Clifford Chance
New BaFin Practice on Lending Business conducted by Alternative Investment Funds
14 May 2015
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin") has declared in a statement dated 12 May 2015 that it intends to modify its existing administrative practice to permit the granting, restructuring and prolongation of loans by alternative investment funds ("AIFs"). It is likely that this permission will only extend to closed-ended special AIFs (geschlossene Spezial-AIFs) as further legislation is on its way.
