Acting on its own and also able to tap into vast resources throughout its international network, the ‘highly skilled’ offering at A&O Shearman provides a ‘business-oriented mindset’ to commercial and private banks, multilateral lenders, funds, corporates and fintech entities across a broad range of transactional and regulatory matters. Frank Mausen has a thorough understanding of debt and equity capital markets matters, including in relation to bond issuances and the establishment of securitisation vehicles. The ‘calm and pragmatic’ Paul Péporté co-heads the capital markets function alongside Mausen and is noted for his ‘deep understanding of structured products.’ Pierre Schleimer excels at handling fund and real estate financing matters, and also provides advice on distressed financing. Promoted to partner in May 2023, Andreas Hommel co-heads the banking and finance team alongside Schleimer and is particularly active advising on real estate and fund finance mandates. Baptiste Aubry is newly appointed head of the office’s financial services regulatory group and is a popular resource among both banks and fund managers seeking to navigate the intricacies of the country’s regulatory framework.

The ‘deal oriented’ team at Arendt & Medernach provides a ‘high-quality’ service to a loyal and large pool of lenders and borrowers across the spectrum of new money financings, restructurings and regulatory matters. Matthieu Taillandier, who heads the firm’s transactional offering, advises lenders and borrowers on fund financing matters. On the capital markets front, François Warken has a strong grasp of regulatory and transactional procedures and remains a popular choice for issuers, in particular, across a plethora of debt and equity capital markets work. Displaying a ‘keen understanding of cross-border issues,’ Grégory Minne has ‘quickly grown to be well respected in the banking field,’ handling new money and restructuring mandates. Glenn Meyer heads the overarching banking practice and handles AML and terrorist financing matters. Philippe Dupont also remains ‘a key figure in the Luxembourg market’, providing transactional, litigation and regulatory expertise to banking clients. At a more junior level Emmanuelle Mousel excels at regulatory matters, Nicolas Tintanne has a broad transactional finance practice and Dominik Pauly is ‘an impressive expert in complex cross-border finance’ mandates, including those with a German nexus. Other recommended practitioners include founding partner Paul Mousel, for his insurance regulatory knowledge, and Laurent Schummer for equity capital markets work.

Clifford Chance provides a ‘high quality and responsive service’ to a stellar roster of banking and funds clients providing or seeking finance to facilitate a range of transactions. The team is well-placed to advise on cross-border mandates by virtue of its vast international network but is also picking up an increased volume of work where Luxembourg law governs the contractual documentation between parties. In this regard, the ‘very responsive’ Martin Wurth is noted for his fund financing prowess and regularly advises banks and borrowers on both syndicated and bilateral facilities. Steve Jacoby also provides ‘top-notch’ advice on fund financing subscription and capital call facility agreements, as well as handling a considerable amount of fintech and acquisition finance mandates. Stefanie Ferring handles new money deals, refinancings and restructurings, with the real estate sector a particularly fertile source of work. Marc Mehlen rounds out the team at a leadership level and is noted for his capital markets prowess, particularly as it relates to securitisations and debt issuances.

Elvinger Hoss Prussen leverages an ‘in-depth knowledge of the Luxembourg legal market,’ enabling it to provide ‘practical, responsive and results-oriented advice’ to funds, corporates and banks on both domestic and cross-border transactions. Headed by the vastly experienced Pit Reckinger, the team’s generalist ethos ensures that clients receive a holistic and coordinated service and a degree of flexibility that can be lacking in more siloed practices. André Hoffmann exemplifies this approach, being equally comfortable handling regulatory matters as he is banking and finance transactions. Other key practitioners include capital markets experts Philippe Prussen and Philippe Hoss, Karl Pardaens, who is adept at handling fintech regulatory work, as well as ECM matters (including SPAC listings) and Henri Wagner, whose recruitment from A&O Shearman in March 2023 was a major boost for the firm in light of his international banking and financial services regulation expertise.

A strong offering in its own right and also able to leverage international resources across the network, the 'approachable, dedicated and efficient' team at Linklaters is able to ensure full alignment for large global creditors and debtors engaged in cross-border financings. ‘Always abreast of legal developments and market trends,’ team head Melinda Perera has gained trusted advisor status for clients on banking as well as debt capital markets work, where she has regular engagement from banks as underwriters on landmark supranational debt issuances. The ‘exceptional’ Patrick Geortay has a broad ranging practice that includes both regulatory and transactional expertise, including in relation to asset, acquisition and real estate finance. Nicki Kayser is ‘definitely someone you want in your team for complex matters,’ including for advice on debt issuances in digital form through DLT. The ‘very accessible, responsive and solutions oriented’ Eliane Dejardin Botelho is also recommended on regulatory issues and the establishment of bespoke derivatives and securities financing structures.

