On 8 June 2011, the Alternative Investment Fund Managers Directive (AIFMD) was adopted. As a result, the regulatory approach to private equity regulation was significantly changed - from no regulation to overregulation. Private equity fund investors are considered as several different ones, rather than one homogenous group, each of them having own interests. The AIFMD provides an overprotection of private equity fund investors to the harm of capital market efficiency.
European Company Law