The Legal 500

Luxembourg

Luxembourg > Investment funds

Index of tables

  1. Investment funds
  2. Leading individuals

Leading individuals

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 Chancealways 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 goodBonn & 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 Luxembourgconsistently 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 | Associes’ 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.

SJLC | Sedlo Jimenez Lunz Clement acted for Blackstone on setting up and structuring a specialised fund investing in a portfolio of €2.2bn infrastructure loans. The hire of tax specialist Christophe Clément was a boost to the practice.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Luxembourg for Investment funds

  • Luxembourg prepares for central role as AIFMD finally takes effect

    As, after more than four years of preparation, the European Union's Alternative Investment Fund Managers Directive takes full effect for existing managers, Luxembourg finds itself in the position it wanted to be in - ideally placed to become a domicile and servicing platform for alternative funds distributed across borders in the same way that it has become for traditional retail funds under the UCITS regime.
    - Chevalier & Sciales

Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Exempted Limited Partnership Law, 2014

    The Exempted Limited Partnership Law, 2014 (the New ELP Law ) has replaced the Exempted Limited Partnership Law (2013 Revision) (the Previous Law ). The New Law includes significant changes to the Cayman Islands' statutory framework regulating exempted limited partnerships ( ELPs ) that will increase the attractiveness of ELPs and will be appreciated by managers, investors and creditors alike. Private equity sponsors in particular will notice substantial improvements that are indicative of Cayman's continuing commitment to balanced and commercially sensible legislation. Read more...
  • Restructuring and insolvency in Luxembourg (part 2)

    RESTRUCTURING - COURT PROCEDURES
  • Enhancements to the Companies (Jersey) Law 1991

    On 23 May 2014, the States of Jersey passed the Companies (Amendment No. 11) (Jersey) Law 201- (the Amendment Law ).  This will now be sent to the UK Privy Council for consideration, then laid before the States of Jersey for a final time before coming into force.  The latest information we have is that the Privy Council will be approving the law on 19 July 2014 and it may come into effect as soon as 4 August 2014.
  • Joost Fanoy appointed partner at BarentsKrans

    The Hague, 4 July 2014 - BarentsKrans has appointed Joost Fanoy as a partner in the Antitrust & Public Procurement department, effective as of July 1, 2014. Joost specializes in European law in general with a particular focus on European and Dutch competition, public procurement and state aid law and is the head of the Antitrust and Public Procurement Practice Group. Joost is also a member of the Cartel damages team of BarentsKrans.
  • PineBridge Acquires 50% Stake in Romatem

    PineBridge Investments Middle East, a global multi-asset class investment manager with regional headquarters in Bahrain, and nearly 60 years of experience in emerging and developed markets, has acquired a 50% equity stake in Romatem, the leading physical therapy and rehabilitation services chain in Turkey.
    - Paksoy
  • Isbank Issued USD 750 Million Notes

    Isbank issued 750 million USD notes under its GMTN programme established in 2013. The notes are listed on the Irish Stock Exchange and bear interest at the rate of 5 % with a maturity date 2021. Mr. Omer Collak (partner) and Mr. Baris Kencebay (head of tax practice) have acted for the joint lead managers Barclays, Citigroup, HSBC, National Bank of Abu Dhabi and The Royal Bank of Scotland.
    - Paksoy
  • Halkbank Issued USD 500 Million Notes

    Halkbank issued five-year term fixed interest rate US currency notes, with a total amount of USD 500 million  with an interest rate of 4.765 %  and an annual coupon rate of 4.750 %. The notes offered the lowest borrowing rate in the first five-month period of 2014, and total demand rose nearly nine-fold due to high investor interest. The note issuance drew great interest from international investors settled in the Middle East and Asia, as well as those investors based in the US and Europe. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised the joint lead managers.
    - Paksoy
  • Turkiye Finans to Issue Ringgit Sukuk to Raise Up to MYR 3 Billion In Malaysia

    Turkiye Finans issued the first ringgit sukuk originating from Turkey. The bank initially raised MYR 1 billion with a five-year commodity sukuk on June 30, with an annual return of 6 %. The sukuk under the programme will have tenure of one to 20 years. Funds raised will go towards general corporate purposes. The sukuk will be issued through TF Varlik Kiralama A.S., a wholly-owned subsidiary of Turkiye Finans. Malaysia's RAM Ratings has accorded the programme an indicative long-term rating of AA3. HSBC Amanah Malaysia and Standard Chartered Saadiq were the joint advisers. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised Turkiye Finans and the issuer TF Varlik Kiralama A.S.
    - Paksoy
  • Ziraat Bank Established GMTN Programme to Issue Bonds Worth USD 2 Billion

    Ziraat Bank, the largest state owned bank of Turkey, established GMTN programme on 21 May 2014, for the notes to be issued up to  USD 2 billion listed on Irish Stock Exchange. The notes are unconditional, unsubordinated and unsecured obligations, and rank  pari-passu with Ziraat Bank's other senior unsecured obligations.
    - Paksoy
  • Vakifbank Sells EUR 500 Million Notes Under USD 5 Billion GMTN Programme

    Vakifbank issued EUR 500 million 5-year unsecured and unsubordinated notes under the first GMTN programme of Turkey established in 2013. The notes are listed on Irish Stock Exchange and bear interest at the rate of 3.5 % p.a. with a maturity date 17 June 2019. This is the very first EUR denominated RegS offering of a Turkish entity.
    - Paksoy