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The consolidated text of AIFMD Level 1 and 2, as amended by the AIFMD II and other EU legislation prepared by A&O Shearman includes changes from the Securitisation Regulation, Cross Border Funds Directive and SFDR.

Amendments introduced by AIFMD II at Level 1 are highlighted in green (for additions) and red (for deletions), thus precisely indicating AIFMD II's impact and providing a steer for practitioners to navigate the text. Level 2 AIFMD and other Level 2 applicable EU legislation are included in textboxes or are annexed as exhibits.

With the construction of a new shopping center on a plot covered by grassland, KLP Eiendom wished to reduce the project’s negative impact on local biodiversity. KLP Eiendom's Fornebu S shopping center in Oslo incorporates a green roof that recreates a rare local habitat, "dry calcareous grassland," enhancing biodiversity. The roof consists of 84 native plant species and beehives and  provides a vital “green corridor, helping to protect the local biotope after the conversion of significant natural land into a built environment. It mitigates physical climate risks by absorbing water during torrential rain, reducing stress on storm drains. The green roof helps keep the building cool during extreme heat. Furthermore, it enhances the visual appeal for residents in surrounding apartment buildings.

APG implemented a biodiversity risk assessment across its global real estate portfolio to address biodiversity loss. This analysis, using data from leading conservation organisations, highlighted areas of protected habitats, priority species, and critical conservation needs. Conducting the analysis for APG’s Amsterdam office serves as an illustrative example of how these type of assessments can be of value, even in urbanised areas. Despite its urban nature, the region around Amsterdam demonstrates significant biodiversity value and conservation potential.The insights from the analysis help APG develop targeted conservation strategies and integrate biodiversity considerations into investment decisions​.

Bourn Quarter, a 25-acre business park, transformed a former WW2 airfield site with innovative biodiversity initiatives. These included insect hotels, bird boxes and over 2,500 native trees and shrubs. A sustainable urban drainage system supports local species and manages runoff. The site minimises light pollution to protect local wildlife like the Barbastelle bat. This green infrastructure, alongside wildflower seeding, has created a thriving natural habitat, enhancing both biodiversity and the area's aesthetic appeal​.

Rasmus Steiness, Transfer Pricing Senior Director, Nick Crama, Senior Director Tax, and Alistair McLaren, Transfer Pricing Director, from Alvarez & Marsal Tax, presented developments in the interest rates and financial covenants applied by lenders and its interactions with updated guidance on transfer pricing requirements and domestic changes to earning stripping rules.

The INREV Debt Vehicles Universe publication is designed to provide more transparency and highlight the latest trends in the Global Debt Vehicles market.