A virtual panel discussion at the recent Association of the Luxembourg Fund Industry (ALFI) Rentrée program offered perspectives from E.U. funds industry professionals on the current state of the market for alternative investment funds in Europe, exploring allocation preferences, trends in fund structures, the impact of the ongoing coronavirus pandemic, the continuing spread of responsible investing and the success of the Alternative Investment Fund Managers Directive. Robert White, partner at EY, moderated the discussion, which featured Paul Bashir, CEO of Harrison Street Europe; Markus Benzler, global head multi-manager private equity at UBS; Peter Veldman, head of fund management at EQT; and Jérôme Wigny, partner at Elvinger Hoss Prussen. This article outlines the speakers’ key insights. For coverage of another recent program from ALFI, see our two-part series “Navigating Changing E.U. Distribution, Marketing and AML Rules”: Part One (Jun. 11, 2020); and Part Two (Jun. 18, 2020).