Co-headed by Jean Schaffner and Patrick Mischo, A&O Shearman provides 'highly technical and client-focused advice' across a wide range of standalone advisory, transactional-led structuring and litigation involving domestic and international clients. As well as regularly advising banking clients, the team is also well-versed at handling work within the asset management sector, with Mischo very skilled at providing the tax structuring pertinent to the set up of real estate, infrastructure, private equity and debt funds, as well as on the pursuant downstream investments. Schaffner is also adept at providing fund-related tax structuring as well as handling some contentious tax work, including on EU State Aid matters. Recently promoted partner Franz Kerger is also recommended and handles a range of work related to direct and indirect taxes.
Tax in Luxembourg
A&O Shearman
Praxisleiter:
Jean Schaffner; Patrick Mischo
Weitere Kernanwälte:
Franz Kerger; Johanna Tschurtschenthaler
Referenzen
‘The firm provides highly technical and client-focused advice.’
Highlight-Mandate
- Advised a US-based global investment firm in respect of the structuring and establishment as well as ongoing operation of several of its Luxembourg investment vehicles.
- Advised a France-based global alternative investment group with respect to the tax aspects of a real estate investment in Portugal, via its Luxembourg investment platform, to develop up to 100,000 sqm residential units.
- Advised Edmond de Rothschild, via Edmond de Rothschild Asset Management (Luxembourg),on the sale to Apex of its Luxembourg-based third-party asset servicing and banking depositary as well as domiciliation activities.
Arendt & Medernach
Leveraging 'a unique well of experience' among both partners and associates, who are 'always up-to-date as regards the latest developments under Luxembourg tax law', Arendt & Medernach is well-positioned to advise corporates, funds, banks, family offices and high-net-worth-individuals across the gamut of their advisory, transactional and litigation needs. 'Fantastic' team head Jan Neugebauer is 'calm, very constructive and helpful', traits which endear him to sophisticated clients, including funds on their tax structuring, as well as financial institutions seeking to navigate the complex maze of international information exchange regulations. The vastly experienced Thierry Lesage provides 'pragmatic and creative' advice, particularly in the context of national and international tax structuring associated with fund-led M&A transactions. Other key members of the team include Alain Goebel , for transfer pricing matters; former New York office head Eric Fort , who excels at advising on corporate and private wealth tax matters with a nexus to the US; and Vincent Mahler , who is skilled at tax structuring pursuant to fund-led M&A work.
Praxisleiter:
Jan Neugebauer
Weitere Kernanwälte:
Thierry Lesage; Alain Goebel; Jan Neugebauer; Vincent Mahler; Bruno Gasparotto; Eric Fort; Philipp Jost; Stéphanie Maschiella
Referenzen
‘Beyond its technical expertise, the team benefits from a unique well of experience, which often makes the difference in identifying the right solution or designing the right structure.’
‘The team is very efficient in finding smooth solutions for clients’ needs. The lawyers are very professional and open-minded, creative but always in line with the binding law.’
‘The team is technically excellent, very responsive and always up-to-date as regards the latest developments under Luxembourg tax law.’
Kernmandanten
17 Capital
Aermont
Amundi
Astorg Partners
Bain Capital
Blackfin Capital Partner
Credit Suisse
CVC Credit
M7 Real Estate
Morgan Stanley
Highlight-Mandate
- Advised European asset manager Aermont Capital on the sale of an initial 50% stake to Keppel Limited.
- Advised TwentyTwo Real Estate in the context of the largest single-hotel acquisition in Europe of the year.
- Advised Ufenau Capital Partners, a Switzerland-based private equity firm, on the successful closing of its Continuation Fund 4, at the hard cap of Є450m.
Baker McKenzie
Combining local expertise with global best practice, the 'knowledgeable and experienced' team at Baker McKenzie acts on its own as well as frequently alongside international firmwide offices to provide 'pragmatic and solutions-oriented advice' on tax structuring associated with corporate and finance transactions, as well as advising on standalone compliance/advisory and litigation mandates. The team is best-known for its international tax structuring expertise, an area where the 'highly experienced and sophisticated' Diogo Duarte de Oliveira excels and is always able to advise on the most appropriate structure to facilitate fundraising and large-scale cross-border M&A transactions. Amar Hamouche also provides 'pragmatic and solutions-oriented advice' on corporate and international tax structuring for funds on their downstream investments (as well as on management incentive arrangements), in addition to a considerable volume of tax structuring associated with structured capital markets transactions. Antonio Weffer heads up the firm's transfer pricing sub group and often handles applicable work for funds, multinational corporates and financial services firms. As well as his flow of tax structuring for corporates, funds and financial institutions, Olivier Dal Farra, who rounds out the team at a partner level, is also noted for his 'comprehensive knowledge of wealth structuring solutions for private clients'.
Praxisleiter:
Diogo Duarte de Oliveira; Amar Hamouche; Antonio Weffer; Olivier Dal Farra
Weitere Kernanwälte:
Andrea Addamiano; Miguel Pinto de Almeida; Nicolas Jeangeorges; Antonio Merino; Georgios Merkouriou; Margherita Hausbrandt; Delfina Ascoli; Lazaros Teneketzis; Elisa Ortuno; Teresa Rodriguez; Matteo Barchi; Elise Boscher; Evangelia Nazou
Referenzen
‘The tax practice at Baker McKenzie Luxembourg is premium in international tax matters and delivers significant value for money.’
‘The knowledgeable and experienced tax team provides pragmatic and solutions-oriented advice.’
‘The team possesses a deep understanding of complex challenges across various sectors, consistently delivering tailored solutions that reflect their extensive industry knowledge.’
