The Alternative Investment Fund Managers Regulations 2013 implement the EU Alternative Investment Fund Managers Directive (AIFMD) into UK law. They regulate fund managers overseeing alternative investment funds (AIFs), which include property-focused funds and real estate investment vehicles commonly used in property development finance structures. These rules require registration, transparency on investment strategies, and risk management practices, particularly where funds raise capital from investors for development projects. Managers of such funds must adhere to operational, reporting, and disclosure standards. Although Brexit modified their application, the core principles remain embedded in UK regulatory frameworks governing private capital in development finance.
In practice, these regulations are particularly relevant where institutional investors, family offices or private capital are pooled through property investment structures to finance acquisition, development and asset management strategies. Compliance obligations can influence how funds are established, marketed and governed, with managers expected to maintain robust oversight of investor capital and project risk. Within a wider legal framework, the regulations sit alongside other forms of Securities and Collateral that support funding arrangements and investor protections. They are also frequently encountered in transactions involving Alternative Debt, where regulated fund structures provide a source of capital for development projects outside traditional bank lending channels.
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