The Legal 500 > Europe, Middle East & Africa > Luxembourg > Investment funds

Benefiting from a 'good depth of knowledge in respect of funds, tax, regulatory and compliance', Arendt & Medernach does an 'excellent job of applying legal concepts to operational issues' across the gamut of unregulated and regulated funds. 'A one-stop-shop for all needs related to Luxembourg funds', the team remains best-known for its prominent UCITS offering, and in this regard Isabelle Lebbe recently acted for a leading bank in the context of a cross-border merger of UCITS funds (from Luxembourg to France). The sheer size of the firm's offering as well as its ability to provide 'extremely commercial and solution-driven advice across the board' ensures  that it can handle a tremendously diverse array of work, not just across UCITS matters but also in relation to hedge funds, private equity funds, real estate funds and Islamic funds. The 'very reliable and well-informed' Gilles Dusemon excels in handling work related to the structuring and operational needs of private equity and real estate funds. Other key names include the 'vastly experienced' Claude Kremer, Florence Stainier and Adrian Aldinger, who 'is a go to source for practical and reliable insights' in relation to alternative investment funds.

With three partners focused on funds work out of the firm's Luxembourg office and also able to leverage the expertise of practitioners across its vast global network, Clifford Chance has 'in-depth all-round knowledge across a multitude of issues' and excels in handling complex cross-border alternative fund matters. Paul Van den Abeele has a flourishing reputation in the market across the gamut of alternative funds, including real estate, private equity, infrastructure and debt, and is also regularly engaged on the buy-side for institutional and sovereign investors on fund reviews. Kristof Meynaerts' recent promotion to partnership is testament to his growing visibility in the regulated and unregulated alternative asset class space, while the arrival in January 2019 of the very experienced Emmanuel-Frédéric Henrion from Linklaters affords the firm greater bandwidth, particularly in light of Henrion's UCITS focus. Senior associate Alexander Wagner is also recommended. The firm has also been very active advising asset managers on strategic issues related to the fall out from Brexit. Joelle Hauser recently retired.

Benefiting from 'excellent knowledge and valuable connections with legislators and regulators', Elvinger Hoss Prussen is a 'market leader' across the investment funds space, particularly as it pertains to the retail sector. Team head Jacques Elvinger is a 'true gentleman' and a senior statesman of the investment fund industry in Luxembourg, particularly as it relates to UCITS matters. The 'client-oriented and well-connected' Gast Juncker has 'excellent knowledge' of the regulatory framework impacting funds domiciled in Luxembourg and has also been pivotal to the firm's increased presence among Asian asset managers. Jérôme Wigny provides 'high-quality advice' to UCITS and AIFs, particularly in relation to those pursuing alternative strategies. The team was furthermore strengthened with Thibaut Partsch , who joined from Loyens & Loeff in January 2020.

With two partners based in Luxembourg and also able to call upon the expertise of funds experts across the firm's vast global network, Baker McKenzie provides a 'good balance between local and international advice'. The team has a focus on the structuring, operational and regulatory issues associated with alternative asset classes, including private equity and real estate. Catherine Martougin and Laurent Fessmann are the main contacts.

The 'proactive and client-oriented' three-partner team at Bonn & Schmitt handles the structuring and ongoing operational needs of clients across the spectrum of retail and alternative regulated and unregulated funds. The firm is particularly active within the UCITS space, including advice on the creation of sub-funds, and is also well-versed at structuring SICAR vehicles. Recently promoted partner Amélie Thevenart 'has a deep knowledge of the fund industry in Luxembourg, Italy and across Europe'.  

Bonn Steichen & Partners provides 'very professional legal advice with great responsiveness and deep insight into the practice of investment funds establishment and operations'. The firm is involved across the lifecycle of work within the regulated and unregulated UCITS and AIFs space, from fund establishment and ongoing operational matters, through to downstream investments and fund termination. Evelyn Maher 'has a great deal of experience in both private equity funds establishment and operations'. Luc Courtois joined NautaDutilh in 2020.

'Very well-qualified in relation to alternative funds', Dechert Luxembourg's three-partner team has a strong reputation across the breadth of asset classes, including private equity, debt funds, real estate and hedge funds, where clients benefit from 'great sector insight' and the ability to provide    'very efficient co-ordination of international partners within the firm's network'. Patrick Goebel has 'unique technical competencies for alternative assets in Luxembourg'.