Highlight-Mandate
BSP
Drawing upon 'very up to date knowledge across all relevant areas of tax law', the 'responsive and experienced' team at BSP is well-positioned to provide 'tailor-made and cost-effective' advice to public and private sector clients across a range of non-contentious and contentious matters. Vastly experienced team head Alain Steichen remains active on the fee-earning front alongside his duties as managing partner, and has a varied workflow that includes advice on the tax structuring pursuant to company migrations to Luxembourg, as well as an eclectic mix of tax controversy matters and negotiations with the relevant tax authorities. Steichen has also been involved in litigation related to the exchange of information, as has Pol Mellina, whose robust litigation practice also includes representing the Luxembourg State on VAT-related tax law cases. Gaëlle Felly advises on the tax implications of intra company restructurings and M&A matters, while Daniel Riedel is a 'very imaginative problem solver' across a range of domestic and international tax issues.
Praxisleiter:
Alain Steichen
Weitere Kernanwälte:
Gaëlle Felly; Pol Mellina; Daniel Riedel
Referenzen
‘The team provides tailor-made and cost-effective advice.’
‘The very responsive and experienced team is the go-to address for Luxembourg tax questions, especially with regard to litigation-related issues. They have a very up to date knowledge across all relevant areas of tax law.’
‘They provide an excellent balance of commercial acumen and technical knowledge communicated in a straightforward manner.’
Kernmandanten
Global Infrastructure Partners
Goldman Sachs
Oneiros Investments S.A.
Luxembourg Government
Luxembourg Bar Association
B2Impact
Index Ventures
Cipriani Group
Highlight-Mandate
- Represents the Luxembourg Bar Association before the European Court of Justice in the context of a reference for a preliminary ruling on the question of the enforceability of legal professional privilege against tax authorities in exchange of information matters.
Clifford Chance
Tapping into a 'good knowledge of current market practice and trends', the 'innovative and well-resourced' team at Clifford Chance is very skilled at providing clients, including banks, funds and corporates, with 'out-of-the-box solutions' relating to the tax structuring of corporate, financing, investment and real estate transactions. In this context, the team is able to provide a seamless service, often working in a multi-disciplinary and cross-office fashion with lawyers throughout the firm's extensive international network. 'Outstanding' team head Geoffrey Scardoni has, over the years, gained particular prominence on behalf of major investment managers on the relevant tax structuring associated with their fund vehicles. He also continues to work alongside the firm's broader commercial litigation team on behalf of the Luxembourg VAT authorities on VAT litigation cases brought before Luxembourg courts by taxpayers. Counsel Josselin Badoc, who has a 'deep knowledge of local tax laws and market practice', is also pivotal to the aforementioned VAT litigation work.
Praxisleiter:
Geoffrey Scardoni
Weitere Kernanwälte:
Maxime Budzin; Josselin Badoc; Katharina Creutz; Antoine-David Freymann
Referenzen
‘The team is innovative and well-resourced is adept at providing clients with out-of-the-box solutions for their problems.’
‘The team is very strong, has good knowledge of current market practice and trends and collaborates well on large workstreams.’
‘Geoffrey Scardoni is an outstanding partner for our fund formation practice, as well as our investments structuring. He is always available, provides pragmatic solutions and is very easy to work with. He also keeps aware of the current trends and negotiation positions on the market.’
Kernmandanten
IDB Invest
Luxembourg VAT authorities (Administration de l’enregistrement, des domaines et de la TVA)
TotalEnergies
Investment manager for one of the Senior Tier 1 Lenders
Blackrock
Mercer Alternatives AG
Essling Capital
Chenavari Credit Partners LLP
Ares Management, LLC
Apollo Asset Management
Highlight-Mandate
- Advised IDB Invest as purchaser of record in connection with an A/B purchase facility for the sale and purchase of up to $1.8bn MPC Securities issued by a segregated fund administered by the Chilean Treasury, as part of a program created under Law No.21,472 of Chile (the MPC Law) to temporarily shield consumers in Chile from electricity tariff increases.
- Advised Mercer Alternatives AG on the successful structuring and establishment of its flagship successor fund, Mercer Private Investment Partners VIII SICAV-RAIF.
- Advised TotalEnergies with a multi-disciplinary and cross-border team on the tax, M&A, employment and antitrust and foreign investment aspects.
Elvinger Hoss Prussen
Elvinger Hoss Prussen is 'very skilled on both Luxembourg and international tax regulations', implementing this knowledge to excellent effect particularly for investment management clients. 'Pragmatic and responsive' team head Elisabeth Adam combines 'first-class technical knowledge with commerciality' for a myriad private funds clients on the Luxembourg tax advice related to fund structuring and subsequent downstream investment work. Nadège Le Gouellec is also key to much of this fund-related work, as well as advising on applicable tax structures for finance-related transactions and representing clients engaged in tax litigation.
Praxisleiter:
Elisabeth Adam
Weitere Kernanwälte:
Yves Prussen; Nadège Le Gouellec
Referenzen
‘They are very skilled on both Luxembourg and international tax regulations.’
‘Elisabeth Adam stands out among Luxembourg tax lawyers for her can-do, solutions-oriented approach combining first-class technical knowledge with commerciality and an appreciation of what clients need.’
‘Elisabeth Adam is business-oriented, pragmatic and responsive.’
Kernmandanten
Apollo
Azimut
Blackstone
Cinven
Luxempart S.A.
