Luxembourg: Fund Management/ REITs

Luxembourg is poised to expand its investment fund structuring capabilities by allowing alternative investment funds structured as common or special limited partnerships to establish...

Luxembourg has introduced a landmark legislative reform allowing unregulated alternative investment fund (AIF) limited partnerships to adopt multi-compartment structures. This development enables fund sponsors to consolidate multiple investment strategies, investor classes, and fund-level structures within a single limited partnership, significantly reducing complexity and administrative burden while maintaining creditor protection and investor segregation.

Luxembourg is poised to expand its fund structuring capabilities by allowing common and special limited partnerships (SCS and SCSp) that operate as alternative investment funds to establish ring-fenced compartments...

The Luxembourg Stock Exchange has introduced EM3S, a professional market segment that enables investment funds to achieve the institutional credibility of a Luxembourg listing while maintaining confidentiality over sensitive fund documentation.

The Luxembourg law of March 3, 2026 transposed the AIFMD II Directive into national law, introducing significant changes to the regulatory framework governing alternative investment funds. This article examines the practical implications for financing transactions involving Luxembourg AIFs, analyzing how the new rules on loan origination, leverage caps, concentration limits, and enhanced disclosure requirements affect both lenders and borrowers in structured finance arrangements.

US private fund sponsors trend towards the use of Luxembourg access points in their fund complexes to tap into the EU investor market. Such an access point qualifies from an EU regulatory perspective...

US fund managers (USFM) show an increased appetite for using their own EU-based licensed entity to manage their European private (parallel) funds.

Under AIFMD 2.0, the transfer to third parties of loans originated by Luxembourg alternative investment funds (AIFs) managed by an EU alternative investment fund manager (EU AIFM)...

On 19 December 2025, the CSSF published the Circular CSSF 25/901 (the "Circular"), which relates to the assets, investment limits, risk capital, techniques, borrowing, and transparency requirements in relation to SIFs, SICARs and Part II UCIs.