What is a QIAIF? A Qualifying Investor Alternative Investment Fund (QIAIF) is an alternative investment fund regulated in Ireland ideal for investors who have at least €100,000 to invest. QIAIF's were introduced in July 2013 to meet the requirements of the Alternative Investment Fund Managers’ Directive (AIFMD) and to act as successor to the very popular Qualifying Investor Fund (QIF) structure. QIAIF's have become the new market standard related to offerings, while being fully compliant with regulation(AIFMD).

For which type of funds is an QIAIF interesting? As QIAIFs are different compared to UCITS, they are not subject to any borrowing restrictions or leverage requirements and in most cases diversification requirements do not apply. And where the fund has an EU alternative investment fund manager (AIFM), this AIFM can avail of the AIFMD passport to market and distribute the QIAIF across the European Union. With virtually unlimited flexibility in its investment strategy and the support of a robust Irish regulatory framework, QIAIFs are a suitable structure for a range of funds including:

• Loan funds.
• Property funds
• Private equity funds
• Hedge funds
• Venture capital funds
• Fund of funds
• Emerging market(less liquid) funds
• Infrastructure funds