After substantial deliberation, a final draft of the 2.0 version of the Alternative Investment Fund Managers Directive (AIFMD) was agreed to by representatives of the European Parliament, the Council of the E.U. and the European Commission. The revisions in AIFMD 2.0 aim to modernize the regulations to account for the impact of Brexit, problems surfaced during the coronavirus pandemic and other developments in the private funds industry. Several notable items were not addressed, however, including any updates to the third-country passporting provisions in AIFMD 1.0. The tenets of AIFMD 2.0 were discussed in a recent conference hosted by Dechert, which featured partners Patrick Goebel (Luxembourg), Christine A. Renner (Luxembourg), Angelo Lercara (Munich), Colin Sharpsmith (London) and Cyril Fiat (Paris). This second article in a two-part series analyzes relevant changes affecting loan origination funds, fallout from the lack of revisions to marketing practices under AIFMD and the ramifications of a handful of omitted items under the new rules. The first article detailed material changes to the delegation requirements under the new rules, updates to the Annex I services and certain issues introduced by mandated liquidity management tools. For coverage of other recent E.U. regulations, see “Exploring the Current Status and Practical Difficulties of Implementing the E.U. Sustainable Finance Initiatives” (Jun. 7, 2022); and “ELTIF II: European Retail Fund Structure for Alternative Investments Receives an Overhaul to Spur Adoption” (Mar. 23, 2023).