MAN Group
Star Capital
Storebrand
Colony IM
Highlight-Mandate
Loyens & Loeff
At the cutting-edge of new trends in the market, the 'responsive, very pragmatic and knowledgeable' team at Loyens & Loeff provides expert guidance to Luxembourg-based multinational corporates across a wide range of tax compliance work, as well as transfer pricing matters. The team also works seamlessly with other practice groups, most notably private equity and real estate, to provide the necessary structuring with regard to fund formation and transactional work. The 'charismatic' Peter Adriaansen is 'well-respected' in the market for his skill in handling complex corporate transactions, as well as for ultra high-net-worth individuals and family offices on private wealth-related tax matters. Peter Moons co-heads the team alongside Adriaansen and is particularly skilled at advising on transfer pricing issues. Other key practitioners include the 'smart and business-oriented' Pierre-Antoine Klethi who handles fund structuring and tax litigation; the 'very talented' Tom Hamen, who excels at providing tax structuring on real estate matters; and Aline Nunes , who is very skilled at advising on cross-border mandates and is noted for her conversance with the 'relevant tax developments that impact investments into and out of Luxembourg'.
Praxisleiter:
Peter Adriaansen; Peter Moons
Weitere Kernanwälte:
Frank van Kuijk; Pierre-Antoine Klethi; Kévin Emeraux; Tom Hamen; Aline Nunes; Christine Beernaerts; Dominique Afink; Karin Finne; Philippe Hoffmann; Kheira Mebrek; Sabrina Million; Menno Maat; Megane Lindecker; Sophie Ogden; Viktoriia Khodyreva; Agnès Hedin
Referenzen
‘They have great expertise and deep understanding of the real estate business.’
‘They are very knowledgeable of hot topics, current trends and how to tackle new laws and regulations that we need to comply with. They are also easily accessible and always readily available, and provide great feedback and support in every matter we deal with them on.’
‘They are responsive, very pragmatic and knowledgeable.’
Kernmandanten
Amgen
StoneCo
Ancala Partners
Amazon
Allianz Finance
Atento SA
Tele Columbus
European Commission
AFE
Highlight-Mandate
- Assisted Amgen Inc. on the Luxembourg tax and legal aspects of the acquisition and integration of Horizon Therapeutics for a value of $27.8bn
- Advised StoneCo. to structure a Luxembourg Securitization Fund to enter into a $467.5m revolving securitisation facility with the United States International Development Finance Corporation (DFC), an agency of the US government.
- Advised the European Commission in respect to the establishment of the new EIS infrastructure.
TS&P
Leveraging 'a very deep knowledge of Luxembourg and international tax topics', including on contentious and non-contentious matters relating to direct and indirect tax, independent business law boutique TS&P has gained an impressive foothold in the market since it was established in 2018. The team's rapid ascendancy in the market has largely been forged by the efforts of founding partner and team head André Pesch who 'has an incredible knowledge of Luxembourg tax law and the rationale behind it'. As well as being able to find the 'solutions in highly complex corporate transactions', Pesch is also noted for his involvement at a policy level in both Luxembourg and throughout Europe. VAT specialist François Antoine has 'an incredible knowledge of all rules at domestic and EU level', ensuring that he is a valued adviser to corporates and funds on the indirect tax law elements of their investment structuring, as well as in the context of VAT litigation. The 'pragmatic' Romain Jacques is lauded for his ability to provide 'clear and concise advice' across all aspects of international tax law for alternative investment funds, in particular.
Praxisleiter:
André Pesch
Weitere Kernanwälte:
François Antoine; Romain Jacques; Arnaud Lebrave; Emilie Mattos; Carlos Morales Ribas; Laurent Gengler; Camille Tridon
Referenzen
‘The tax team is composed of highly experienced tax specialists with a very deep knowledge of Luxembourg and international tax topics.’
‘The TS&P tax team are second-to-none. They are technically outstanding but also creative, commercial and pragmatic.’
‘Andre Pesch is uniquely strong technically and has an incredible knowledge of Luxembourg tax law and the rationale behind it; there is nobody as good as him in the market.’
Highlight-Mandate
Charles Russell Speechlys
Charles Russell Speechlys is known for its 'proactive approach to tax planning', often working closely with regulatory authorities and alongside colleagues across the firm's international offices to provide 'tailored solutions' on complex cross-border tax structuring matters. Much of the work in this space is centred within both the private capital and family capital segments, with the team excelling in advising both privately owned investment funds/corporates, as well as ultra-high-net worth individuals and family offices deploying capital utilising a range of strategies. Team head Yacine Diallo, who has 'unmatched technical expertise and a strategic mindset', takes the lead on much of this international tax structuring work and is particularly skilled at assisting clients investing in the Middle East and North Africa region. At a more junior level, Alexis Urbin-Choffray continues to impress with his ability to 'quickly grasp complex issues and offer practical solutions', particularly on tax structuring associated with private equity transactions and on corporate reorganisations.
Praxisleiter:
Yacine Diallo
Weitere Kernanwälte:
David Cordova Flores; Alexis Urbin-Choffray; Estelle Jeanvoine
Referenzen
‘The Luxembourg tax team at CRS distinguishes itself through its deep expertise in both domestic and international tax law and is known for its proactive approach to tax planning and ability to provide tailored solutions.’
‘The corporate tax practice at Charles Russell Speechlys Luxembourg stands out for its exceptional expertise in handling complex tax matters for businesses, especially in areas involving cross-border transactions and restructuring.’
‘Yacine Diallo stands out as a partner with unmatched technical expertise and a strategic mindset. His ability to simplify complex tax issues for clients while offering innovative solutions is truly remarkable.’
Kernmandanten
Vitro
Highlight-Mandate
- Advised Vitro, the largest glass manufacturer in North America, on a major international restructuring project to transfer their entire automotive business and the majority of the architectural and packaging businesses to their new holding company in Luxembourg, which would eventually be listed in the Luxembourg or the London stock exchange.
