Investment funds in Luxembourg
Allen & Overy Luxembourg
The 'highly technical and approachable' team at Allen & Overy Luxembourg excels in the structuring and ongoing operation of Luxembourg regulated and unregulated funds for institutional and non-institutional investors. Praised for his 'hands-on and personal approach', Jean-Christian Six has a particular focus within the alternative funds sphere. Yannick Arbaut, who was recently promoted to the partnership, is appreciated by clients for his 'impressive overall knowledge of the Luxembourg investment funds framework', and is a key member of the team that also includes 'technically excellent' counsel Joanna Pecenik.
The 'results-oriented and commercial' team at Arendt & Medernach has 'very broad knowledge' of both unregulated and regulated funds. The firm is, however, best-known for its prowess in the UCITS area, and is able to deploy vast resources focused on the regulatory, structuring and operational needs of clients. The 'knowledgeable and professional' Isabelle Lebbe is a 'joy to work with', and has been providing ongoing advice to Generali on the day-to-day management and development of their UCITS and alternative products in Luxembourg. Praised for her 'clarity of thought', Florence Stainier is developing an excellent rapport with clients, including Merrill Lynch Investment Solutions, which she recently assisted in the creation of a UCITS sub-fund, which gains exposure to commodities by purchasing eligible delta-one fund-linked notes. Claude Kremer and Claude Niedner both have excellent reputations for UCITS-related work, in particular, and are pivotal members of the team that also includes alternative funds expert, Gilles Dusemon, and the 'analytical and knowledgeable' Henning Schwabe.
'Very well-connected' to other international offices throughout the firm's network, Clifford Chance's 'hardworking and efficient' two-partner team excels at handling complex cross-border alternative funds matters, where it is praised for its 'superb understanding of international standards and best practice'. Team head Joëlle Hauser has 'outstanding knowledge of the fund industry' and has vast expertise across many types of alternative investment structures, including as they relate to real estate, debt and private equity. The 'extremely commercial' Paul Van den Abeele excels at structuring international funds, including real estate, private equity and debt funds investing in Asia. Described as a 'pleasure to work with', counsel Kristof Meynaerts has 'sound technical knowledge' across real estate, private equity and debt funds, in particular. Senior associate Alexander Wagner is also recommended.
A stalwart of the Luxembourg legal market, Elvinger Hoss Prussen has expertise across the spectrum of fund matters on behalf of a varied array of clients, ranging from boutique investment houses to large international fund promoters. Although it does handle retail work, the team is best-known across the panoply of alternative funds; Jérôme Wigny and Sophie Dupin have been busy establishing alternative investment fund managers for numerous international funds, including BC Partners and ICG. Gast Juncker has vast experience across fund structuring and regulatory matters, particularly with an Asian nexus. He has also been particularly active recently advising funds on relocation strategies post Brexit. On the transactional front, the 'outstanding' Toinon Hoss excels at private equity M&A work. Other recommended practitioners include Jacques Elvinger, Joachim Cour and counsel Jean-Pierre Mernier.
Deeply integrated within the firm's tax, investment funds and financial services regulatory teams across its vast global network of offices, Linklaters' three-partner practice provides a 'high-quality service' to clients across all types of investment products, including regulated, unregulated, managed accounts and tailored single investor solutions. The team is at the cutting edge of market developments and, led by Hermann Beythan and Silke Bernard, recently advised AnaCap Partners on its first ever-high yield bond issuing reserved alternation investment fund. Bernard has a particular focus on alternative funds, and recently advised Aberdeen Standard on the structuring and set up of a large open-ended Pan-European core real estate fund. Freddy Brausch is also recommended.
