Formerly at A&O Shearman, Joanna Pecenik Vergès d’Espagne heads up the nascent funds team at Herbert Smith Freehills Kramer LLP, following the opening of its Luxembourg office in February 2025. d’Espagne is well regarded for her skill at assisting asset managers and sponsors utilise the appropriate regulated and unregulated vehicles to best facilitate their alternative investment strategies.

Founded in May 2025 as a spin-off from Van Campen Liem, LAB Partners has a core focus on the asset management sector and is well-equipped to help fund managers on the establishment and closing of Luxembourg-based funds as well as investments, including those in the venture capital sphere. Founding partners Renaud Graas and Olivier Wuidar both have experience in the alternatives space.

April 2025 heralded the entry of Simpson Thacher & Bartlett SCS into the Luxembourg market, with its funds team structured around former A&O Shearman partners Jean-Christian Six, a fund formation specialist and Yannick Arbaut, who is active in the private equity, real estate and credit sectors.

A&O Shearman‘s clients benefit from access to lawyers with ‘a deep knowledge of the Luxembourg fund industry’, and the team works with the firm’s corporate, banking and tax teams to provide a full service for alternative investment fund managers. The ‘commercially minded’ Miao Wang is adept at structuring myriad regulated and unregulated private investment funds, while also excelling in assisting DFIs, sovereign wealth and pension funds on their investments. Vittoria Faraone, who joined the partnership in May 2025, is adept at advising on the establishment of a range of private funds, as well as having capability on the retail front. Yannick Arbaut and Jean-Christian Six departed the firm in April 2025. February 2026 saw Kristof Meynaerts, formerly of Clifford Chance, take up leadership of the practice, following Severina Käppeli's arrival in September 2025.

Arendt & Medernach funds practice incorporates legal, regulatory and tax expertise, and has the strength-in-depth to handle a broad range of work. On the retail front, the team is a market-leader for UCITS work, with Florence Stainier taking the lead on these mandates and leveraging her ‘deep knowledge of regulation and market practice’. Michèle Eisenhuth and Claude Niedner are also well-versed in the retail space, with Niedner also skilled at advising on hybrid products, including the structuring of European Long-Term Investment Funds. Adrian Aldinger has an ‘in-depth knowledge about Luxembourg fund structures’, including for alternative funds investing in private credit, secondaries and infrastructure strategies. Other key practitioners include team head Gilles Dusemon, who excels in advising on innovative strategies in the private fund space, including on the structuring of evergreen funds; Isabelle Lebbe, who has niche expertise on sanctions and ESG-related fund issues; Nicolas Bouveret, who brings ‘valuable insights’, including on private debt work; the ‘outstanding’ Corinne Prinz, who is the main contact for the firm’s liquid fund business in Asia; and founding partner Claude Kremer.

Combining regulatory know-how and the ability to draw upon experts in complementary practices, Clifford Chance is a popular choice among sponsors and general partners across a broad swathe of their private fund work. As well as continuing to excel in structuring private equity and real estate funds, the team is increasingly active in the infrastructure and private debt spaces, with Emmanuel-Frédéric Henrion advising on fundraisings targeting those asset classes. Maren Stadler-Tjan has a strong reputation for advising on ESG and sustainability matters, and is also able to assist with continuation fund matters. Oliver Zwick has a ‘solutions-oriented mindset’ towards alternative fund structuring issues, as well as the trend towards the democratisation of private funds through the ELTIF structure. Christian Lennig is also recommended. Kristof Meynaerts departed the firm in February 2026.

Combining a ‘profound understanding of Luxembourg’s legal landscape with a pragmatic and client-focused approach’, Elvinger Hoss Prussen is well-placed to support fund managers across the structuring, operational and regulatory dimensions of both retail and alternative investment vehicles. On the retail front, the firm maintains a stromg position in the UCITS market, as well as being skilled at advising on matters concerning the retailisation of private markets. Yves Elvinger stands out for ‘his unparalleled knowledge and experience with ELTIF structures’, and is also well-versed in issues at the intersection between fintech and funds. The ‘very approachable’ Joachim Cour is also at the vanguard of developments in the ELTIF market, excelling across a range of alternative asset classes. Other key contacts include regulatory expert Sophie Dupin, who ‘manages CSSF relationships with finesse’; Gast Juncker, who is vastly experienced in the formation of UCITS; the ‘outstanding’ Olivia Moessner, who has an impressive track record on the fund and product side; and Thomas Göricke, who has expertise on ESG-related matters in the fund industry. Jérôme Wigny co-heads the team alongside Jacques Elvinger and Sophie Laguesse.

