Acting alone as well as being able to leverage expertise across the firm's vast international network of offices, the 'amazing' team at A&O Shearman provides 'clear and succinct advice', primarily to alternative investment- focused fund managers on the initial fund structuring as well as their pursuant ongoing operational requirements. Team head Jean-Christian Six is 'very knowledgeable' at structuring funds investing across a range of strategies, including real estate, infrastructure and private debt, where his regulatory nous developed over his many years' in private practice is appreciated by clients. Yannick Arbaut is key to the team's development of its German and Swiss client base, and also takes the lead on impact funds work. Miao Wang  is 'very knowledgeable in the Luxembourg private equity space' and is also key to the firm's work on the investor side, including on behalf of sovereign wealth funds and development finance institutions (DFIs).

Led by the 'exceptional' Gilles Dusemon , Arendt & Medernach has justifiably earned the reputation of being "best in class" for its funds work, and has the strength-in-depth to be able to handle a tremendous range and volume of work on both the retail and alternatives front. UCITs remain a core area of focus, with many in the team excelling at providing 'first-rate' advice, combining legal technical expertise with knowledge of best-market practice. Florence Stainier  is very well-versed at handling retail fund set-ups, although she also has expertise structuring Reserved Alternative Investment Funds (RAIFs), as well as recently setting up alternative lending platforms. Isabelle Lebbe  and Michèle Eisenhuth are also vital to the team's success on the UCITs front, with Eisenhuth also increasingly active advising fund managers on the establishment of debt funds. On the alternatives front, Adrian Aldinger has a strong reputation among many large global private equity firms, advising them on establishing buyout funds as well as on their debt fund strategies. The 'outstanding' Gregory Beltrame  provides 'highly practical and efficient advice' to private equity sponsors, including in relation to their secondaries strategies. Francis Kass  is 'extremely knowledgeable' on the Luxembourg law surrounding regulated and unregulated investment funds, and is a key member of the team that also includes Piotr Giemza-Popowski, who has 'great technical knowledge in the UCITS space'.

Drawing upon strong connections with the regulator and leveraging thorough institutional knowledge developed over the team’s many years’ in practice, Clifford Chance has ‘deep working knowledge of the Luxembourg alternative investment fund management industry and market’. Consequently, on its own, as well as with practitioners throughout the firm’s international network, the five-partner team can offer a one-stop-shop solution across the myriad legal and regulatory issues related to investment activities, including fund formation and structuring, investor advice, secondary transactions, and ongoing operational advice. Delivering ‘advice which is grounded in a sound regulatory foundation’, Emmanuel-Frédéric Henrion has excellent traction in the UCITs market as well as for sponsors setting up funds to invest in private equity and real estate assets. Kristof Meynaerts is skilled at advising on regulated and unregulated funds, and also adds an added layer of skill by virtue of his fund finance expertise. The ‘thoughtful and solutions-oriented’ Maren Stadler-Tjan is active on both the fund manager and institutional investor side with regard to real estate, private equity and debt funds, in particular, and also spearheads the team’s ESG initiative. Oliver Zwick  rounds out the team at a partner level, and along with counsel Christian Lennig  is ‘adept at bridging cultural and market differences when negotiating with international lawyers’. Paul Van den Abeele left the firm.

'Well connected to the regulators' and leveraging 'a very broad knowledge of all fields of Luxembourgish fund law', Elvinger Hoss Prussen is well-positioned to advise a fund manager-focused client base on the structuring, operational and regulatory advisory aspects associated with both retail and alternative investment funds. The tone is set by team head Jacques Elvinger, who has 'excellent insight and intel on market practice' as a result of his many years' fee-earning expertise, particularly in the UCITs market. Gast Juncker, who is 'knowledgeable, humble and committed', also excels at advising on the formation of UCITs and pursuant regulatory matters. Although he also handles some retail funds work, Jérôme Wigny is best-known for his alternatives expertise, with many high-profile fund sponsors appreciative of his 'top notch know-how and technical expertise'. The 'client oriented' Joachim Cour is 'very aware of market practice and has good industry knowledge' across a range of alternative asset classes, including real estate and infrastructure. Sophie Laguesse is also recommended.