Benefiting from 'deep market and regulatory knowledge', Loyens & Loeff provides 'sophisticated and straightforward advice' to managers on the establishment and ongoing operational needs associated with their alternative funds. The 'very proactive' Thibaut Partsch is particularly adept at structuring private equity and infrastructure funds on behalf of prestigious clients, including EQT Partners and Apax Partners. The 'very strategic' and 'thoughtful' Marc Meyers 'is extremely knowledgeable about the law and the important developments impacting the industry'. Meyers 'knows the market and the players very well', and is recognised in particular for his real estate and private debt fund expertise. Max Welbes is also recommended, particularly on the structuring of more liquid funds.
Led by the 'commercially minded and solutions-focused' Laurent Fessmann and Catherine Martougin, Baker McKenzie's two-partner team effectively leverages the expertise of lawyers across the firm's network to provide a strong service to sponsors, investors and financial institutions on the structuring and ongoing operation of alternative investment funds. Recent highlights include advising BNP Real Estate on the establishment of a new €300m pan-European logistics fund. The team also has niche expertise in sovereign wealth funds.
Strengthened by the recent arrival of the 'highly professional' Jeannette Vaude-Perrin from Dentons, Bonn & Schmitt's three-partner team has significant strength-in-depth, enabling it to handle the structuring and ongoing operational needs of clients across the spectrum of retail and alternative regulated and unregulated funds. Alex Schmitt and senior counsel Philippe Corinne have provided ongoing advice to BG Fund Management Luxembourg and its three Luxembourg funds, including on the creation of new UCITS’ sub-funds and the merger of nine UCITS’ sub-funds. Other clients include Fideuram Group, UBI Banca and Carnegie.
Led by Luc Courtois, Bonn Steichen & Partners' two-partner team acts for investment managers and fund promoters across the investment life-cycle, from fund establishment, through to ongoing operational and regulatory requirements, and fund termination. Active across both retail and alternative fund segments of the market, Courtois is regularly instructed by clients to review their current investment platforms with a view to potentially rearranging and consolidating, in order to maximise efficiencies and profitability. He recently advised the alternative investment fund management of Italian asset manager, The Fondaco Group, by the request of institutional investors, on the potential for establishing a Luxembourg-domiciled specialised investment fund investing in Italian non-performing loans. Evelyn Maher is also recommended.
Benefiting from strong ties with the regulator, as well as 'excellent intel' across the international fund market by virtue of the firm's offices in many of the major fund domiciles, Dechert Luxembourg's four-partner team provides 'effective advice' to clients operating across the full spectrum of the alternative and retail funds markets. The 'outstanding' Patrick Goebel has a 'large and loyal local client following', who appreciate his broad-ranging experience across UCITS, regulated non-UCITS funds and non-regulated funds. Team head Marc Seimetz 'goes the extra mile for clients' and is also recommended. Clients include Columna Capital, Gemcorp Capital Management and Cheyne Capital Management.
Chevalier & Sciales provides 'solution-oriented and responsive' advice to asset managers and investors across the spectrum of UCITS and alternative funds. The 'very knowledgeable' Rémi Chevalier recently advised a real estate fund on amendments to the features of some of its sub-funds. Olivier Sciales is also recommended.
Able to effectively handle complex cross-border alternative funds work by virtue of a 'business-oriented and practical' offering out of Luxembourg and abroad, Hogan Lovells (Luxembourg) LLP is particularly active in the real estate, private equity and infrastructure fund sectors. The 'excellent' Pierre Reuter recently worked alongside the London office on behalf of Infracapital Partners on all aspects of the launch of their third brownfield infrastructure fund.
Bolstered by a number of recent hires at an associate level, NautaDutilh now has the firepower to handle an increasingly large volume of mandates across both the UCITS and alternative investment funds sectors. Team head Ezechiel Havrenne overseas the most significant work handled by the team, including handling several multi-billion-euro cross-border and national fund mergers on behalf of a large European asset manager.
