European Union: Fund Management/ REITs

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Article
Tipología de los fondos de pensiones en función de su inversión
La Orden ECM/973/2026 establece una nueva tipología para clasificar los fondos de pensiones según su política de inversión, desarrollando aspectos ya incorporados en la normativa reguladora. ¿Cómo afectará esta clasificación a la transparencia y comparabilidad de los fondos para los partícipes? La norma busca clarificar las vocaciones inversoras y simplificar el mapa inversor existente mediante categorías definidas que agrupen fondos con características
Spain Finance
Gómez-Acebo & Pombo
Article
ESMA 2027 Work Programme: Key Deliverables Of Relevance To Fund Managers
ESMA has published its 2027 Annual Work Programme outlining key workstreams and deliverables for fund management companies and their delegates. The programme addresses integrated funds reporting, retail investment strategy, SFDR 2.0 revisions, and transaction reporting reforms that will shape the regulatory landscape for asset managers operating in Ireland and across the EU.
European Union Finance
DE
Dillon Eustace
Article
AIFMD II: Key Implementation Developments In Luxembourg
Two years on from the entry into force of Directive (EU) 2024/927, commonly referred to as AIFMD II, the 16 April 2026 transposition deadline has passed, and the state of play across the EU is best described as uneven, with compliance posture increasingly dependent on where an AIFM is authorised. However, Luxembourg, which hosts the largest shares of EU AIFs within the Union, transposed the Directive without material gold-plating.
European Union Finance
MG
Maples Group
Article
Dechert Responds To Ireland’s Public Consultation On Reform Of The Limited Partnership Framework
Dechert's submission to Ireland's Department of Enterprise, Tourism and Employment advocates for comprehensive reform of the Limited Partnerships Act 1907, proposing removal of the 20-partner limit, introduction of a statutory whitelist of permitted activities, and full recognition of the commitment and drawdown capital model to modernize Ireland's private fund structures and enhance competitiveness with global jurisdictions.
Global Finance
D
Dechert
Article
EU Fund Managers: Structuring Considerations For Belgian Private Privak Investors In Luxembourg Private Equity Funds
Belgian family offices and fund-of-funds utilizing the Privak regime face unique challenges when investing through Luxembourg structures, particularly regarding tax-neutral status requirements and participation exemption conditions. The look-through treatment of transparent entities like SCSps can create complications with underlying assets, prompting the need for alternative structuring solutions that maintain compliance while accommodating diverse investor bases.
Global Tax
LL
Loyens & Loeff
Article
Malta Records First NPIF Under The Single Family Office Exempt Manager Framework
Malta has established its first Notified Professional Investor Fund under the Single Family Office Exempt Manager Framework, offering family offices a proportionate regulatory pathway that balances efficient wealth structuring with appropriate oversight. The framework provides an alternative to institutional fund manager requirements, enabling single family offices to manage private wealth through NPIFs with governance structures suited to their scale and operations.
Malta Wealth Mgt
FM
Finance Malta
Article
Central Bank Of Ireland Review Of Delegation By Fund Management Companies
The Central Bank of Ireland has completed its review of delegation practices across fund management companies, examining how the sector's dramatic growth to €5.6 trillion in assets has impacted oversight and governance frameworks. With 9,000 authorized funds now supported by 121 FMCs, the regulator has identified both effective practices and areas requiring enhancement across five critical operational domains. FMCs must now benchmark their policies against these supervisory expectations and implement
Ireland Wealth Mgt
D
Dechert
Article
Central Bank Clarifies Authorisation Process For Open-Ended Loan-Originating AIFs And Updates Its AIF Rulebook
The Central Bank of Ireland has issued important clarification on the authorisation pathway for open-ended loan-originating alternative investment funds (LO AIFs) structured as Qualifying Investor AIFs. This guidance addresses how Irish and EU-authorised AIFMs can navigate the regulatory framework established under AIFMD II, while also outlining the Central Bank's expectations regarding adherence to ESMA's regulatory technical standards for liquidity management and redemption policies.
Ireland Finance
AC
Arthur Cox
Article
Luxembourg Introduces Multi-compartment Structures For Unregulated AIF Limited Partnerships
Luxembourg has introduced a landmark legislative reform allowing unregulated alternative investment fund (AIF) limited partnerships to adopt multi-compartment structures. This development enables fund sponsors to consolidate multiple investment strategies, investor classes, and fund-level structures within a single limited partnership, significantly reducing complexity and administrative burden while maintaining creditor protection and investor segregation.
Luxembourg Finance
KL
Herbert Smith Freehills Kramer LLP
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