Apply to be an authorised AIFM

Learn how to apply to us to become a full-scope UK Alternative Investment Fund Manager (AIFM) or a small authorised UK AIFM, including what permissions you'll need and how much you'll need to pay.

AIFMs need to be authorised by us or registered with us. Read this page if you're applying to be authorised, or our separate page if you're applying to be a registered AIFM.

If you're not sure whether you need to be authorised or registered, answer the questions below.

Will you manage Alternative Investment Funds (AIFs) above the threshold of Assets under Management (AuM)?

You can find out about the threshold of Assets under Management (AuM) in:

You must apply to us to be authorised as a full-scope UK AIFM.

Please read the rest of this page.

If you'll manage AIFs below the threshold of AuM, you can apply to be:

  • authorised by us – as a small authorised UK AIFM (or, if you opt-in to the full requirements, a full-scope UK AIFM), or
  • registered with us – as a small registered UK AIFM (including SEF and RVECA managers)

Please read the rest of this page.

Please refer to our page about applying to be a registered AIFM.

All AIFMs need to comply with the requirements in Article 3 of AIFMD and the amended regulations, which mainly relate to reporting.

Full-scope and small authorised UK AIFMs will also be subject to existing regulatory requirements.

Small registered UK AIFMs must fall into one of the categories set out in regulation 10 of the AIFM regulations.

These regulations allow for the registration of:

  1. internally managed, closed-ended investment companies (such as investment trusts)
  2. small property AIFMs (ie external managers of certain property funds), or
  3. managers of Social Entrepreneurship Funds (SEF) and Venture Capital Funds (RVECA)
Before applying to us for authorisation, review the regulatory requirements for AIFMs. You'll be subject to the full requirements of UK AIFMD. You also need to read our page for all wholesale markets firm applicants and our how to apply page for all firms.

Permissions you'll need

Typically, these are the permissions required to be an authorised UK AIFM:

  • managing an unauthorised AIF
  • managing an authorised AIF

For full details, refer to our table of permissions you might need and the terms being used.​​

Application fee

Your fee falls into pricing category 6, which will be £10,000.

Find out more about your application fee.

Prudential requirements (full-scope AIFMs)

Prudential requirements (small authorised UK AIFMs)

How to apply

You must use our online system Connect to apply:

  • as a new entity – whether a full-scope AIFM or a small authorised UK AIFM
  • for a variation of permission

You can apply for a variation of permission if you're:

  • a sub-threshold AIFM wishing to opt-in to the full scope of UK AIFMD
  • currently authorised as an AIFM and want to add MiFID permissions or MiFID top-up permissions
  • currently authorised as an investment manager, and you want to obtain the ‘managing an AIF’ permission

What to include

Before submitting your application, make sure you've prepared:

Applying for fund authorisation

Investment funds established in the UK and structured as collective investment schemes (CIS) must be authorised by us to be promoted to retail investors in the UK.

Find out how to apply for fund authorisation.

Page updates

: Information changed Page rewritten to update the information for authorised AIFMs
: Editorial amendment page update as part of website refresh
: Editorial amendment
: Link added AIFM Regulations 2019 (UK AIFMD)
: Document update Update to Register of small Registered UK AIFMs.
: Document update AIFMD Small Register file update
: Document update AIFMD Small Register file update
: Link changed Link to Register of Small Registered UK AIFMs updated