 

Resourcing matters with ‘responsive lawyers who are proactive and diligent,’ and who have comprehensive knowledge across loan and capital markets financial products, Loyens & Loeff provides ‘an excellent client service’ across a range of secured and unsecured new money and refinancing and distressed financings. Spearheaded by Vassiliyan Zanev, the firm has gained acclaim for its fund financing work, with a myriad of major fund clients regularly turning to the firm for credit through subscription, capital call and NAV facilities, among other methods. Zanev is also well-versed at advising on structured finance matters, structuring of securitisation vehicles and the issuances of asset-backed securities. Anne-Marie Nicolas heads the secured lending team and as well as being ‘very skilled in insolvency situations’ is also adept at advising on new money acquisition and leveraged financing transactions. Other key members of the team include Audrey Jarreton, who excels at handling acquisition and real estate finance work, and Adrien Pierre, who has ‘very strong technical skills and great market knowledge’ in the context of financial services regulatory work.

Led by Laurent Lazard, the ‘responsive and efficient’ team at BSP provides ‘high quality and cost-effective advice’ to banks, funds and corporates seeking or providing finance, often requiring a more bespoke structure. Lazard is particularly adept at advising arrangers and issuers on securitisation transactions, particularly where auto loans form the underlying asset class. The ‘impressive’ Nuala Doyle also advises on securitisation mandates, although she is best-known for her DCM and ECM work, both from a transactional and a regulatory perspective. Nicolas Widung, who was recently promoted to partner, is ‘highly responsive, pragmatic and knowledgeable,’ and has earned particular acclaim for his real estate finance work.

 

DLA Piper Luxembourg has ‘rapidly developed good cross-border capabilities’ since it was established in 2017, and regularly advises on multi-jurisdictional mandates. An ‘outstanding all-around lawyer,’ team head Xavier Guzman is ‘a wizard in the Luxembourg financing environment,’ with a varied offering that includes acquisition finance work, as well as niche expertise in relation to renewable energy financings. Combining extensive financial services regulatory knowledge with an impressive transactional practice, Laurent Massinon finds ‘practical solutions in difficult situations’ including in relation to project finance work, as well as restructuring matters. Yann Zellet provides ‘client and business-oriented advice’ to borrowers and lenders, particularly in the context of energy and fund financing transactions.

NautaDutilh provides a ‘hands-on, accessible and responsive’ service for a bank-focused client base across a range of finance mandates throughout the Benelux region. As well as work on fund and acquisition finance transactions, Josée Weydert regularly advises underwriters on debt capital markets mandates, including recently in a liability management context. Sara Gerling co-heads the team alongside Weydert and as part of her broad practice regularly handles real estate finance mandates with a German nexus.

Acting on its own and regularly working alongside practitioners across the firm’s extensive international network, Baker McKenzie provides ‘very reliable’ and ‘solutions oriented’ advice to lenders and borrowers on financing solutions to facilitate M&A transactions, for working capital and restructuring solutions. The real estate sector informs much of the workflow, with Jean-François Trapp regularly engaged in domestic and pan-European financing mandates to facilitate large-scale commercial and retail projects. Laurent Fessmann co-heads the team alongside Trapp and regularly provides bridge and fund finance solutions to asset managers.

Leveraging ‘excellent market knowledge and deep expertise’ in the fund and banking space, CMS' Luxembourg office is regularly instructed on standalone domestic regulatory issues, as well as providing local law financing advice, alongside lawyers throughout its network of offices, across a myriad of transactional matters. Team head Vivian Walry has ‘great knowledge and commercial understanding’ and is noted for his project finance, regulatory and capital markets expertise. Aurélia Viémont takes the lead on all regulatory matters and through her involvement in working groups, as well as her fee-earning work, has developed a deep understanding of both traditional banking and fintech regulatory developments.

The asset management sector is at the core of Dentons' financing workflow, both in relation to providing liquidity and capital to funds for their core business, as well as in the context of downstream investment activity. Pure fund finance work remains the core driver, with ‘very efficient’ team head Stéphane Hadet regularly instructed by banks lending to funds utilising a myriad products including NAV, subscription and hybrid facilities. The team also regularly works alongside colleagues throughout Europe (including the CEE region), advising real estate funds and property companies on financings to facilitate property acquisitions. Other work includes securitisations and regulatory advice.

