The Legal 500

Arendt & Medernach is the ‘number one adviser in this area’ according to one client, and the firm was further enhanced by the arrival of private equity fund specialist Gilles Dusemon from Loyens & Loeff in August 2010. The large and broad practice is well known for UCITS, real estate and private equity funds. In the UCITS arena, it now acts for many of the leading hedge fund managers. Claude Kremer, Claude Niedner, Isabelle Lebbe and regulatory specialist Michèle Eisenhuth are all recommended.

Elvinger, Hoss & Prussen has a ‘broad range of expertise’, thanks to the wide-ranging skills of its partners, its longstanding connections to promoters and fund managers, and the regulator. The firm is particularly well known for UCITS work. It recently acted for Singapore’s Fullerton Fund Management on the establishment of its Luxembourg UCITS platform. It is also active in the SIF, private equity and real estate funds arenas. Jacques Elvinger, Gast Juncker, Jérôme Wigny and Frédérique Lifrange are all highly recommended.

Hermann Beythan now leads Linklaters LLP’s ‘outstanding’ investment funds practice. The firm represents many of the world’s leading promoters and fund managers, and is closely associated with the UCITS III regime. It is also equally capable in relation to SIFs, private equity and real estate funds. The firm recently represented Aviva Global Investors on its takeover of BlackRock Investment Manager’s real estate fund of funds. Freddy Brausch, Emmanuel-Frédéric Henrion and counsel Josiane Schroeder are also recommended.

Allen & Overy Luxembourg provides a ‘fast and efficient service’, with Jean-Christian Six and counsel Patrick Goebel (‘really helpful’, ‘excellent’) as the standout practitioners. The firm recently advised the sponsors on the setting-up of the Marguerite Fund, a pan-European infrastructure fund. The broad practice covers a variety of funds including SICAFs, SICAVs and SIFs. Pierre Schleimer is recommended for regulatory issues.

Dechert Luxembourg’s principle practice area in Luxembourg is investment funds, covering matters such as UCITS, hedge funds, private equity funds and SIFs. The firm is particularly well-equipped in relation to master feeder structures, notably for the US market. The firm has a mighty roster of institutional and fund manager clients. Department head Marc Seimitz is one of the key names in this market.

Kremer Associés & Clifford Chance is widely commended for its work in the real estate and private equity funds segment. Needless to say, the practice is much broader than this, with the firm advising Algebris in connection with a Luxembourg SICAV-SIF feeder fund for investing in equity and debt securities. Joëlle Hauser is highly recommended.

Bonn Schmitt Steichen acts for a variety of fund managers and entities within the funds industry. The practice is strong in regulated and non-regulated funds, and has recently acted on the merger of two UCITS management companies, Generali Investments Luxembourg and BG Investment Luxembourg. The firm is also active in the restructuring of UCITS. Luc Courtois and Corinne Philippe are recommended.

Kleyr | Grasso | Associes has a strong focus on private equity funds. In January 2010, the firm advised GSO Capital Partners on the launch of two new Luxembourg investment structures. The firm is also particularly active in relation to the restructuring of debt for private equity funds. Rina Breininger and Patrick Chantrain are the key names.

Loyens & Loeff has an excellent reputation for structuring and setting-up investment funds, most notably the private equity and SICAV-SIF environments. Gilles Dusemon’s departure to Arendt & Medernach was a blow to the department, and Marc Meyers has now taken responsibility for the banking and finance department. Counsel Thibaut Partsch has a fine reputation.

NautaDutilh is gaining ground in the market thanks in part to its record in the UCITS environment. Pierre Reuter is ‘excellent’, ‘very knowledgeable with respect to Luxembourg regulatory matters’, ‘commercial’ and ‘very client oriented’. Overall, clients value the team’s ‘focus on the project’, ‘response times’, and ‘knowledge in the field’. The firm recently advised Norwegian asset manager Pareto Forvaltning in setting-up its first Luxembourg UCITS.

Noble & Scheidecker’s ‘very responsive’, ‘less formal’ and ‘understanding’ team is commended for its corporate governance expertise. Katia Scheidecker is praised for her ‘focus on important items’ and ‘to the point’ advice. The firm has an excellent record in relation to UCITS, SIF, SICAR and SICAV products.

OPF & Partners is principally engaged in the private equity and real estate sectors. This includes longstanding involvement with the large Fortis Direct Real Estate Fund SICAV. François Pfister and Harold Parize are the lead partners.

Wildgen, Partners in Law has a broad-ranging funds practice that includes both regulated and non-regulated products. The firm’s sophisticated expertise was illustrated by advising a client on the creation of a fund platform dedicated to Sharia investment. In this respect, Samia Rabia is highly regarded.

Baker & McKenzie has ‘good knowledge of the market and a solid understanding of clients’ needs’. Clients credit ‘dedicated partner’ Laurent Fessmann, who is commended for private equity work, non-retail hedge funds and real estate funds. The firm is particularly known for the formation of regulated investment funds and alternative funds (including carbon and renewable energy funds).

CMS DeBacker Leclère Walry is commended for ‘tax driven investment structures into German real estate’. Clients praise the firm’s structuring, tax and regulatory expertise, as well as its ‘responsiveness’, ‘efficiency’ and ‘focus on quality services’. Julien Leclère and Vivian Walry are ‘outstanding’ and have built a ‘strong team’.

Chevalier & Sciales is recommended for hedge fund and private equity work, including detailed knowledge of the UCITS environment. Olivier Sciales is highly recommended.

At M Partners, Vanessa Molloy is a genuine investment funds specialist with particular expertise in hedge funds and other alternative investment products. The firm recently advised Heptagon Capital in connection with a setting-up of a Cayman Islands platform.