CMS
With 'a nuanced understanding of market trends, regulations, and challenges', CMS excels in providing 'cutting-edge innovation and a personal, client-focused approach' to an investment management-focused client base that includes private equity firms, family offices and real estate funds. Much of the work is of a cross-border nature, where the team is particularly well-positioned to advise by virtue not only of its knowledge of international tax laws but also its collaborative approach with global offices at the firm. 'Brilliant' team head Frédéric Feyten 'thinks out of the box and always provides tailored suited advice'.
Praxisleiter:
Frédéric Feyten
Weitere Kernanwälte:
Alejandro Dominguez
Referenzen
‘The team has years of experience working in specialized sectors, giving them a nuanced understanding of market trends, regulations, and challenges.’
‘The practice is recognized not just for its technical excellence but also its ability to innovate and adapt in an evolving industry landscape.’
‘What makes this practice truly unique is its blend of deep expertise and an innovative approach to problem-solving.’
Kernmandanten
Verdion
3SIIF
Schroders
Highlight-Mandate
- Representing UK-based pan-European logistics real estate specialist Verdion on the tax aspects of its acquisition of a warehouse asset in a well-located logistics location in Denmark.
- Advised 3SIIF on the tax aspects of a high-profile, cross-border multibillion-euro fund launch and its structuring, and continues to act as its legal counsel, including notably the onboarding of new investors, joint venture investments by EBRD and DFC financing.
- Representing leading UK-based global asset management company Schroders in relation to a reorganisation of its structure.
Dentons
With 'rich expertise in tax and corporate legal matters', the 'very pragmatic' team at Dentons is deeply knowledgeable across both domestic and international tax matters, and provides 'pragmatic and solutions oriented' advice to corporates, funds and financial institutions across across a range of advisory/structuring matters. Much of this is in the context of cross-border mandates, with the firm able to provide an holistic service often working alongside colleagues from across the firm's extensive international footprint. Benefiting from excellent contacts throughout the tax ecosystem, a function of his many years' expertise operating at the very pinnacle of the market, Jean-Luc Fisch remains 'one of the top references for tax law in Luxembourg’, excelling at advising funds on tax efficient pan-European investment platforms.
Praxisleiter:
Jean-Luc Fisch
Weitere Kernanwälte:
Romain Baroan; Vincent Quittre; Alexandre Michorczyk
Referenzen
‘With rich expertise in tax and corporate legal matters, the team is very proactive and delivers exceptional client service. Feedback is pragmatic and solutions oriented.’
‘Good knowledge of the Luxembourg and international tax laws. Practical approach and swift services.’
‘Jean-Lux Fisch has a high level of technical expertise and is one of the top references for tax law in Luxembourg.’
Kernmandanten
Islamic Development Bank
Equita Sim S.P.A.
EAG Group
Parthena Reys
Highlight-Mandate
- Assisted the EAG Group with the financing of the expansion of its business and operations through various future acquisitions of target entities.
- Advised the Islamic Development Bank on the issuance of $2bn trust certificates under its $25bn trust certificate issuance program.
- Assisted Equita SIM S.p.A., a leading independent investment bank in Italy, on the Luxembourg tax aspects relating to the issuance by Maire Tecnimont S.p.A. of up to €200m senior unsecured sustainability-linked notes.
DLA Piper Luxembourg
Acting on its own as well as often alongside fee-earners throughout the firm's impressive international network, DLA Piper Luxembourg is best-known for its ability to provide tax structuring associated within the alternative investment funds space. 'Very responsive' team head Luis Muñoz is key to much of the tax structuring on cross-border investments handled by private equity sponsors and real estate funds, as is Jacques Wantz, who is recognised as 'a trusted advisor with exceptional industry knowledge and commercial acumen'.
Praxisleiter:
Luis Muñoz
Weitere Kernanwälte:
Jacques Wantz; Emre Akan; Matteo Pogliani; Cyril Poels
Referenzen
‘Jacques Wantz is a trusted advisor with exceptional industry knowledge and commercial acumen.’
‘Luis Muñoz is very responsive and free at short notice to discuss complex tax topics.’
Kernmandanten
Ardian France
Claret Capital Partners Limited
Generali Investments
Novaxia Investment
Energy Infrastructure Partners A.G.
Beaufort Capital
Campbell Global LLC
Colliers Global Investors
Fortress Investment
Highlight-Mandate
- Advised Ardian France on the structuring of its acquisition of a 15% stake in the holding company of Heathrow Airport.
- Advised Ardian France on the setting up of a Luxembourg investment fund dedicated to large-scale nature-based projects.
- Assisted Claret Capital Partners, on the tax structuring, establishment and launch of a complex parallel fund structure.
Eversheds Sutherland (Luxembourg) LLP
'Rich in local tax knowledge and cross-border tax expertise', the 'dynamic' team at Eversheds Sutherland (Luxembourg) LLP has rapidly gained market traction under the very effective leadership of Rafael Moll de Alba since he joined in 2021 from Charles Russell Speechlys. Leveraging the firm's broader practice area skills - including across corporate and investment management - as well as having access to lawyers spread across the firm's international network, the team has been particularly active in relation to the Luxembourg-related tax structuring associated with fund launches (and pursuant investments), as well as across a range of restructuring work and corporate-led M&A. Praised for his 'legal expertise but also for his exceptional soft skills’, de Alba also excels in advising on tax structuring matters with a nexus to the LATAM region, as well as Spain.
Praxisleiter:
Rafael Moll de Alba
Weitere Kernanwälte:
Myrto Archontaki
Referenzen
‘From my experience, the dynamic tax practice at Eversheds Sutherland (Luxembourg) LLP is rich in local tax knowledge and cross-border tax expertise.’
‘Rafael Moll de Alba maintains a high level of technical expertise, accessibility and ability to solve problems and find solutions.’
