Alternative Investment Funds

Launching an alternative investment fund - hedge, PE, real estate, or fund-of-funds - requires governance, risk-management and operational arrangements

Alternative Investment Funds covers legal assessment, document preparation and implementation support in Europe. It is typically relevant to businesses, investors and organisations operating or transacting in one or more countries. The precise rules, competent authority and procedure depend on the subject matter, jurisdiction and facts, with EU and national law considered together.

Key points

  • Scope is determined by the specific service and countries involved.
  • EU law operates together with current national legislation.
  • Documents and contractual mechanisms are tailored to the facts and objectives.
  • Outcomes and timing depend on the parties, authorities and procedure involved.

Jurisdiction and applicable framework

The applicable framework depends on the subject of the service, governing law and countries in which the structure or transaction has effect. EU law and current national legislation are assessed together.

Official sources

Last reviewed: 22 September 2026

Launching an alternative investment fund - hedge, PE, real estate, or fund-of-funds - requires governance, risk-management and operational arrangements appropriate to the chosen domicile and strategy. We guide fund promoters and AIFMs through authorisation and ongoing compliance under the AIFMD framework without assuming a fixed approval or first-close timetable.

We start with structure selection: SICAV, SCSp, RAIF, or limited partnership, weighing regulatory burden against investor expectations and tax efficiency in the chosen domicile.

The licence application itself requires a programme of operations, organisational chart, remuneration policy, risk-management framework, and depositary appointment - all of which we prepare as a coordinated package rather than isolated documents.

What this includes

  • Fund-structure selection & jurisdiction analysis
  • AIFM licence application & programme of operations
  • PPM, LPA & subscription-document drafting
  • Depositary & administrator appointment
  • Marketing-passport notifications
  • Ongoing regulatory reporting (Annex IV)

Related insights