive projects by a perfectly coordinated team.
KPMG Law quick link to lawyers, consultancy areas and locations