The ‘very commercial and relationship driven’ team at KLEYR GRASSO provides ‘efficient solutions’ to a borrower-focused client base on their ongoing financing needs as well as to facilitate their transactional needs. Combining ‘extensive legal knowledge and commercial acumen,’ team head Renata Jokubauskaite regularly advises on acquisition finance mandates. The arrival of ‘very well reputed practitioner’ Pierre-Alexandre Degehet from BSP in June 2023 also strengthens the team in light of his broad ranging transactional and regulatory expertise.

 

The first offshore law firm to establish a presence in Luxembourg, Ogier gained a first-mover advantage and has cultivated a loyal roster of clients, including funds and banks, as well as regularly being referred work from well-established international firms lacking a presence in the jurisdiction. Led by Jad Nader, the ‘strong banking team’ has ‘extensive experience in funds finance,’ and is able to provide integrated advice utilising Cayman and Luxembourg structures for lenders providing a range of credit facilities to these asset managers. Other work includes a borrower-focused offering for funds on financing to facilitate their downstream M&A and real estate transactions.

The ‘very responsive’ team at Stibbe provides ‘pragmatic, proactive and cost-effective advice’ to borrowers and lenders on real estate, corporate finance and restructuring matters. Sponsor-backed leveraged finance work is also a particular strength, with the team working well with UK and US referral firms, as well as directly with funds, which are appreciative of the firm’s ‘great grasp of international issues.’ ‘Technically impeccable’ team head Jean-Marc Delcour has ‘a vast knowledge of the market,’from both a transactional and regulatory perspective.

The ‘client-focused’ team at AKD continues to gain traction in the market as a result of its ability to provide ‘dynamic, solutions-oriented and tailor made advice’ to borrower clients across a wide range of cross-border banking and capital markets matters. Yann Hilpert is ‘responsive and experienced’ and excels at handling acquisition and asset finance mandates. Hilpert co-heads the team alongside recently promoted partner Arnaud Barchman, who is ‘pragmatic, business oriented and very knowledgeable’ across securitisation and DCM mandates in particular. The team is rounded out a partner level by Jasper Verhoog, who specialises in financial supervision and securities law, and acts as main liaison between the firm’s Luxembourg and Dutch offices.

The ‘entrepreneurial and innovative’ team at GSK Stockmann has a ‘clear understanding of the market’ and is regularly involved in high-value, cross-border financing deals, both on lender and borrower side. Philipp Mößner is particularly adept at handling real estate finance matters with a nexus to Germany and co-heads the team alongside Andreas Heinzmann, who excels in handing capital markets and securitisation matters.

Leveraging ‘excellent experience with Luxembourg supervisory law and good contacts with the authorities,’ Luther S.A. is well-positioned to navigate the domestic regulatory terrain on standalone matters, as well as a myriad finance and capital markets domestically and in a cross-border context. ‘Proactive and attentive’ team head Bob Scharfe provides ‘practical and solutions-oriented’ advice to banks, funds and corporates across a wide array of new money and refinancing transactions.

Leveraging the firm’s overarching buy and sell-side funds strength, fund finance accounts for a sizeable volume of work for Simmons & Simmons in Luxembourg, with the firm regularly acting on its own as well as in unison with other offices throughout the network across a wide range of credit facilities. Team head Louis-Mael Cogis excels at this, although his finance work is broader than that to also include structured corporate finance matters, acquisition finance and real estate finance. Cathrine Foldberg Møller heads the office’s standalone regulatory team and handles a varied array of matters impacting traditional banking, payment services, investment activities as well as product regulation and financial promotion.

Often working closely with colleagues based across its German offices, Hogan Lovells (Luxembourg) LLP is ‘very easy to work with’ and delivers a ‘personalised service’ to funds and banks across a range of structured finance, capital markets and banking matters. Team head Ariane Mehrshahi Marks is particularly adept at advising arrangers and originators on securitisation transactions involving a wide range of asset classes, including solar loan receivables and auto loans.

Under the expert guidance of Arnaud Arrecgros, the ‘knowledgeable, commercial and responsive’ team at Maples Group continues to gain market share within its areas of focus and is regularly referred work to it by many leading international law firms, which are appreciative of its ‘understanding of the “big picture” of a deal’. As well as being ‘very well-versed in the fund finance space,’ Arrecgros is adept at handling structured finance matters and is increasingly active in the market handling future flow securitisation deals.