‘Rafael Moll de Alba is an outstanding lawyer to work with, not only because of his legal expertise but also for his exceptional soft skills.’
Kernmandanten
Sprecher Berrier ME (FZE)
Sura Investment Management Colombia S.A.S.
Deutsche Bank
Stellus Capital Management
Blossom Capital
Erebus Real Estate Partners
SELAS
Primis Investment
Banque de Patrimoines Privés
Blockchain Strategies
Nuveen Real Estate
Sherwin Williams
Forever Good
Highlight-Mandate
Linklaters
Often working in close co-ordination with transactional lawyers across the corporate, funds and finance groups, in particular, and also having access to the expertise of lawyers spread throughout the firm's international network of offices, the 'organised, knowledgeable and highly responsive' team at Linklaters excels in providing the appropriate tax structuring pursuant to cross-border mandates in M&A, financing and restructuring contexts. Joakim-Antoine Charvet has an 'excellent knowledge and competence of the Luxembourg law' and heads up a team that also includes Danièle Buchler, who provides 'a practical and well-rounded approach' to asset managers in the set-up and tax structuring of joint venture companies and fund vehicles.
Praxisleiter:
Joakim-Antoine Charvet
Weitere Kernanwälte:
Guido De Wit; Danièle Buchler; Adrien Piron; Cyrielle Nis; Delphine Martel
Referenzen
‘Organised, knowledgeable and highly responsive, work quickly and a high degree of co-ordination with their Linklaters colleagues both in other departments.’
‘They have excellent knowledge of Luxembourg’s tax environment and law, and provide practical and useful advice.’
‘The team creates a tailored approach for each client and aligns with specific needs, deadlines. Takes initiatives when needed and manages client expectations appropriately. Good communication and transparency.’
Kernmandanten
Lecta Group
CACEIS
Triton Partners
Ares Capital Corporation
Ardian
Cerberus
Stoneshield Capital
Deutsche Beteiligungs AG
CA Indosuez Wealth (Europe) S.A.
Pontegadea Luxembourg SARL
Montagu Private Equity
Highlight-Mandate
- Advising Indosuez Wealth Management Group, a subsidiary of French international banking group Crédit Agricole Group, in the context of the acquisition of majority stake in Degroof Petercam.
- Advising on all tax aspects to Stoneshield Capital on the structuring and sale of MiCampus student accommodation real estate portfolio to a fund anchored by UBS AM.
- Advising Ardian Infrastructure Fund VI SCS, SICAV-RAIF and Ardian Infrastructure Fund VI B SCS SICAV-RAIF (“ARDIAN”) on the acquisition of the entire share capital of Verne (formerly Verne Global), a leading data centre platform headquartered in the UK and diversified across Northern Europe.
NautaDutilh
With strong domestic and international taxation knowledge, NautaDutilh is a popular choice among a varied roster of clients, including banks, funds and corporates, to provide the relevant tax structuring pursuant to a range of local and cross-border transactions. A good deal of this work is centred around the investment management sector, an area that team head Jean-Marc Groelly excels, including for private equity firms, not just on their fund structuring and pursuant downstream investments but also in the context of drafting applicable incentive schemes. The 'brilliant' Audrey Derep is also a key member of the team and handles a myriad of direct and indirect tax advisory/structuring work.
Praxisleiter:
Jean-Marc Groelly
Weitere Kernanwälte:
Audrey Derep; Isabelle Absalon
Referenzen
‘The responsive team provides clear and detailed advice.’
‘Audrey Derep is a brilliant lawyer.’
Kernmandanten
ARA Venn Partners (formerly Venn Partners)
Taconic Capital Advisors
Tosca Fund Asset Management LLP
Sonae Sierra Brasil Group
Schwarz Group, SAF-Holland SE
Structured Capital Partners
Horizon Equity Partners
Partners Group
Highlight-Mandate
- Assisted Sonae Sierra with their diversification strategy through the launch of a hospitality joint venture together with PGIM Real Estate aimed at acquiring hotels in Iberian leisure destinations.
- Assisted a leading alternative investment firm with tax and legal aspects related to the debt restructuring of an international food delivery group.
- Advised a major US asset manager with the sale of one of their major commercial real estate assets located in Italy.
Norton Rose Fulbright
Combining an 'exceptional' blend of local knowledge with a strong international perspective, the 'technically excellent and user friendly' team at Norton Rose Fulbright is best-known for its ability to advise on the tax structuring pursuant to the office's growing fund, corporate and banking transactional practices. Here the team, which often works alongside lawyers from other international firmwide offices, excels in providing 'solutions that are both innovative and compliant with local and international tax laws'. Team head Florent Trouiller, who 'stands out for his exceptional expertise and strategic thinking in the field of taxation', takes the lead on the most complex tax structuring, including as it relates to private equity-led M&A, as well as with regard to the establishment of regulated and unregulated investment funds.
Praxisleiter:
Florent Trouiller
Weitere Kernanwälte:
Raphaële Kamoun; Inès Niot
Referenzen
‘The tax team is highly professional and keeps a proactive approach towards its clients in order to fully understand their needs and expectations.’
‘What makes them stand out is their exceptional blend of local expertise and international perspective. They excel in providing tailored, client-focused solutions, ensuring that each matter receives the attention it deserves, with clear communication and rapid responsiveness.’
‘They consistently deliver innovative solutions, especially in complex, cross-border transactions, and stay ahead of regulatory changes, which ensures clients are always well-prepared for future challenges.’
Kernmandanten
Appian Capital Advisory LLP (UK)
Brookfield Asset Management
Citigroup Inc.
Generali
AG2R La Mondiale
LFIS Capital
Deutsche Finance International
Oxus Development Network
The Hokus Platform S.à r.l.