The ‘knowledgeable, approachable and business-oriented’ team at Linklaters is a popular choice among international asset managers as a result of its ability to structure a wide array private funds across asset classes. Team head Silke Bernard is known for her work for large international private equity sponsors, advising on new products and structures. Luxembourg and German-qualified practitioner Martin Mager is also adept at advising on hybrid funds, also offering expertise in other alternative asset classes and working with German sponsors on the establishment of Luxembourg-based funds. Claire Prospert is noted for her retail fund structuring work, as well as day-to-day assistance to asset managers, both in the regulated and unregulated investments funds spheres. Hermann Beythan continues to handle regulatory and structuring advice in his role as of counsel.

Drawing upon a 'strong knowledge of the legal and regulatory framework' in Luxembourg and the EU, Loyens & Loeff can deliver 'commercially minded and practical' solutions to global and European asset managers investing in a broad range of different alternative asset classes. Led by Marc Meyers, the firm works very well with international law firms as co-counsel and is skilled at handling work throughout the fund life-cycle, to include fundraising/structuring, fund finance, ongoing regulatory compliance advice, restructuring and advice on continuation strategies or liquidation.  Private equity represents a core area of expertise, with the firm—working in close coordination with New York-based Frank van Kuijk — maintaining strong engagement with leading US sponsors to advise on their EU-based fundraising deal structuring efforts. With experience gained through time spent at the firm's London office, Jérôme Mullmaier brings 'clarity and strategic insight to complex matters', including for UK-based asset managers utilising Luxembourg fund structures to facilitate private equity, infrastructure and private debt strategies. At an associate level, Maider Ruault provides 'high-quality support with precision and professionalism' to international sponsors on the regulatory and operational aspects of Luxembourg alternative funds.

Combining ‘excellent knowledge of the local market’ with the ability to work in with the firm's global network, Baker McKenzie provides ‘excellent legal advice’ to international sponsors on the structuring of private funds. The ‘creative, talented and intuitive’ Laurent Fessmann leverages ‘extraordinary technical knowledge’, and is able to advise on private equity, real estate, infrastructure and credit fund strategies. Catherine Martougin, who has ‘a deep knowledge of the European market and regulation’, co-heads the team alongside Fessmann and assists with both fund structuring and associated regulatory matters.

CMS Luxembourg provides a ‘pragmatic and solutions-oriented approach’ to managers throughout the life-cycle of a fund, from launch and downstream investments to exits. Under the leadership of the ‘exceptional’ Aurélien Hollard, the team is noted for advising on regulated and unregulated structures in the alternatives market, in particular as it pertains to real estate assets, and increasingly private debt. Hollard is also skilled at handling investment products, including ESG-driven structures and impact funds. As well as his structuring of closed-ended and evergreen funds with illiquid strategies, Benjamin Bada is also the main contact for institutional investors seeking to invest into Luxembourg private equity and infrastructure funds. The ‘very knowledgeable and pragmatic’ Julia Bruzzese is the main contact for UCITS and hybrid funds challenges.

Co-headed from Luxembourg by Patrick Goebel and Marc Seimetz Dechert Luxembourg provides a ‘responsive and solutions-focused service’ to managers and sponsors across a wide range of liquid and illiquid fund strategies, working with colleagues across the firm's international network. Alternative asset classes, including private credit, form a core part of the group's work. Appreciated by clients for his ‘sharp technical knowledge of Luxembourg structures’, Matthias Kerbusch handles a considerable portion of the practice's structuring work, including on private equity and hybrid funds, also acting on the LP side for institutional investors.

The ‘incredibly hardworking’ team at DLA Piper Luxembourg acts for both established fund managers and smaller clients, assisting them across the fund lifecycle. Catherine Pogorzelski is skilled at advising on fund formation mandates for global private equity sponsors, and also handles ongoing regulatory compliance and restructuring matters for Luxembourg funds. Caroline Pimpaud has a strong focus on private equity and venture capital and co-heads the team alongside Pogorzelski. Another key member of the group is the ‘extremely knowledgeable’ Marceau Visano, who is well versed in AIFMD regulations.

