London-based Sturgeon Ventures has entered into a new joint venture deal with Ireland-based Gandon Alternative Fund Management to offer a full regulatory service for alternative investment funds (AIFs) in Europe.
The new venture will offer new or existing EU and non-EU AIFs with a regulatory option in order to become compliant with the Alternative Investment Fund Managers Directive (AIFMD), which is due to be passed into law on 22 July 2014.
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Under the new service, AIF managers will become appointed representatives of Sturgeon and thereby authorised to market their products within the European Union.
In addition, Sturgeon Ventures will support AIFs to become AIFMD compliant by becoming an external AIF manager, setting up sub or mirror funds or outsourcing risk management.
Sturgeon managing partner Seonaid Mackenzie said, "The clock is ticking in relation to the AIFMD and many self-managed or formerly lightly regulated investment managers will have to make tough decisions with regards to regulation, both under the AIFMD and MiFID."
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