Tristan Capital Partners
Handicap International Luxembourg
Hummingbird Ventures
Unigestion
Vistra Holding S.à r.l.
Mindston Capital
Cornèr Bank
Province of British Columbia
Highlight-Mandate
Stibbe
The 'very responsive' and 'well-rounded' team at Stibbe provides 'top-notch and meaningful advice' to corporates, funds and financial institutions on the Luxembourg tax law implications, in particular, on cross-border transactions, as well as advising on the impact of relevant legislative changes at an EU level. Key to the team's success in the market is the leadership and fee-earning skills of Johan Léonard, whose combination of 'excellent technical knowledge with a great grasp for the needs of businesses' has increasingly led to the practice being a net exporter of work within the firm to other practice groups. A 'Luxembourg and international tax encyclopedia', Leonard combines 'strong academic credentials with a very pragmatic and practical approach to transactions and structuring projects', including within the private equity space.
Praxisleiter:
Johan Léonard
Weitere Kernanwälte:
Christophe Martin-Raynaud; Anaïs Bracqbien; Pierrick Romancant
Referenzen
‘In my opinion, the team is unique and brilliant. They are my go-to option when it comes to excellence in delivery. ’
‘The team is very responsive, and provides top notch and meaningful advice.’
‘Stibbe has a very well established and well-rounded tax team in Luxembourg. The team is able to provide excellent on-point advice in extremely high quality on all matters related to Luxembourg tax law.
Kernmandanten
AUNA S.A.
Corsair Capital
Atairos
Ginkgo Advisor
Almacantar
Highlight-Mandate
- Advised AUNA S.A. with the tax aspects of its listing on the NY Stock Exchange.
- Advised leading investment firm with the acquisition of a €1.5bn French family owned business.
- Advised senior lenders in a €1.3bn restructuring and refinancing of multinational specialised in household products.
AKD
AKD provides 'timely, technically sound and practical solutions' to stakeholders in the asset management industry, in particular, across a range of tax advisory, compliance and tax structuring matters. The team is particularly well-placed to advise on Benelux-related cross-border mandates, often working with colleagues in Amsterdam and Brussels. The 'extremely intelligent and experienced' Ayzo van Eysinga and 'technically sound' Rutger Zaal co-head the team.
Praxisleiter:
Ayzo van Eysinga; Rutger Zaal
Weitere Kernanwälte:
Joël Butkiewicz-Jung
Referenzen
‘The team provides timely, technically sound and practical solutions at a cost-effective price point.’
‘They provide best in class tax advice on par with the largest law/tax firms in the market.’
‘Rutger Zaal is personally engaging, knowledgeable, thorough, and presents/communicates well with both our inhouse tax team and our board. He proactively updates us on Luxembourg developments relevant to our business and provides both technically sound and practical solutions and advice to us.’
Kernmandanten
T-Capital
McCourt
The Alberta Investment Management Corporation (AIMCo)
Peakside Capital advisors
Baytex Energy Corporation
ARB Advisors
Stellex
LGT
Kadens
KKR
Kronos
PICTET
Partners Group
Azzurra Capital Management FZE
Neuberger Berman
Agile
Carlyle
Bridgepoint
Schroders Adveq
JPMorgan
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Bonn & Schmitt
At independent full-service firm Bonn & Schmitt, Stéphane Ebel 'is a great and skilled professional who knows the market very well’, ensuring he is well-placed to advise funds and corporates across a range of indirect and direct tax matters, including with regard to litigation. Anne Selbert co-heads the team alongside Ebel and has a focus on corporate tax.
Praxisleiter:
Stéphane Ebel; Anne Selbert
Referenzen
‘Stephane Ebel is a great and skilled professional who knows the market very well.’
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Dechert Luxembourg
Dechert Luxembourg's team head Olivier Gaston-Braud often forms part of a multi-disciplinary, cross-office team providing the tax structuring advice pursuant to work carried out by the firm's roster of alternative funds clients.
Praxisleiter:
Olivier Gaston-Braud
Weitere Kernanwälte:
Lydia Chemini
Kernmandanten
AENU
HAEK MASTER S.A. SICAV-RAIF
StepStone Group Limited
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DSM Avocats à la Cour
Combining 'strong local expertise with a global perspective', DSM Avocats à la Cour provides 'tailored, strategic advice' to corporates, private clients and funds across a range of advisory and transactional-related work. Although the team is headed by managing partner Mario Di Stefano, much of the day-to-day work is handled by the 'hands-on' Alex Pham, including in the context of tax litigation.
Praxisleiter:
Mario di Stefano
Weitere Kernanwälte:
Alex Pham
Referenzen
‘DSM Avocat à la Cour’s tax practice is known for its strong local expertise with a global perspective, uniquely positioning it to handle complex tax issues in Luxembourg. The team offers tailored, strategic advice, with strengths in cross-border tax structuring, M&A tax planning, VAT, and tax litigation.’
‘Clients benefit from a hands-on approach, ensuring tax strategies align with their broader business objectives.’
‘Alex Pham is very personal and displays a hands-on approach.’
Kernmandanten
C2Pharma
Wagner Group
Highlight-Mandate
- Represented C2Pharma, challenging a €15m tax assessment involving complex transfer pricing and professional expenses deduction.
- Advised on the tax structuring for the sale of 85% of European Data Hub, a Luxembourg data centre operator, to a European investment fund.
- Successfully represented UHNWIs in challenging a €7.5m tax assessment by the Luxembourg tax authorities.
Goodwin
Forming a central part of the office's alternative funds offering, Goodwin's tax team provides the tax input pursuant to the establishment of Luxembourg domiciled fund structures. Team head Bastien Voisin is pivotal to this work, providing 'practical advice', including to private equity, venture capital and debt funds.
