The AIFM Directive’s geographic impact will stretch beyond the EU; for example, due to the additional eligibility conditions for third-country AIF jurisdictions. Third-country jurisdictions wishing to ensure that their alternative funds can be actively marketed in the EU will need to carefully review their legal and regulatory framework in relation to AIFM supervision and be prepared to implement international cooperation arrangements for the purpose of systemic risk oversight and tax cooperation with relevant EU Member States. Most of the new costs related to the implementation of the AIFM Directive will be borne by the alternative investment industry and the AIF investors
