The Central Bank of Ireland has published a revised Alternative Investment Fund Rulebook (AIF Rulebook) on its website.

This May 2026 AIF Rulebook replaces the March 2024 version.

The revised AIF Rulebook was expected following the recent transposition of AIFMD II provisions into Irish legislation and further to the CBI’s Consultation Paper 162 (CP162) in September 2025.  CP162 proposed amendments to the AIF Rulebook in order to support the implementation of the changes in AIFMD II and the Department of Finance Funds Sector 2030 Final Report recommendations. The CBI has also issued a feedback statement to CP162.

The proposed amendments are a significant enhancement to Ireland’s regulatory framework for Alternative Investment Funds and in particular Qualifying Investor AIFs.

We will follow up with detail of the AIF Rulebook changes and CP162 feedback.

Please contact any of our Asset Management & Investment Funds Partners or your usual contact at William Fry for further information.