In this episode, we catch up with Jiří Król, global head of the Alternative Credit Council within the Alternative Investment Management Association. The ACC is a body that represents the private credit industry to policymakers, legislators and regulatory authorities globally. In the conversation, Król discusses implications arising from the second, revised version of the Alternative Investment Fund Managers Directive (AIFMD), which fund managers in Europe will need to incorporate into their activities over the next few years. One of the issues noted by Król is the definition of loan origination funds, which he believes may deter opportunistic investment at times when it’s most needed by the real economy. The conversation also covers areas such as cross-border investing, leverage, liquidity and risk management. To listen to our other episodes – including our Decade of Private Debt miniseries – subscribe to the Private Debt Investor Podcast for great insights into the private debt asset class. A recent interview with Król may also be found here.