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AIFMD II: Practical impact for credit funds

Germany, Hessen, Frankfurt-am-Main, Euro Tower, home of European Central Bank, and large Euro Symbol, Willy Brandt Platz
Photo: Walter Bibikow/Gettty Images

Eve Ellis | Ropes & Gray, Azim Rahman | Ropes & Gray

5 min read
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This insight sets out an overview of the key rules and some of the practical issues EU managers need to navigate. 

The revised Alternative Investment Fund Managers Directive (AIFMD II) was implemented on April 16, 2026. The new rules introduce a harmonized framework for loan origination by alternative investment funds (AIFs) and will materially affect EU managers managing credit funds.

What is loan origination and who is in scope?

AIFMD II defines 

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