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Luxembourg continues to see net inflows of capital and is now the world’s second largest fund centre with, as of August 2018, EUR4.3 trillion worth of net assets under management, and this only in regulated funds, according to the Association of the Luxembourg Fund Industry (ALFI).
Luxembourg was the first EU jurisdiction to introduce the AIFM Directive, drafting a law and filing it with the Luxembourg parliament on August 24th, 2012 well ahead of the July 2013 deadline. Since then, the Grand Duchy has increasingly embraced moving away from traditional retail cross-border fund distribution under UCITS to become a real
By Anne-Gaëlle Delabye & Tara Kapur – Non-EU managers seeking access to European capital are more frequently looking to Luxembourg parallel structures due, in part, to their flexibility and the features that the Luxembourg limited partnerships share with the Anglo-Saxon model. Ogier’s Luxembourg investment funds team – working in partnership with our teams in the BVI, Cayman and Hong Kong – have extensive experience of structuring parallel funds for clients in the US and Asia.
Luxembourg limited partnerships are increasing in popularity as a parallel structuring option, being comprehensible in structure and functionality for managers (and investors) with experience in the
Fuchs Asset Management SA (‘Fuchs AM’) is the Management Company (‘ManCo’) within the family-owned Fuchs Group located in three jurisdictions: Luxembourg, Belgium and Switzerland. As an authorised AIFM, it provides the services and the knowledge (governance, risk management & compliance, portfolio management and distribution) for asset managers, private banks, family offices and entrepreneurs wishing to launch AIFMD & UCITS compliant vehicles as easily as possible.
Over the last four years, Fuchs AM has been expanding its AIFM capabilities to support investment managers, including private equity managers, who have deep investment expertise but aren’t necessarily equipped to run their own regulated
In a recent article with Private Equity Wire seven months ago, Sean Murray, Managing Director, Alternative Assets (EMEA) at SANNE – a leading provider of alternative asset and corporate administration services with more than EUR235 billion in AuA – discussed a definitive trend among PERE fund managers to outsource their internal accounting and reporting processes.
This trend shows no sign of abating as global PE/RE groups look towards Europe, and specifically Luxembourg, to develop global distribution hubs.
Brexit is another unavoidable catalyst. Brexit has contributed to some of the growth we are seeing in Luxembourg as fund managers are looking for stability
Luxembourg’s funds industry enjoyed a good period of growth last year, a period during which assets under management grew, on average by 15 per cent, asset flows grew by 5 per cent, profits grew by 10 per cent, while margins were broadly maintained somewhere close to 37 per cent.
As of August 2018, total fund AUM in Luxembourg stood at EUR4.27 trillion, up 7.15 per cent year-on-year. Interestingly, US fund sponsors account for the largest market share, equivalent to 20 per cent of total AUM, followed by Great Britain (17.6 per cent), Germany (14. 4 per cent) and Switzerland
Impact investing has not always been the easiest ‘investment philosophy’ to benchmark, in terms of improving the health of the planet, and those who live on it, while also generating positive returns for investors. But one such fund, the New York-based Global Health Investment Fund (GHIF) is doing just that, financing the development of drugs, vaccines, diagnostics and other interventions to improve maternal and child healthcare in the developing world.
Dr Curt LaBelle (pictured) is Managing Partner at GHIF and has over 16 years’ investment experience in the healthcare space. He says that the fund’s impact is defined by “lives
Souter Investments has completed an investment in South East European pet supplies retailers through a set of transactions led by The Rohatyn Group (TRG).
The Rohatyn Group, an emerging markets asset management firm, recently announced the successful completion of its acquisitions of Pet Product SRL (Pet Product or Animax), one of the leading pet supplies companies in Romania, and MIMAJA (MIMAJA or Mr Pet), one of the leading pet supplies companies in Slovenia. The acquisitions add to its expanding pet care platform, which includes Croatia-based Pet Centar, a leading pet supplies retailer across South East Europe, with a presence across
Sidley Austin has appointed Kenneth J Baronsky as a partner in the firm’s Corporate group in Century City. Baronsky has vast experience advising companies, private equity sponsors, executives, owners and board members.
He joins from Milbank, Tweed, Hadley & McCloy LLP, where he developed a transactional practice and served as managing partner of its Los Angeles office and as its corporate practice group leader for more than a decade.
Baronsky, regarded as one of the elite corporate lawyers in Greater Los Angeles and in the US, advises on mergers, acquisitions and dispositions, equity and debt investments, restructurings and other
Corporate dealmaker T Hale Boggs III has joined O’Melveny’s Century City office as a partner in the Mergers & Acquisitions practice.
Boggs arrives from a prominent legal and professional services firm, where he was chair of the media, technology, and advertising division and venture capital/emerging companies practice.
Boggs is well-known as a trusted legal and business advisor to entrepreneurs and investors in emerging companies, with a focus on digital media. He has longstanding relationships with numerous venture capital funds in both Southern and Northern California, representing funds and their portfolio companies in a wide range of corporate transactions as
Northern Trust has processed the first live capital call using distributed ledger technology for Emerald Cleantech Fund III, adding a significant new capability to its blockchain solution for private equity fund administration.
The fully automated capital call administration functionality was deployed for Emerald Cleantech Fund III, a venture capital fund focused on technology companies. Investment advisor Emerald Technology Ventures utilised Northern Trust’s private equity blockchain for the fund’s capital call administration, endorsing Emerald’s commitment to technology leadership in alternative asset administration operations. The capital call, executed by Northern Trust and Emerald Cleantech Fund III, involved parties in the investment advisor’s
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