The Governance of AIF and AIFM

The objective of this full day course is help Directors of AIFs and of AIFMs to better understand the issues they face within their organisations and, ultimately, give Directors tools to help them to ask the right questions.

After a short introduction putting the governance in AIFs and AIFMs in context, the day will be dedicated to four case studies focusing on key issues faced by Boards in the context of AIFs such as:

• structuring an AIFM,
• allocation of roles and responsibilities,
• meeting substance requirements,
• the relationships between the Boards and key functions in AIF structures,
• cross-jurisdictional coordination in AIF structures,
• role of depositary,
• conflicts of interests,
• onboarding new clients,
• oversight over distribution and managing personal exposure.

Each case study is interactive and facilitated by leading Luxembourg experts. The participants will have the opportunity to play different roles in AIF structures, in small groups, and share their perspectives and experiences.

A certificate of participation will be provided to the participants at the completion of the course.

The implementation of the AIFM Directive (AIFMD) has substantially raised the bar for AIFMs and the AIF they manage.

In order to comply with this more formal and prescriptive regime, existing AIFMs and AIFs have made significant changes to their organisational models and structures, corporate governance practices, remuneration models, fund documentation, due diligence and oversight practices and many other aspects of operations.

The impact of AIFMD has to be reconciled with the realities of the structure and organisation of the group and of each AIFM and AIF, often spanning multiple EU and non-EU jurisdictions, and the impact of other EU and non-EU regulations.

In this new context, Directors now have to be part lawyer, auditor, regulatory expert, portfolio and risk manager, operational manager and systems technician, among many other things.