The 'very strong' team at Linklaters 'covers all the relevant areas of expertise', particularly for fund managers in the alternative asset space, as well as a growing offering for insurance companies and pension funds as fund investors. The 'very accomplished and collaborative' team head Silke Bernard effectively marshals the office's resources, often working in unison with lawyers from throughout the firm's vast international network of offices on cross-border matters. As well as fee-earning work, Bernard spearheads the office's industry efforts promoting the retailisation of private funds. 'One of the leading experts in the field of fund formation in Luxembourg', Martin Mager is across all relevant alternative asset classes, including impact funds, and is also spearheading the office's growing investor-side offering. The 'commercial' Claire Prospert 'has a flexible mindset to try and make client objectives work', including for some high-profile US private equity sponsors, as well as in the context of retail products. Now in his position as of counsel following his retirement from the partnership, Hermann Beythan has vast knowledge across a broad range of fund mandates, including the creation of AIFMs and other regulatory issues.

Headed by Marc Meyers, Loyens & Loeff's 'outstanding' team, which is able to leverage the expertise of highly integrated tax, regulatory, M&A and fund finance lawyers at the firm, can provide 'thoughtful and actionable' advice to fund managers across the full life-cycle of work in the alternatives space. Private equity is a particular area of expertise, and in harness with New York based Frank van Kuijk, the firm retains strong traction among a number of heavy-hitting US sponsor clients, either acting on its own or alongside US referring law firms, and is appreciated for its 'good sense of market terms'. Veronica Aroutiunian is also very skilled at advising on regulatory and structuring work associated with the private equity industry, and is also well-versed at advising fund managers on other alternatives strategies, including real estate, infrastructure and private debt. Jérôme Mullmaier  has a 'high awareness of the regulatory complexities of Luxembourg', ensuring that he is able to provide 'commercial' advice on the structuring, launch and fundraising activity of private funds across a wide range of strategies, including private equity, infrastructure, private debt and real estate.

With 'deep industry knowledge' and a strong 'insight of the regulator's viewpoint', Baker McKenzie is well-placed to provide 'pragmatic and effective advice' to managers in the private fund space. As well as being abreast of the increased use of debt funds in the market, the team has longstanding expertise advising fund managers on real estate strategies, with clients also benefiting from the firm's broader international network on cross-border matters. Laurent Fessmann provides 'solutions-oriented advice' and is central to much of the fund formation and ongoing operational mandates, including on ESG-focused funds. Catherine Martougin  co-heads the team alongside Fessmann.

Acting on its own as well as frequently alongside team members spread throughout the firm's international network of offices, CMS excels in handling cross-border mandates for alternative fund managers, where it is noted for its ability to provide 'very high-quality advice' throughout the investment life-cycle - from fund formation, through to downstream investments and exits. As well as advising conventional funds investing in real estate and infrastructure, the team also excels at advising on sustainability and impact-oriented funds, where it has been at the vanguard of trends in the space. Team head Aurélien Hollard is key to much of this work and is appreciated for his ability to develop 'innovative ideas' on often complex fund structures. The 'experienced and very committed' Benjamin Bada is also key to the team, not just for fund managers but also for institutional investors investing into the funds.

 

With a strong offering based in Luxembourg and also able to leverage expertise in other key fund jurisdictions, including London and Dublin, Dechert Luxembourg provides a 'solutions-oriented' service to fund managers engaged across a range of primarily alternative asset classes. The firm has been at the forefront of trends in the private debt space, with the Luxembourg office no exception, in addition as well as advising on traditional venture capital and hedge fund raisings it has also been very active advising on hybrid and secondaries funds. The 'down-to-earth and results-oriented' Patrick Goebel takes the lead on many of the matters and is noted for his fund structuring and broader regulatory knowledge of issues impacting AIFMs. Appreciated for his 'very collaborative' approach Matthias Kerbusch is also key to the firm's success, including for German institutional investors, as well as in relation to the growing market trend for the democratization of private funds. Marc Seimetz co-heads the team alongside Goebel.