With three partners locally based, and recently enhanced by the establishment of a representative office in London, Wildgen is well-positioned to advise on the structuring and distribution of regulated and unregulated funds. 'Business-oriented' team head Samia Rabia is particularly well-regarded for her real estate fund-related work. As part of his broad-ranging practice, Antonios Nezeritis regularly assists clients with the registration and ongoing compliance process for foreign UCITS and alternative investment funds in Luxembourg and the listing for Luxembourg investment funds on the Luxembourg Stock Exchange.
The 'dynamic and professional' team at KLEYR GRASSO provides 'accurate and in-depth advice on the structuring and establishment of funds, as well as associated regulatory matters'. The team is particularly accomplished in relation to the private equity and real estate spaces. Counsel Renata Jokubauskaite is appreciated for her 'flexible, responsive and professional advice'. Patrick Chantrain left the firm.
Led by François Pfister, Ogier's two-partner team provides 'responsive, commercial and focused advice' to promoters and fund managers, particularly in relation to structuring and regulatory issues associated with private equity and other alternative asset classes. Recently promoted partner Anne-Gaëlle Delabye has particular expertise on the structuring of debt, real estate and private equity funds.
Since its establishment at the beginning of 2017, Stibbe has grown significantly, and with six practitioners focused on funds work it is able to resource an increased volume and complexity of mandates effectively. The firm continues to handle a significant amount of work for the European Investment Fund and European Investment Bank (EIB) in their roles as limited partners in funds.
Implementing a multi-disciplinary approach which effectively taps into resources within the firm's corporate, tax and finance practices, VANDENBULKE is well-positioned to handle work across the life cycle of alternative funds work, from initial fund formation through to advice on subsequent investments. Managing partner Denis Van den Bulke is recommended.
Charles Russell Speechlys
Charles Russell Speechlys provides 'agile and pragmatic advice' across the gamut of issues affecting funds in the alternative sector. 'An expert in his field', team head David Louis has 'sound technical knowledge' and recently advised Baum Management on the restructuring of an existing fund by transferring it into a closed-ended structure.
At Deynecourt, Emmanuelle Bauer advises Rothschild & Co and Rothschild Wealth Management UK across a range of matters, including advice on regulatory issues in relation to its flagship private client fund, R Wealth Management SICAV SIF. Pierre De Backer handles both structuring and M&A work for alternative investment funds. Other clients include Carlisle Management Company, Novastone Capital and MG Real Estate.
GSK Stockmann (GSK Luxembourg SA) handles structuring for alternative funds (including private equity and real estate funds) and UCITS, as well as on their day-to-day operational requirements. Dr Marcus Peter recently acted for Foresight on the creation of a debt fund in Luxembourg. Arne Bolch is also recommended. Other clients include BayernInvest Luxembourg, Brunswick Capital and Stronghold Capital.
Combining an 'excellent knowledge of local legal and regulatory issues, with sharply focused commercial advice', Linari Law Firm handles a range of alternative funds-related structuring work. The 'commercial and pragmatic' Vincent Linari-Pierron and 'detail-oriented' Deflandre Guillaume are recommended.
In spite of the recent departure of Julie Thai, who went in-house to Fidelity, Luther S.A. maintains a significant offering out of Luxembourg, and recently enhanced its team at an associate level as a result of numerous hires, including Edouard Albaret from Dechert Luxembourg. Led by the 'knowledgeable and supportive' Hervé Leclercq, the team's focus is on advising both general and limited partners on mid-market alternative investment funds. Clients include ABN Amro, Secured Lending Fund and Square Asset Management.
Now headed by the 'pragmatic and client-oriented' Augustin de Longeaux, following his arrival from MOLITOR Avocats à la Cour SARL in May 2018, Simmons & Simmons in Luxembourg's revamped investment funds team provides a 'responsive and proactive' service across the spectrum of regulatory, structuring and operational concerns of alternative investment funds. Thierry Somma , who joined in April 2018 from Hogan Lovells (Luxembourg) LLP, is recommended for investment-fund-related corporate work.