Praxisleiter:
Bastien Voisin
Weitere Kernanwälte:
Julien Schraub; Yann Ricard
Referenzen
‘They have an excellent understanding of cross-border tax matters in relation to Luxembourg domiciled fund structures.’
‘The excellent Bastien Voisin provides practical advice.’
Kernmandanten
Clarion Partners Europe
Intermediate Capital Group
Marlin Equity Partners
McWin Capital Partners
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Hogan Lovells (Luxembourg) LLP
Acting on its own and collaborating well with other relevant practice groups, as well as lawyers in different firmwide offices, the 'reactive and pragmatic' team at Hogan Lovells (Luxembourg) LLP provides 'comprehensive guidance' to clients across a range of direct and indirect tax matters. As well as being very conversant with private capital-related issues (both on fund set-ups and downstream investments), team head Gérard Neiens provides 'exceptional advice' in relation to complex financing and restructuring mandates for creditors and debtors.
Praxisleiter:
Gérard Neiens
Weitere Kernanwälte:
Jean-Philippe Monmousseau
Referenzen
‘It is a reactive and pragmatic team.’
‘The team excels at explaining complex topics in clear, accessible language—a skill we value greatly as non-lawyers.’
‘The team collaborates effectively and consults other experts as needed, ensuring comprehensive guidance.’
Kernmandanten
Riverrock European Capital Partners LLP
Volkswagen
AXA IM Alts
K10 / The Independents
M&G / Infracapital
Portland Private Equity
14 Peaks
Claranova
Tikehau
YESSS
Timberland Investment Resources Europe
Triton
Stellantis Bank
Highlight-Mandate
- Advised RiverRock European Capital Partners LLP on its acquisition of a 89.2% stake, alongside Horizon, in Euroscut Azores, a Portuguese shadow toll road in the Azores.
- Advised Portland Private Equity on the setup of their Luxembourg investment fund Portland Caribbean Fund III.
- Advised Banks Mediobanca S.p.A. and Natixis S.A. on the financing package supporting Energy Infrastructure Partners (EIP)’s equity investment in Italian energy company ENI Plenitude.
Mourant
With an 'outstanding knowledge of current Luxembourg tax rules and how they impact clients acting in an international environment', Mourant is very well-suited to advising on the tax structuring for strategic and financial investors on cross-border M&A. In addition, the team is also skilled at handling advisory and contentious work for private clients, including HNWIs and family offices. The 'exceptional' Eléonore Galleron has very effectively eased into the role of team head following the departure in June 2024 of Pierre-Yves Magerotte, and is appreciated for her ability to 'make the link between pure tax questions and pragmatic business-oriented solutions'.
Praxisleiter:
Eléonore Galleron
Referenzen
‘The team is really responsive and helpful. They took the time to go through all the details/process to be sure that we had the full picture and that we understood everything.’
Compared to other firms, Mourant offers a rare combination of personalized, tailored advice and top-tier technical expertise. I highly recommend them for any M&A tax work.’
‘Mourant has a very reactive tax and legal teams and knows also the private client market which is not so obvious in the Luxembourg market. They are very reactive and the value of the work done is very good.’
Kernmandanten
Helios Clear Fund SCSp
Highlight-Mandate
- Advised a consortium of investors with the structuring and set up of a Luxembourg securitization vehicle which purpose is to issue financial instruments to banks on behalf of private investors.
- Advised Helios Clear Fund SCSp on the entry of institutional investors into the fund such as the European Investment Bank.
- Advised an audiovisual group on a corporate restructuring in advance of the contemplated disposal of the group.
Simmons & Simmons in Luxembourg
Leveraging the firm's overarching industry strength within the asset management and financial services sectors, in particular, Simmons & Simmons in Luxembourg is best known for advising on the direct and indirect tax aspects associated with capital markets and investment funds set up and transactions. Team head Julie Carbiener takes the lead on this work and has 'a very good understanding of the specificities of the Luxembourg market'.
Praxisleiter:
Julie Carbiener
Weitere Kernanwälte:
Camille Bénézet
Referenzen
‘Very good team. Nice to work with and always available when needed’
‘Julie Carbiener is very friendly and super helpful. She always put extra-effort to keep the client happy. She has a very good understanding of the specificities of the Luxembourg market. A “rising star” for sure !’
Kernmandanten
Delta Promotion
June Capital
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Ashurst
In a rebuilding phase following the departure in 2023 of Georges Simon and Cécile Henlé, who set up tax boutique SIMON Law, Ashurst‘s team is now headed by Alexandra Clouté, who joined in January 2024 from Arendt & Medernach. Since arriving Cloute has worked closely with practitioners in key international offices, including London, on the Luxembourg structuring associated with funds-related M&A and fund launch mandates.
Praxisleiter:
Alexandra Clouté
Weitere Kernanwälte:
Adnand Sulejmani
Kernmandanten
Fair Market Value Capital Partners
Deutsche Bank
Castlelake
Intermediate Capital Group LLP
Generali Investments
Agilitas Private Equity LLP
Highlight-Mandate
- Advised Fair Market Value Capital on the acquisition of a 28 percent interest in PSA Italy.
- Advised on a €149m facility from Deutsche Bank for Côte d’Ivoire healthcare project.
KLEYR GRASSO
KLEYR GRASSO provides a 'pragmatic approach' to corporates and funds, in particular, seeking to implement the optimal Luxembourg tax structure in relation to their domestic and cross-border transactional work. Team head Lionel Bonifazzi has an 'impressive breadth of knowledge' which encompasses the aforementioned transactional-related tax structuring as well as work for tax payers in administrative and judicial proceedings in a contentious setting.
