With Stephen McLoughlin, Nollaig Murphy
The enactment of EU Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFMD") gave rise to considerable uncertainty as to whether structured finance vehicles would be considered alternative investment funds ("AIFs") under the AIFMD and therefore would be required by the AIFMD to appoint an authorised alternative investment fund manager ("AIFM") or be authorised themselves as AIFMs.