With an ‘exceptional knowledge of banking and financial law, as well as good contacts with supervisory authorities,’ Norton Rose Fulbright is well-positioned to represent funds, corporates and lenders across a wide spectrum of banking and capital markets transactions where Luxembourg is the main jurisdiction, as well as in deals where it is simply a part of the security package. ‘Very responsive’ team head Stéphane Braun takes the lead on most of the transactional matters (including corporate finance, structured finance and securitisation matters), while the ‘technically strong’ Nam Nguyen-Groza has a strong grounding in financial services regulatory matters.

Under the expert guidance of the ‘technically excellent, commercial and user-friendly’ Fabien Debroise, Ashurst‘s Luxembourg office has gained prominence for its fund finance offering for a lender-focused client base. Here the team regularly works alongside its London office and is adept at advising on the full range of lending products, including on subscription lines, NAV facilities and GP facilities. Other areas of expertise include real estate and acquisition finance, where the firm is well-placed to provide the local law advice on cross-border mandates, often working in tandem with other offices throughout the network.

Known for its commercial litigation prowess (which includes financial services disputes), Bonn & Schmitt also handles financing transactional work, including in the context of syndicated and bilateral loans. Senior partner Alex Schmitt co-heads the team alongside the ‘professional and pragmatic’ Françoise Pfeiffer, who ‘provides precise, solutions-oriented advice.’

The ‘very knowledgeable and accessible’ team at Brucher Thieltgen & Partners provides ‘precise and high-value legal advice and support in banking and finance matters.’ The scope of the work is broad and includes varied regulatory work for funds and banks operating in Luxembourg, an area where team head Nicolas Thieltgen, who has ‘excellent knowledge of the financial sector,’ is adept in both a contentious and non-contentious setting.

The ‘professional, responsive and cost-effective’ integrated corporate and finance team at Charles Russell Speechlys is ‘very knowledgeable across complex areas of Luxembourg finance and capital markets law’ for a borrower-focused client base. Victor Regnard regularly handles real estate secured financing and refinancing work, and co-heads the team alongside securitisation and DCM expert Jean-Baptiste Beauvoir-Planson.

Leveraging the firm’s strong overarching credentials within the asset management space and its international network, Dechert Luxembourg excels in providing Luxembourg law structuring advice to funds, both as borrowers and lenders, on cross-border mandates. Jean-Louis Frognet, who co-heads the team alongside Laura Rossi, is well-versed at handling funds, real estate and acquisition finance matters.

Reflective of the firm’s global overarching fund expertise, Goodwin's Luxembourg office primarily focuses on borrower work, either to help raise capital for the funds themselves or to facilitate investments being made by them. Alexandrine Armstrong-Cerfontaine and Elie-Raphaël Soudry, who joined from Loyens & Loeff in November 2022, co-head the team, and are both well-versed at handling financings throughout the capital structure.

Boutique independent firm Linari Law Firm has a strong reputation advising on financing and regulatory work relating to complex securitisation structures. Managing partner Vincent Linari is one of the main contacts.

The ‘responsive and creative’ team at MOLITOR Avocats à la Cour SARL handles a range of finance transactions for borrowers and lenders, often handling the Luxembourg law advice pertinent to international matters. Armel Waisse is a key contact and has recently been particularly active on distressed transactions, both for creditors in insolvency scenarios, as well as on light touch refinancings. Michel Molitor co-heads the team alongside Waisse and often handles litigation in the sector.

Since joining from Loyens & Loeff in March 2022, Cédric Raffoul has galvanised PwC Legal Luxembourg's finance offering, providing a ‘very responsive and proactive’ service to borrowers, in particular across a range of new money and restructuring mandates. Although he is best-known for his capital markets transactional work, Raffoul has also ‘recently added regulatory and fintech to his skills.’

Led by the ‘experienced, versatile and very business-oriented’ Michel Jimenez Lunz, SJL Jimenez Lunz has ‘very good knowledge of the market,’ enabling it to provide a holistic service to banks and borrowers, both at the front end of deals, as well as in any pursuant refinancings. Antoine Fortier Grethen is also a key member of the team and has a ‘strong knowledge of all legal aspects of a deal and of the fund financing market.’ 

TS&P provides ‘commercial and solutions-oriented’ advice to European and US asset managers across a wide array of financing matters, from fund finance through to acquisition finance to enable subsequent downstream investments. Torsten Schmitt heads the team that also includes Nicolas Ronzel, who provides ‘innovative solutions,’ in part due to his previous in-house role within the alternative investment funds space.