Drawing upon ‘a robust knowledge of market practice’, DLA Piper Luxembourg‘s growing team delivers an ‘excellent work product’ to a fairly balanced mix of managers and investors setting up or investing in a myriad alternative fund types. Catherine Pogorzelski‘s ‘ability to navigate complex legal landscapes with ease’, not just in Luxembourg but also other jurisdictions, (where she can also lean into experts spread across the firm’s vast international network) is a compelling proposition to clients engaged in the establishment of private equity, real estate and debt funds, in particular. The ‘creative and solutions-oriented’ Caroline Pimpaud co-heads the team alongside Pogorzelski, and as part of her wide ranging asset class expertise that includes venture capital, also provides a considerable amount of regulatory advice relating to the retailization of private funds, particularly in the context of ELTIF 2.0. Counsel Marceau Visano also has strong client traction and ‘stands out for his meticulous attention to detail and profound legal knowledge’, particularly in the context of venture capital and private equity-related funds.

Combining 'deep expertise with a proactive and solutions-oriented approach', the 'dynamic' funds team at Stibbe is well-positioned to advise fund managers (often alongside US law firms as referring counsel) on fund formation and accompanying regulatory issues relating to alternative asset classes. Displaying the 'correct balance between commerciality and technical accuracy', Edouard d’Anterroches has a particular focus on private debt, infrastructure and sustainable finance asset classes. He co-heads the team alongside the 'reliable and responsive' Victorien Hémery, who excels in handling complex cross-border investment structuring, including with regard to private equity and real estate assets.

The 'knowledgeable' team at Ashurst provides a 'client oriented and responsive' service to fund managers across all aspects of fund formation and life cycle management of retail and liquid/illiquid alternative funds. Team head Antonios Nezeritis has 'lots of experience' in the market, both in relation to alternative asset strategies (including private equity, infrastructure and real estate) and UCITs, often leveraging the strength afforded by the firm's impressive international on complex cross-border matters. Arnaud Julien , who recently took over the management partner duties from Nezeritis, is also well-versed in the fund space for both managers as well as investors.

Drawing upon an 'in-depth understanding of the Luxembourg fund regime', the 'well-balanced and diverse' team at BSP is well-positioned to advise investment managers and fund promoters across the entire deal life cycle, from initial structuring, through to operational concerns and fund termination. Team head Evelyn Maher provides 'useful and business-oriented' advice across a wide range of alternative asset classes, as well as on attendant regulatory matters. Isabel Høg-Jensen  is particularly effective at advising on matters with a Scandinavian nexus and has recently been pivotal to the team's growing flow of sustainability and ESG-related mandates.

The 'very proactive and client-oriented' team at GSK Stockmann has established a strong reputation advising international clients, including fund managers and promoters, on fund structuring and pursuant operational/regulatory advice, particularly in the alternative fund space. Leveraging the firm's resources on the ground in Luxembourg and across its German offices, the team excels in advising on matters with a German nexus, with team head Marcus Peter regularly advising German clients on the cross-border structuring of investment funds. 'Highly skilled in Luxembourg funds law', Corinna Schumacher is also a key member of the team and provides 'highly focused and efficient advice' to stakeholders, including on some complex structures and supervisory issues in the cross-border arena.

Often working closely with its London office in particular, Hogan Lovells (Luxembourg) LLP handles the relevant Luxembourg law-related aspects of cross-border mandates for fund managers within the alternatives space. Here, under the guidance of Pierre Reuter , the team often deploys a multi-disciplinary approach, leaning heavily into its tax group with particular skill advising on private equity, infrastructure and real estate matters.

'Very knowledgeable on the Luxembourgish funds industry', KLEYR GRASSO handles work for fund managers and institutional investors setting up or investing into a myriad of alternative investment funds, including real estate and private equity. The team also advises on ongoing regulatory issues associated with running a fund, as well as advice with regard to other transactional mandates, including restructuring and mergers of funds. Much of the work has an intersection with German-speaking countries, with the 'outstanding' Mevlude-Aysun Tokbag particularly skilled at work in the space.  The 'very professional and responsive' Luc Courtois  co-heads the team alongside Tokbag, and as well as AIF-related work, also advises on the setting up of UCITs.

 

Leveraging 'in-depth market knowledge', both from Luxembourg as well as in other key offshore centres including Cayman Islands and Ireland, Maples Group is 'very strong in the fund formation sector' across a wide range of alternative funds and associated structures. 'Very knowledgeable' team head Johan Terblanche  has 'huge experience and gravitas', ensuring he is well-positioned to achieve the best results for clients, including on the formation of private equity and hedge funds. Noted for his ability to provide 'innovative solutions on complex problems, of counsel Donnchadh McCarthy is also a key member of the team, not just in relation to private funds but also with regard to the establishment of UCITs.

