The ‘proactive and responsive’ team at Arendt & Medernach has ‘extensive knowledge of the industry’ and provides ‘a business-oriented approach’ to a myriad of large global sponsors, including Bain Capital and Oaktree Capital, across the spectrum of work throughout the value chain, including on their downstream investment activity. Laurent Schummer‘s work in the space runs the gamut from venture capital/growth capital mandates through to core private equity leveraged buyout (LBO) work for clients including Astorg – which he recently advised on a complex co-investment acquisition with Epiris of London-based Euromoney Institutional Investor. Pierre Beissel, who has excellent industry insight through his LPEA board membership, is also a prominent figure in much of the large-scale private equity-related transactional work handled by the team, as well as for restructuring and corporate governance. Adrian Aldinger heads the team.

Leveraging its global international network and full-service offering, the ‘very professional and knowledgeable’ team at Clifford Chance provides ‘pragmatic, efficient and business-focused advice’ to a variety of major sponsors, including Permira, Cinven and Partners Group, on high-profile multi-jurisdictional transactions on both the buy and sell side. Appreciated for her ‘ability to think outside-the-box’, dual Luxembourg and UK-qualified partner Saskia Myners has ‘a sound knowledge of the market and its actors’, working on large-scale LBO transactions as well as growth finance mandates. Christian Kremer and Katia Gauzès co-head the overarching corporate team, with Gauzès recently active on a number of major energy-related transactions for private equity sponsors.

Drawing upon a ‘strong technical focus’, Elvinger Hoss Prussen is ‘well-versed in all manner of private equity transactions and structures’. It has excellent market traction among sponsors, appreciative as they are of the firm’s ability to provide expertise throughout the private equity life cycle, from advice on the holding structure, the financing and co-investments or joint ventures to management participation and exits. On the M&A front, the ‘very experienced and solutions-focused’ Toinon Hoss has an excellent reputation in the market and continues to regularly advise core client Cinven on the Luxembourg structuring aspects of its downstream investment activity. Katia Panichi co-heads the team alongside Hoss.

Able to leverage the firm’s vast international resources as well as the office’s full-service offering, Linklaters is a popular destination for private equity sponsors seeking a one-stop-shop service across the broad scope of their requirements, from fund structuring through to acquisitions and exits, as well as attendant work relating to management incentive programs. On the M&A front, the team, which is led by Nicolas Gauzès, has a ‘strong understanding of investment strategies’, with a versatile practice that also leans into strong industry expertise within the infrastructure and real estate sectors. Luxembourg and New York-qualified partner Rémy Bonneau is ‘able to navigate through complicated and unusual structures’, both on the corporate M&A front and in the context of capital markets-related exits, as well as offering a niche expertise of SPAC capital raisings.

Active throughout the life cycle of a transaction from initial fund setup through to investments and exits, the ‘knowledgeable’ multi-disciplinary team at Loyens & Loeff provides ‘commercially-oriented and pragmatic advice’ to an impressive roster of global sponsors on the Luxembourg law aspects of cross-border mandates, where it often works alongside high-profile UK and US-based referring law firms. The ‘outstanding’ Guy Palmaers exhibits ‘exceptional strategic thinking and a business-oriented approach’, both on the acquisition and sale side (including through IPO exits), as well as in the context of ongoing operational work including advice on management incentive plans. Dual UK and Luxembourg-qualified partner Michael Scott regularly handles private equity-related restructuring work, including for portfolio companies in financial distress as well as in relation to distressed M&A for fund clients. Mathilde Lattard’s wide skillset in the sector ensures she is adept at handling fund setups and subsequent M&A activity, as well as co-investment strategies and exits. Siobhán McCarthy, who is noted for her aptitude in providing ‘practical and actionable advice’, Ana Andreiana and recent hire Frédéric Lemoine excel in handling cross-border private equity-related M&A matters and form a vital part of the Frédéric Franckx-headed private equity transactional team.

