Luxembourg > Investment funds
Index of tables
Jointly headed by Pierre Schleimer and Jean-Christian Six, Allen & Overy Luxembourg’s two-partner team gives ‘pragmatic advice’ to alternative funds and has been particularly busy assisting clients in complying with the Alternative Investment Funds Managers Directive (AIFMD), including Tishman Speyer and LaSalle Investment Management in the real estate sector. Renaud Graas and Yannick Arbaut are ‘knowledgeable and hardworking’.
With 11 partners focused on the investment funds sector, Arendt & Medernach has the critical mass to handle work throughout the lifecycle of a broad range of funds, including hedge funds and UCITS, as well as real estate and private equity funds. Michèle Eisenhuth has been advising CaixaBank on establishing and operating its first investment fund in Luxembourg. Practice head Claude Kremer, Claude Niedner, Gilles Dusemon and Isabelle Lebbe are recommended.
FIRMS IN THE SPOTLIGHT
Chevalier & Sciales
Chevalier & Sciales celebrates 10 years of existence this year. It has strong expertise and in-depth knowledge of investment and asset management, providing comprehensive advice on legal and regulatory issues for asset management firms and investment funds. Their interdisciplinary approach assists clients with the organisation, establishment and operation of investment funds, including retail and sophisticated UCITS, master-feeder structures, Specialised Investment Funds, closed-ended funds, hedge and private equity funds, as well as the negotiation of service and management agreements.
Often working closely with practitioners in complementary practice groups including tax, as well as in concert with the firm’s office internationally, Clifford Chance provides a strong proposition to alternative fund clients on the structuring of funds targeting real estate, private equity, infrastructure or debt. Joëlle Hauser recently advised AXA Real Estate Investment Managers on the establishment of a specialised investment fund umbrella in the form of a Luxembourg limited partnership composed of one sub-fund with a real estate debt investment strategy. Paul Van den Abeele is also recommended.
Elvinger Hoss Prussen has ‘significant market penetration’ in UCITS and alternative funds and has been involved in structuring and compliance issues in light of numerous EU directives including MIFID II and UCITS V. Jérôme Wigny and Sophie Dupin assisted Wells Fargo Group with establishing a Luxembourg-based UCITS management company and the reorganisation of its Luxembourg funds portfolio. Gast Juncker and Jacques Elvinger are also recommended.
Headed by Hermann Beythan, Linklaters LLP’s three-partner team displays ‘outstanding industry knowledge and business acumen’ and acts for funds across a wide variety of asset classes. Managing partner Freddy Brausch is ‘a leading light in the funds industry’, who, along with Beythan, advised Swiss & Global on the AIFMD upgrade of products and the migration of all Luxembourg fund platforms to a new depositary bank and administrator. Emmanuel-Frédéric Henrion is the other partner in the team, while counsel Rodrigo Delcourt is ‘exceptional and provides practical and precise advice’.
Bonn & Schmitt is regularly involved in the creation of new specialised investment funds in the alternative space, as well is in relation to UCITS and SICARs. Practice head Marcus Peter advised Pramerica Real Estate Investors on the creation of a Luxembourg real estate investment fund. Senior counsel Corinne Philippe is also recommended.
Bonn Steichen & Partners is active in both the regulated and unregulated space and represents investment managers and fund promoters across a broad array of work throughout the fund lifecycle, from structuring through to termination. Practice head Luc Courtois focuses on UCITS and Evelyn Maher represents international clients in the structuring and establishment of alternative investment funds.
Headed by Marc Seimetz, Dechert Luxembourg’s four-partner team provides ‘an excellent service’ to standalone clients and those which flow from the firm’s huge international network, which also has teams in London and Dublin – two other major EU fund jurisdictions. The firm’s expertise runs the gamut from incorporation and regulatory compliance through to fund distribution. Johan Terblanche advised Babson Capital Management on the establishment of a European fund platform to invest in global credit. Patrick Goebel is also recommended.
Loyens & Loeff is ‘excellent in the alternative funds space’, specifically in real estate, infrastructure, private equity and hedge funds, and can leverage the firm’s robust tax practice. Thibaut Partsch and team head Marc Meyers are recommended.