Praxisleiter:
Lionel Bonifazzi
Weitere Kernanwälte:
Valeria Ercolin
Referenzen
‘They are very competent and display a friendly and pragmatic approach.’
‘Their expertise is not merely theoretical; they have direct, practical experience in navigating interactions with tax authorities, giving clients confidence in their ability to handle real-world challenges effectively.’
‘Lionel Bonifazzi is a great Luxembourg tax and corporate lawyer with extensive experience. He has a cautious approach and always takes the time to assess the situation.’
Kernmandanten
Starlight S.à r.l.
Excellium Group
Flagstaff Investments S.à r.l.
Vesper Investment S.à r.l.
Omnione S.A.
DDM Group Finance S.A.
Antobella S.à r.l.
Jost Group
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Maples Group
Squarely focused on the asset management sector, Maples Group‘s tax team provides ‘fully integrated advice’ alongside its investment funds team on structuring issues relating to fund set up, as well as downstream investments. Recently appointed practice head James O’Neal has developed an expertise in the mandatory disclosure rules under DAC6 and automatic exchange of information regimes. Jean-Dominique Morelli left the firm.
Praxisleiter:
James O’Neal
Weitere Kernanwälte:
Ines Annioui-Schildknecht
Referenzen
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Kernmandanten
Marathon
Stoneshield
U.S. International Development Finance Corporation
Highlight-Mandate
- Advised Marathon with, among other issues, the tax considerations of the set-up of a new investment fund structure comprised of four Luxembourg limited partnerships, including an intermediate and lower tier structures.
- Advised Stoneshield on, among other issues, the tax considerations in relation to a reorganisation of their European Student Accommodation Core Fund and drafted the relevant terms to meet the commercial objectives and assisted Stoneshield with the negotiations and drafting around a significant investment by a new investor, both of which necessitated a complex re-write of the terms of the existing private placement memorandum.
- Led the advice on a $467.5m revolving securitisation facility to a Luxembourg special purpose vehicle. The SPV proceeds were used to finance the acquisition of up to $14bn of credit card receivables generated by Brazilian micro, small and medium-sized enterprises with women ownership or a majority of women workforce.
Ogier
Formed in February 2023 following the arrival of practice head Aurélie Clementz from Linklaters, Ogier‘s tax team forms a key part of the firm’s ability to provide highly integrated advice to clients in the asset management space, working seamlessly with the investment funds team on fund set ups, as well as with corporate on the pursuant M&A.
Praxisleiter:
Aurélie Clementz
Weitere Kernanwälte:
Hadrien Brémon; Muriel Jarosz
Referenzen
‘They are quick to align internally and deliver practical solutions under time pressure.’
‘Aurélie Clementz and Hadrien Brémon are both recommended for their practical and commercial approach.’
Kernmandanten
Maple Knoll Capital
Highlight-Mandate
- Provided legal and tax advice to MKC Munsbach Properties S.à r.l., managed by Maple Knoll Capital Ltd, on the refinancing and expansion of its loan facility for the E-Building in Munsbach, Luxembourg.
- Provided legal advice to a multi-stage investment firm, in a tax dispute with the Luxembourg tax authorities.
- Advised a specialist in cutting-edge M&A advisory services on the tax aspects of establishing its first Luxembourg alternative investment fund aimed at investing in growth companies within the technology sector.
Pinsent Masons
Pinsent Masons' 'outstanding' team head David Maria provides 'solutions-oriented advice' to funds, corporates and high-net-worth-individuals across a range of advisory/tax compliance and tax structuring matters associated with transactional mandates handled by the corporate and investment funds offerings at the office.
Praxisleiter:
David Maria
Weitere Kernanwälte:
Stephanie Raffini
Referenzen
‘The team is responsive has excellent technical skills and is very efficient.’
‘The team is very pragmatic.’
‘The outstanding David Maria is very dedicated and provides solutions-oriented advice.’
Kernmandanten
Stena International S.A.
SPE Capital
Carta (formerly Vauban)
Berkeley Asset Management LLP
Francesco Giliberti
Southern Harvest Romania Holdings Sarl
Nexxus Iberia SGEIC, S.A.
Highlight-Mandate
- Provided tax structuring relevant to Stena International in the issuance of (i) €700m 7.250% Senior Secured Notes due 2031 and (ii) €400 million 7.250% Senior Secured Notes due 2031.
- Advised SPE Capital on the sale of Amanys Pharma to Laprophan. Advised on the tax consequences of the shareholding in a company incorporated under Moroccan law taking into account the impact of the recapture in Luxembourg and the applicable DTT provisions. Work on management incentive plan at Luxembourg level (implementation and upon exit).
- Advised SPE Capital on the tax consequences of the acquisition of a Luxembourg company holding a group of companies active in 10 French-speaking West and Central Africa countries either by a Luxembourg SPV or a Mauritius global business company.
White & Case S.à r.l.
Established in May 2024, following the arrival of Guilhèm Becvort from A&O Shearman, White & Case S.à r.l.'s nascent tax team works in a synergistic fashion alongside the office's growing funds and corporate functions to provide the relevant tax planning and risk management advice on complex, cross-border transactions.
Praxisleiter:
Guilhèm Becvort
Weitere Kernanwälte:
Arnaud Marquet
Referenzen
‘The Luxembourg team, especially, have been immensely supportive and professional, delivering timely advice.’
‘Arnaud Marquet stands out as an up and coming lawyer who goes above and beyond with professionalism, charisma and creativity.’
Kernmandanten
Macquarie Asset Management
Orpea
Morgan Stanley
Koninklijke VolkerWessels
Credit Agricole Corporate and Investment Bank
Deutsche Bank
Emira Property Fund Limited