 

Working on its own as well as frequently in a cross-office (in harness with its other Benelux offices) and multi-disciplinary fashion, the small core funds team at NautaDutilh advises UK, US and EU-based managers across a range of legal and regulatory matters related to Luxembourg-based funds. Team head Géraldine Léonard is active across both the retail and alternative investment funds space, and as well as advising on fund structuring matters also has niche expertise on restructuring and branchification operations.

Forming an increasingly important part of the firm's global offering in the asset management space, Norton Rose Fulbright's compact but growing Luxembourg team acts on its own as well as frequently alongside other key European and Middle Eastern offices across a wide range of fund formation, operational and regulatory within the alternatives space. As well as representing many international asset managers, the team is also well-versed at handling work for institutional investors, including development financial institutions on their investments into funds (including those focused on ESG strategies). Claire Guilbert has a strong grounding in the regulatory and structuring needs of funds implementing a myriad alternative strategies, and has recently handled a considerable volume of work within the thriving debt funds space. Guilbert co-heads the team alongside Geoffroy Hermanns, who has particular knowledge on mandates with a Middle Eastern component, and is familiar with Shari'ah compliant funds.

The 'highly responsive and knowledgeable' team at Ogier is adept at advising stakeholders on issues across the spectrum of fund structures and strategies, particularly within the alternatives sector. Able to leverage the firm's expertise in other key offshore fund jurisdictions, the team is also noted for its ability to advise on Lux-Cayman parallel fund structures, which are increasingly popular with US fund sponsors seeking to simultaneously access European and US capital. The arrival in April 2024 of Hervé Leclercq from Luther S.A. further enhances the team's capabilities on cross-border mandates, including in relation to exploiting Asian opportunities - where he has already worked closely with the firm's offices in Hong Kong and Tokyo. Leclercq co-heads the team alongside Anne-Gaëlle Delabye.

Launched in 2022 following the dissolution of Wildgen, Pinsent Masons' fledgling investment funds team has quickly gained traction in the market, providing a 'very responsive and pragmatic service' to fund mangers on the formation and ongoing regulatory work associated with a range of alternative strategies. The team also forms an increasingly important part of the firm's  global strategy, regularly working alongside key international offices including London. 'Client and results-focused' team head Benoît Rose has 'a 360 degree view of the investment fund industry' generated through private practice and in his time in-house, ensuring that he is able to provide advice on both the fund manager and institutional investor side. Jan Saalfrank also has 'excellent industry knowledge', including for German speaking clients.

Forming one of the core business sectors of the firm as a whole and supported by key offices in other core fund centres, including London, the 'sophisticated and multi-disciplinary team' at Simmons & Simmons in Luxembourg is well-placed to handle a myriad alternative fund-related work, including sophisticated multi-legged master feeder structures domiciled in a variety of jurisdictions. Augustin de Longeaux  has 'deep knowledge of the private equity industry' and other illiquid asset classes. Pieter Leguit  is also skilled at fund formation across a range of alternative asset classes and co-heads the team alongside de Longeaux, with both also adept at providing due diligence to investors investing into funds.

With a 'profound knowledge and experience' across a range of Luxembourg fund matters while 'maintaining a boutique-like set-up', AKD provides a 'hands on and cost-effective service' directly to clients as well as in a law firm referral capacity across a myriad alternative investment strategies. Luxembourg and German law-qualified team head Jevgeniy Nesch has the 'ability to think strategically and offer creative solutions' to Anglo-Saxon, German and Swiss fund managers, particularly in relation to private equity, venture capital and private debt fund formation matters.

The 'very responsive, knowledgeable and detail oriented' team at Bonn & Schmitt is best-known for its retail fund expertise, regularly advising on UCITs structuring, as well as on updates to existing funds, including through mergers between sub-funds. Although it is a little less visible on the alternatives fund front, senior counsel Maria Chiapolino  and Chantal Keereman are active in the private equity industry, with both co-heading the overarching funds team alongside the vastly experienced Alex Schmitt.