Led by Laurent Fessmann, Baker & McKenzie has particular traction in the alternative funds space, most notably for real estate funds. Work includes fund formation, regulatory and distribution advice.
The ‘professional and hardworking’ team at Chevalier & Sciales is ‘perfectly suited for fund managers planning to go to Luxembourg’. Olivier Sciales and senior associate Cécile Rechstein provide ‘high-quality advice’ across a range of funds work, including the establishment and restructuring of UCITS and SIFs.
Hogan Lovells (Luxembourg) LLP provides ‘helpful and dedicated’ advice to a broad range of funds including UCITS, SIFs and SICARs in their establishment, marketing and operation. The ‘excellent’ Pierre Reuter heads the team.
The ‘helpful and knowledgeable’ team at Kleyr Grasso acts for an impressive roster of private equity and hedge funds on their structuring and concomitant regulatory issues. Patrick Chantrain has been advising GSO Capital Partners on AIFMD compliance. Rina Breininger, Jean-Paul Spang and counsel Sophie Arvieux are ‘very responsive and knowledgeable’.
Wildgen, Partners in Law has ‘in-depth knowledge of the funds area’, covering alternative investment funds and retail funds. Mevlüde-Aysun Tokbag gives ‘practical’ advice to German clients doing business in Luxembourg, and team head Samia Rabia is ‘very competent and experienced across the entire funds area’.
CMS handles a range of work within the alternative funds space, including structuring and regulatory advice. Team head Françoise Pfeiffer and Vivian Walry recently advised on the structuring and launch of two parallel funds investing in European hydropower plants.
Dentons provides structuring and regulatory advice to regulated and unregulated private equity investment vehicles, real estate funds, funds of funds, master-feeder structures and UCITS funds. The team is now headed by Jeannette Vaude-Perrin, following Ezechiel Havrenne’s move to NautaDutilh.
Alexandrine Armstrong-Cerfontaine at King & Wood Mallesons is ‘responsive and flexible’, and is qualified to practise in Luxembourg, the UK and France. Core areas of practice are high-end private equity fund structuring and advising global clients on AIFMD regulatory issues.
NautaDutilh was recently bolstered by the arrival of Ezechiel Havrenne from OPF Partners, who now heads the group. The firm advises clients on all aspects of fund formation, structuring and regulatory compliance.
Ogier advises regulated and unregulated funds and their managers on fund formation, structuring, taxation and regulatory issues. François Pfister heads the team, which was strengthened by the recruitment of senior associate Marc Lenaers from BNP Paribas.
David Louis heads Charles Russell Speechlys’ team, which advises a broad range of funds including UCITS and unregulated securitisations vehicles on their structuring, formation, marketing and ongoing operation. Recent highlights include advising Norama Fund on AIFMD compliance. Other clients include ACPI, Vina Capita Asset Manager and Nokia Growth Partners.
LexField’s Philippe Muller is ‘very helpful on the legal developments in the funds industry’ and heads a team that is praised for the ‘clear and pragmatic’ advice it provides on the structuring and restructuring of UCITS, hedge funds, private equity and real estate funds.
At Linari Law Firm, team head Vincent Linari-Pierron is ‘an excellent strategist and has in-depth market knowledge’. He is supported by Guillaume Deflandre, who shows ‘a real attention to detail’.
M Partners’ Vanessa Molloy has substantial experience advising hedge and other alternative funds on structuring and regulatory issues.
At SJL | Sedlo Jimenez Lunz, practice head Adrian Sedlo has an excellent reputation for the structuring of funds and advising on regulatory issues affecting the alternative funds industry, notably in relation to AIFMD. Clients include Deutsche Bank, Aviva Investors and Arminius Funds Management.
Headed by Stéphane Ober, Simmons & Simmons LLP In Luxembourg’s five-partner team has hit the ground running and provides ‘an excellent and knowledgeable service’ to hedge funds and private equity firms, in particular, across an array of structuring, regulatory and operational concerns. Clients also benefit from the office’s ability to leverage the firm’s strong European funds practice in other offices in the network.