Despite some recent departures, including Max Welbes , who joined Norton Rose Fulbright in June 2019, and Thibaut Partsch  who left for Elvinger Hoss Prussen in January 2020, Loyens & Loeff maintains a significant offering in the alternative investment funds space and has recently reconfigured its team to provide a multi-disciplinary approach which draws upon fund formation, regulatory, finance and tax experts. Led by Marc Meyers, the team has strong market penetration among many leading global asset management firms, including EQT Partners and Brookfield Asset Management, and is regularly called upon to advise on the necessary structuring, regulatory and operational aspects associated with the establishment of funds across the private equity, infrastructure and real estate sectors.

Jointly headed by the 'proactive and skillful' Mevlüde-Aysun Tokbag and the 'excellent' Samia Rabia , Wildgen's ten-strong team has 'profound market knowledge' and excels in providing 'tailor-made advice' across the gamut of matters relating to UCITS and alternative investment funds. Clients also appreciate the firm's 'excellent synergies and collaboration between the firm's different practice areas', in addition to its German desk which enables it to provide a 'one-stop-shop' for German-related funds matters.

Hogan Lovells (Luxembourg) LLP's three-strong Luxembourg team often works closely with other offices across the international network to provide a strong offering, particularly in relation to the real estate, hedge and infrastructure fund sectors. Pierre Reuter is the team head.

Considerably strengthened by the arrival in January 2019 of 'wise and seasoned professional' Jeannette Vaude-Perrin from Bonn & Schmitt, KLEYR GRASSO provides 'very knowledgeable and helpful' advice to domestic and international clients across the spectrum of regulated and unregulated alternative investment fund structures. Leveraging its strong corporate and M&A offering, the team is also regularly engaged on significant downstream investment activity in the private equity space.

Although it is very new in the market - having only established a Luxembourg office in October 2018 - Maples Group's nine-strong team stands out for its size and expertise. Formerly at Dechert Luxembourg, Johan Terblanche , who is noted for his 'deep knowledge of the fund market', heads up the team, which is primarily focused on the alternative funds space.

NautaDutilh's team 'uniquely combines knowledge of the legal and regulatory side of investment fund regulation with a real understanding of underlying business and customer needs'. A varied workflow includes structuring the full range of alternative funds and UCITS, regulatory advice and due diligence for institutional investors. Luc Courtois heads the team following his arrival from Bonn Steichen & Partners. Ezechiel Havrenne left the firm in December 2019.

Ogier provides 'clear, concise and practical advice' across the spectrum of alternative funds and has been strengthened on the real estate funds side by the recent arrival of Benoît Rose  from CMS. In addition to Rose's arrival, the firm has also seen an influx of associates joining the team from various firms, and consequently now has the critical mass and depth of expertise to provide an increasingly compelling offering for clients which are also appreciative of its ability to leverage expertise in other key offshore jurisdictions, including Cayman Islands.

Investment funds work is a core focus for independent business law boutique Chevalier & Sciales. Jointly headed by Olivier Sciales and Cécile Rechstein, the team advises asset managers and promoters on the establishment, regulatory and operational needs of UCITS and alternative investment funds.

Led by Eduard Koster, Dentons' team has an integrated approach which draws upon the expertise of regulatory, corporate, finance and tax lawyers to act for fund promoters, financial institutions and asset managers, particularly in relation to the structuring of alternative asset classes.

Led by 'very experienced' founding partner Denis Van den Bulke, the 'efficient and dynamic' team at VANDENBULKE employs a multi-disciplinary approach across corporate, tax and finance and is therefore well positioned to handle work across the life cycle of alternative funds work, from initial fund formation through to advice on subsequent investments.

Jointly headed by the 'outstanding and client-oriented' Pierre De Backer and Emmanuelle Bauer, Deynecourt provides 'efficient and high-quality advice' to clients in the alternative funds space. Work includes fund structuring, M&A activity and ongoing regulatory advice.

Headed by the 'outstanding' Marcus Peter, GSK Stockmann SA handles structuring work for alternative funds and UCITS, as well as advice on their day-to-day operational requirements. Notably Peter recently advised China Merchant Bank Luxembourg on the establishment of the bank’s first European-based investment fund.

Praised for its 'willingness to go the extra mile', Linari Law Firm provides a 'very flexible service' to clients on the establishment of UCITS and alternative investment funds. It also has significant experience advising international investment firms on their establishment and activities in Luxembourg, including on behalf of south-east Asian clients.

Led by Hervé Leclercq, Luther S.A.'s sweet-spot is in relation to advising mid-market asset managers launching fund structures in Luxembourg, particularly in the alternative asset class segment.

The 'highly skilled, responsive and dedicated' team at Simmons & Simmons in Luxembourg provides 'technical and very professional advice', either on its own, or alongside other strong funds teams across its international network (including London and Paris). Team head Augustin de Longeaux has a particular focus on real estate, infrastructure and private equity funds. The team has also been active advising numerous asset managers on strategic considerations in light of Brexit.