General overview of the Luxembourg AIF structures - Legal and tax environment

As the major location for investment funds in Europe, Luxembourg offers a broad choice of possible vehicles that meet most of the promoters' constraints, in terms of investment strategy, marketing and level of regulation or supervision. Understanding the characteristics of each of them allows participants to choose the most appropriate one for their particular project.

Tax considerations are also key and asset managers shall ensure that the fund structure is optimal from a tax perspective.

At the end of this training, participants will be able to:

• know the Luxembourg toolbox for AIFs;
• understand the characteristics, advantages and constraints of each vehicle category;
• understand the role of the different service providers to an AIF;
• understand the tax drivers that must be considered when discussing fund structuring.

• Main Luxembourg and EU regulatory framework
• Luxembourg available vehicles (part II Funds, SIF, SICAR, RAIF and partnership)
• Umbrella and share classes structures
• Main service providers (AIFM, investment manager/advisor, distributor, depositary bank, central administration)
• Tax drivers to analyse when setting up a fund

Certificate of attendance

This training is coordinated by Mathieu Scodellaro, Principal at PwC Legal and Luc Petit, Tax Partner at PwC Luxembourg.

Mathieu Scodellaro is a principal at PwC Legal. He is the head of the investment funds department and specialises in issues concerning investment funds, fund managers and the various service providers. For over 18 years, Mathieu has assisted numerous international clients in the setting-up, (re)structuring and handling of their organisation or projects. He regularly advises his clients on regulatory issues and in their relationships with the regulatory authorities.

Luc, Partner in the Alternative Tax team, advises alternative asset managers on tax and wider practical implications of setting up European funds and or European investment vehicles, both in the regulated and unregulated sphere. He has expertise in advising either private equity, hedge, real estate, infrastructure and credit funds.