With 54 votes in favour and 1 against, MEPs in the Committee on Economic and Monetary Affairs adopted, on Tuesday 24 January, their position on the AIFMD directive governing alternative investment funds. They also adopted their negotiating mandate with the EU Council with 51 votes in favour, 3 against and 1 abstention.
“I believe that the EU must continue to support private credit and loan originating funds as a financial activity to attract capital to our continent”, said the rapporteur Isabel Benjumea Benjumea (EPP, Spanish) in a statement (see EUROPE 13011/19).
Taking as an example “jurisdictions that have been able to develop strong markets”, she said that “the right choice of legislative mechanisms allows a balance between market stability and profitability for investors”.
With its mandate, the European Parliament wants to promote and recognise delegation activity as essential, with a framework that ensures the protection of investments while allowing high levels of profitability for managers and funds.
Regarding the loan originating funds, the European Parliament has remained cautious by setting a retention rate of 5%, in order to avoid risks to the investor and decapitalisation of the fund. However, it has provided for several derogations.
The EU Council, for its part, adopted its position in June (see EUROPE 12974/24). (Original version in French by Anne Damiani)