Combining a 'deep knowledge of Luxembourg regulatory frameworks' with a global reach in Europe, the US and Asia, Debevoise & Plimpton LLP's Luxembourg office has, since its inception in 2020, quickly established itself as an important component in the firm's global private funds practice. Team head Christopher Dortschy  has been key to the office's success in the area, providing 'innovative and practical' solutions, including to US fund managers which are increasingly viewing Luxembourg as a viable location for their capital raising hub in Europe.

The 'responsive and knowledgeable' team at Eversheds Sutherland (Luxembourg) LLP acts on its own as well as frequently alongside practitioners from other firmwide offices, providing 'practical and business-oriented solutions' to clients with often very complex international requirements in the alternative fund space. Team head José Pascual, who impresses domestic and foreign fund managers as a result of his 'strategic insight and hands-on involvement', has been pivotal to the firm's increased profile in the market across a range of regulated and unregulated AIFs.

Luther S.A. excels in providing 'pragmatic and tailor-made advice' to managers on the creation of alternative investment funds. Daniel Krauspenhaar, who now heads the team following the departure in March 2024 of Hervé Leclercq  to Ogier, excels in handling matters with a nexus to Germany, often working alongside German-based lawyers including on the creation of debt funds.

With a growing core funds practice that was recently strengthened by the arrival in May 2024 of Emmanuel Gutton  from the Association of the Luxembourg Fund Industry (ALFI), and also able to draw upon fund-centric expertise across the office's corporate and tax practice groups, White & Case S.à r.l. increasingly has the resources to provide the necessary Luxembourg structuring to service the firm's institutional global funds clients. Many of these are private equity focused, where the team, that is headed by Arnaud Cagi-Nicolau, is appreciated for its 'ability to navigate complex international regulations, while offering pragmatic and business-oriented advice'.

Formed in 2022 as a spin-off from the now defunct Wildgen, Brouxel & Rabia Luxembourg Law Firm is adept at handling fund formation and regulatory work in the alternatives and retail space, as well as for investors on their due diligence requirements. Carmine Reho  has 'deep knowledge of UCITS and alternative funds', and co-heads the team alongside Samia Rabia , who has niche expertise in relation to Shari’ah-compliant funds.

Led by Jean-Luc Fisch, Dentons' integrated legal, regulatory and tax offering regularly advises managers on the structuring of real estate and private equity funds, in particular. It has also picked up an increasing volume of work on the investor side, including from development finance institutions.

Forming an increasingly integral part of the firm's global private funds offering which includes key offices in Europe and the US, Goodwin's growing Luxembourg office has good traction among international fund managers on fund formation and ongoing regulatory/operational matters. Team head  Alexandrine Armstrong-Cerfontaine, who splits her time between London and Luxembourg, has a strong reputation in the market for private equity, debt and infrastructure funds, in particular.

Although it has only been established since July 2021, the ‘lean and efficient’  Luxembourg office at K&L Gates Volckrick has quickly gained visibility in the market, particularly within the alternative fund sector. Praised for its ability to ‘work seamlessly with other offices in the network’, the team is particularly effective at advising on cross-border fund structures and is praised for its ability to straddle ‘the cross-section of EU/Luxembourg law/practice and US asset managers’. Team head Mathieu Volcrick ‘has deep experience and a practical approach to problem solving’, including within the private equity and real estate funds space.

Led by Vincent Linari-Pierron, Linari Law Firm's 'extremely reactive and competent' team handles a range of work for alternative and retail fund managers, including on fund formation and fund finance. The team also has expertise advising investors into the funds on the associated due diligence, as well as handling work relating to fund restructuring.

Combining 'deep legal expertise with industry-specific knowledge', PwC Legal Luxembourg is well-placed to advise both established and first-time fund managers on fund formation and operational concerns. Most of this work is centred in the alternatives space, with 'outstanding' team head Mathieu Scodellaro  noted for the 'very technical and responsive' advice he provides in the context of private equity and real estate funds, in particular.

Independent boutique TS&P provides a joined-up service to European and US asset managers utilising complementary expertise, most notably from its market-leading tax team, across a range of structuring and regulatory matters within the alternatives sector. Nicolas Ronzel heads the team and has broad experience in the fund sector, gleaned through both private practice as well as his past experience in-house at a funds service-provider.