In June 2014, PATRIZIA Denmark A/S established its subsidiary PATRIZIA Fund Management A/S, which has been granted an AIFM licence by the Danish FSA. This enables the company to get involved in portfolio management of property on behalf of investors as well as risk management.
PATRIZIA Denmark applied for this licence following the EU Alternative Investment Fund Manager Directive, which establishes the rules for managers of alternative investment funds.
The Directive has been implemented in Denmark by the Danish Alternative Investment Funds Act (the AIFM legislation), which entered into force on 22nd July 2013. The legislation imposes a number of requirements on managers of alternative investment funds who were previously not subject to financial regulation or supervision.
All this means that companies that manage assets in excess of EUR 100 m (and in special cases EUR 500 m.) on behalf of a number of investors are subject to the regulation and scrutiny of the Danish FSA.
The Danish AIFM licence is part of PATRIZIA’s Pan-European strategy to offer an investment platform that makes it possible for local and international investors to establish property investment funds in the particular country that makes most sense for the business case in question.
With licences in a number of European countries, PATRIZIA is able to handle and manage large international funds across national frontiers thanks to the company’s in-depth knowledge and experience of the Directive and its streamlined procedures.