Luxembourg > Investment funds
Index of tables
Allen & Overy Luxembourg advises on both UCITS and alternative funds for big-name clients such as BNP Paribas, Morgan Stanley and the European Investment Fund, recently assisting the latter with establishing the Dutch Venture Initiative, a Luxembourg SICAR fund investing in Dutch hi-tech SMEs. Lead practitioners Jean-Christian Six and Pierre Schleimer are very experienced.
Arendt & Medernach has a ‘leading’ team of some 17 partners, with ‘deep knowledge of the technical issues’ and ‘strong relationships with the regulator’. Leading individual Claude Kremer heads the practice, and works alongside the ‘commercial’ Michèle Eisenhuth, Francis Kass and Claude Niedner, among others. Clients range from start-ups to major asset managers.
Clifford Chance ‘always can be relied upon’. Practice head and ‘alternative fund guru’ Joëlle Hauser is ‘outstanding’, has ‘excellent industry knowledge’, ‘understands the market’, and leads a large team of senior counsels and associates. The firm is a regular on headline transactions, recently acting for key client Credit Suisse on the sale of its ETF business to BlackRock.
Clients of Elvinger, Hoss & Prussen include leading international asset managers and financial institutions. The firm is ‘proactive in exploring new legal forms’, and recently advised Grameen Crédit Agricole Microfinance Foundation on a landmark specialised investment fund incorporated as a co-operative and organised as a public limited company. Among the team of 12 partners and counsel are Jacques Elvinger, Jérôme Wigny and the ‘hands-on’ Frédérique Lifrange.
Linklaters LLP has ‘great knowledge and experience in the field’ and is ‘quick at turning around questions’. Individuals highlighted for praise include Hermann Beythan, who ‘easily understands the issues’ and ‘gives good, hands-on advice’, and Freddy Brausch, an ‘expert in the investment funds industry’ who has ‘clear opinions’. The firm advised Invesco on the set-up of a €1bn-target fund for Asian real estate investment. Emmanuel-Frédéric Henrion is also recommended.
The ‘very good’ Bonn & Schmitt boasts an impressive market share of domiciled funds, and both Marcus Peter and senior counsel Corinne Philippe have a solid track record advising in relation to UCITS and alternative funds. The firm established a new fund for EQT, and acted for Carnegie on the creation of a €100m fund for Swedish investors.
Bonn Steichen & Partners is a significant player, advising well-known asset management companies and financial institutions on high-value and complex funds and transactions; recent examples include a €500m target private debt fund, acting for promoter Rothschild. Lead partner Luc Courtois is very experienced.
Dechert Luxembourg ‘consistently provides the best service’, and Antonios Nezeritis is ‘particularly good’; he is one of three expert investment funds partners, the others being the widely respected Patrick Goebel and Marc Seimetz. Clients include Wells Fargo (Lux) Worldwide Fund.
Loyens & Loeff’s ‘good-quality funds team’ has recognised expertise in UCITS and an expanding alternative funds practice, acting for internationally known players. The ‘excellent’ Thibaut Partsch led advice to Vallis Capital Partners on incorporating a €700m fund for investment in Portugal’s construction industry. Marc Meyers is ‘very client-oriented’.
Baker & McKenzie has attracted global asset managers, banks and fund service providers as clients. Recent work includes establishing a UCITS fund for a French asset manager. Laurent Fessmann provides ‘concise, commercial and practical advice without delay’.
Name partners Rémi Chevalier and Olivier Sciales at Chevalier & Sciales specialise in all aspects of funds work, demonstrating ‘a deep understanding of Luxembourg law in investment funds’ and providing an ‘excellent’ service with ‘high attention to detail’. Work included the creation of the Cambodia-Laos Development Fund SIF SICAV, possibly the first private equity fund investing in SMEs in the two African countries.
Kleyr Grasso’ Rina Breininger and Patrick Chantrain advise on both regulated and unregulated funds, particularly within the private equity and hedge fund industry. Highlights included advising Mitsubishi UFJ Global Custody on a new Luxembourg umbrella fund.
MNKS was boosted by the hire of new practice head Max Welbes and his team from Luther. Recent work includes advising a fund management company on the reorganisation of a private equity fund as an umbrella SICAR, a mandate won following competitive tender.
NautaDutilh has undergone a team restructuring following the departure of key partner Pierre Reuter to Hogan Lovells (Luxembourg) LLP; managing partner Josée Weydert now leads the practice. Senior associate Jean-Florent Richard has a ‘strong, problem-solving approach’. Clients include the Fine Art Fund Group.
Wildgen, Partners in Law represents domestic and foreign investors and financial services institutions. Practice head Samia Rabia led advice to Moor Park Capital Partners on the acquisition of a €1bn UK hospital portfolio via several funds established in Luxembourg. The service provided is ‘excellent’.
CMS has a steady practice under Vivian Walry, who ‘tries to find a way to make things work that at the beginning seem impossible’. The firm advises funds and investors on regulatory matters and fund set-ups, among other areas; clients include a Polish financial institution and a UCITS management company.
New entrant Hogan Lovells (Luxembourg) LLP already has a following among funds, thanks to the standing of practice head Pierre Reuter in the market. The firm acted for Pareto Forvaltning on the launch of one of the first UCITS master-feeder structures.
King & Wood Mallesons SJ Berwin is building a funds practice that is ‘robust, responsive and well priced’. Clients include some major players in the industry. Alexandrine Armstrong-Cerfontaine has ‘very good knowledge of fund regulation and set-up issues’.
Jeannette Vaude-Perrin now heads the practice at Luther, following the departure of Max Welbes and some associates to MNKS. Vaude-Perrin joined from leading firm Arendt & Medernach and is ‘Luxembourg’s best-kept secret’, with ‘an excellent track record and real experience in fund structuring and cross-border financing’.
Michel Molitor heads a cross-disciplinary team at Molitor Avocats à la Cour, which ‘performs as well as or better than many other big law firms’. Recent client gains include a domestic private bank.
The experienced Ezechiel Havrenne heads the practice at OPF Partners, with strong support from the firm’s corporate and tax partners. Havrenne joined the firm from Loyens & Loeff. CVC Capital Partners and GI Partners are clients.
Offshore firm Ogier has made its presence felt in its first year in the jurisdiction. The firm is gaining notable market share under the leadership of François Pfister.
Speechly Bircham’s David Louis is building a solid practice in the alternative investments market, and ‘makes the most difficult concepts easier to understand’ as well as showing ‘strong drive and commitment to deliver’. The firm recently established a SIF for a big-name fund.
Vandenbulke set up a new fund for a boutique Spanish management company, and is a regular adviser to a UK real estate investment and asset management company on matters throughout Europe. Denis Van Den Bulke and Laurence Jacques are recommended.
Newly established firm Deynecourt comprises the bulk of the funds team from Rutsaert Legal. The ‘expert boutique law firm’ is led by Pierre de Backer, who has ‘detailed knowledge of both the law and current industry issues’. Clients include Rothschild Bank, Pictet & Cie, and All Seasons Capital Management.
Linari Law Firm has a focused practice under Vincent Linari-Pierron, punching above its weight in advising a mix of international companies and funds. The service is ‘just perfect’.
Boutique firm M Partners’ five-lawyer team is led by the internationally experienced Vanessa Molloy, who is noted for her alternative investment fund expertise. The practice recently advised on the set-up of funds ranging in value between €5m-€100m.
SJL | Sedlo Jimenez Lunz acted for Blackstone on setting up and structuring a specialised fund investing in a portfolio of €2.2bn infrastructure loans. Former partner Christophe Clément recently founded Clément & Avocats.