With a willingness to ‘go the extra mile, and a solutions/client-driven mentality’, AKD has rapidly gained market share since it was established in Luxembourg in 2016, becoming a popular choice for financial sponsors and referring law firms to provide advice regarding financing and investment structures in Luxembourg for acquisitions abroad. Cedric Bless provides ‘pragmatic and thoughtful advice’ to clients both in a new money context and from a restructuring perspective. The ‘experienced and very hardworking’ Nicolas Marchand co-heads the team alongside Bless and is particularly noted for his work in the real estate space.

Recognised for its ‘excellent technical and commercial skills’ and ‘practical approach to problem solving’, independent law firm BSP has strong relationships with a number of international financial sponsor clients, as well as US and UK-based heavyweight law firms, who regularly seek out the firm’s expertise to advise on the Luxembourg law aspects of major cross-border private equity mandates. Recognised by one major international referring law firm as ‘the go-to private equity lawyer in Luxembourg’, practice head Linda Harroch is a key member of the team, as are Michaël Kitai and Cécile Jager, whose tax and corporate proficiencies are compelling propositions on cross-border transactions.

Drawing upon ‘in-depth knowledge’ across the private equity sector, CMS provides an ‘efficient, professional and timely service’ to a myriad of financial sponsors. The team, which is led by the ‘client-oriented and responsive’ Gérard Maîtrejean, excels in acting in cross-border M&A mandates, where it often works alongside its global network of offices.

NautaDutilh provides a ‘solutions-driven approach’ to private equity sponsors, including Oaktree and Thomas H Lee Partners, on the Luxembourg structuring associated with their cross-border M&A transactions. In this context, as well as advising on corporate issues, the firm offers its strong tax structuring prowess. Key members of the team include Caroline Notté, who ‘provides pragmatic solutions’, and the ‘excellent’ Romain Sabatier, whose transactional expertise also includes restructuring mandates such as work for distressed debt funds. Margaretha Wilkenhuysen heads the team.

With a strong grounding in Luxembourg corporate law, as well as able to leverage the firm’s strength in tax structuring, Stibbe can provide ‘high-quality’ advice to financial sponsors on the buy and sell side of cross-border deals. Team head Gérald Origer is at the forefront of the highest profile work handled by the team, including for the likes of KKR and Investindustrial – where he is able to draw from his ‘outstanding knowledge and large experience in broad cross-border private equity projects’, as well as his ability to provide ‘creative solutions’ in unconventional situations.

Bonn & Schmitt is adept at advising financial sponsors throughout the entire process of their investments, from acquisition through to sale. Senior counsel Chantal Keereman and Cédric Bellwald are well-versed in structuring private equity transactions which use a Luxembourg investment holding platform, with Keereman also particularly accomplished at handling restructuring work in the space.

With a strong presence in all the major global fund centres, including London and Frankfurt, and also able to draw upon wide-ranging international know-how on best practices and market trends, Dechert Luxembourg is well-positioned to advise fund managers establishing conventional private equity and credit fund platforms in the country. Patrick Goebel and Jean-Louis Frognet co-head the team, with the latter spearheading the firm’s efforts on the transactional front.

At PwC Legal Luxembourg, Catherine Baflast has vast experience advising private equity sponsors on establishing Luxembourg investment structures to facilitate downstream investment activity. Jean-Yves Lhommel co-heads the team alongside Baflast and is noted for his corporate structuring and reorganisation prowess.

Although it is still in a relatively embryonic phase, having only established a transactional private equity offering in June 2022, the ‘very pragmatic’ team at Strelia has quickly gained traction in the market, picking up some high-quality cross-border work for mid-market sponsors, often working alongside the firm’s finance and tax teams. The speed with which the team has gained recognition has largely been down to the existing ties and reputations of co-heads Michaël Meylan and Vanessa Schmitt, who have both been in the market for many years (having worked together at Stibbe) and are particularly noted for their skills at handling transactions with a nexus to France.

Since establishing a presence in the country in March 2022, White & Case S.à r.l.‘s small Luxembourg office has provided an integral service to the firm’s strong roster of institutional private equity clients, working alongside global offices in advising on the local law structuring aspects of cross-border M&A transactions. Splitting their time between Brussels and Luxembourg, Thierry Bosly and Thomas Glauden co-head the team and are appreciated for their willingness to go ‘the extra mile’ and for their ‘proactive approach’.