Alternative Investment Fund Manager (AIFM) Authorisation / Registration (United Kingdom)

At a glance

What it lets you do

• Managing alternative investment funds

• Managing alternative investment funds. Performing portfolio management and risk management for funds that are not UCITS, such as hedge, private equity and real estate funds.

Where it is valid

Buying a company that already holds it

Prior approval required. Acquirers must obtain FCA approval prior to acquiring or increasing control in an FCA or PRA authorized firm; acquiring control without approval constitutes a criminal offence under FSMA 2000 Section 191F. For Directive firms (including banks, MiFID investment firms, UCITS Mancos, payment institutions, and electronic money institutions), control thresholds are 10%, 20%, 30%, and 50% of shares or voting rights, or becoming a parent undertaking. For non-Directive firms (such as non-MiFID investment firms, general insurance intermediaries, and full-scope AIFMs), a single 20% or more threshold applies. For cryptoasset firms under MLRs Schedule 6B (amended 30 June 2026), a 25% beneficial owner threshold applies, alongside FSMA bands if no beneficial owner exists. The statutory assessment period is 60 business days from complete notification acknowledgment (FSMA Section 189), pausable once for up to 30 business days if further information is requested.³

Laws behind it

• The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017: S.I. 2017/692