Often collaborating with the firm's corporate, tax and regulatory specialists, Stibbe's funds team provides ‘pragmatic and business-oriented’ advice to fund managers across the full spectrum of alternative asset classes. Co-heads Edouard d’Anterroches and Victorien Hémery both regularly work on complex cross-border mandates for fund managers involving private debt, infrastructure, real estate and private equity and venture capital asset classes.

Often working alongside other key international offices, including London, Ashurst deploys a ‘service-oriented approach’ for both established and new asset managers across a wide array of alternative asset classes, including infrastructure and venture capital. As well as handling general partnership-side work, including on ESG and sustainable strategies, Arnaud Julien handles limited partnership work for large institutional investors. Antonios Nezeritis departed the firm in November 2025.

Drawing upon ‘in-depth market knowledge’ and expertise in liaising with regulators, BSP is well-equipped to advise international funds on their structuring and regulatory compliance issues, particularly in relation to regulated and unregulated alternative investment fund structures. ‘Very attentive’ team head Evelyn Maher provides a ‘personalised’ service to private equity and venture capital managers on their fundraisings, and is also well-versed in the regulatory landscape, in particular the tokenised fund market. A ‘seasoned legal professional’ with a ‘client-centric work ethos’, Isabel Høg-Jensen has a core focus on advising on matters with a Nordic nexus, including with regard to ESG-focused funds.

The ‘very skilled’ team at GSK Stockmann provides ‘highly pragmatic’ advice to managers and institutional investors setting up or investing into complex fund structures in the alternatives space. Drawing upon ‘deep market knowledge’ across both regulated and unregulated structures, Corinna Schumacher is a popular choice among clients, particularly those from the DACH region, including on the establishment of ELTIFs and ESG-focused funds. Schumacher co-heads the team alongside Marcus Peter, a specialist in private equity and venture capital mandates.

Combining a ‘strong grasp of the regulatory landscape’ and an ability to ‘anticipate and navigate jurisdiction-specific legal nuances’, also working with lawyers from across the firm’s global network, Hogan Lovells (Luxembourg) LLP provides ‘pragmatic and solutions-oriented’ across a range of complex regulated and unregulated structures within the alternatives space. Team head Pierre Reuter brings ‘seasoned judgement’ to bear for both fund managers and institutional investors setting up or investing into funds focused on a range of strategies, including real estate, infrastructure and private debt.

The ‘top-notch’ team at KLEYR GRASSO provides ‘real world advice’ to stakeholders across a wide array of fund-related work, running the gamut from initial structuring, restructuring issues and ongoing regulatory compliance. Under the leadership of the ‘highly knowledgeable’ Mevlüde-Aysun Tokbag, the team is particularly skilled at handling matters with a German nexus and is effective at advising fund managers and investors on structures within both the retail and alternatives space.

Valued for its ability ‘to translate complex legal issues into actionable strategies’, Maples Group provides ‘practical and business-oriented advice’ to clients establishing or investing into a wide range of regulated and unregulated vehicles, primarily within the alternatives space. Combining ‘intellectual rigour, accessibility, and genuine investment in long-term client relationships’, team head Johan Terblanche has established a trusted adviser role to numerous clients, which are appreciative of his ‘ability to distil complex legal and regulatory issues into clear, actionable guidance’. Antonios Nezeritis joined from Ashurst in November 2025, augmenting the practice's expertise in both regulated and unregulated funds.

Led from Luxembourg by Géraldine Léonard and often working alongside colleagues in the Netherlands and Belgium on Benelux-wide matters, NautaDutilh has a reputation for its ability to structure myriad private and retail funds. The team also regularly works alongside complementary practice groups, including corporate, finance, tax and litigation, to help funds navigate transactional, contentious and ongoing operational matters.

Working in a collaborative cross-office and cross-practice fashion, as well as handling standalone regulatory and advisory work, Norton Rose Fulbright is a popular choice among fund managers within the alternatives space seeking local and international advice. Displaying a ‘hands on approach and deep regulatory expertise’, Claire Guilbert acts for general partners in relation to private equity and real estate strategies also guiding institutional investors investing into funds, also heading the firm's global funds offering. The ‘exceptional’ Geoffroy Hermanns co-heads the domestic practice with Guilbert and has niche expertise in Sharia-compliant fund structures.

Ogier has niche expertise advising on Luxembourg and Cayman parallel fund structures for US fund sponsors looking to access both European and US capital. The team is also well-versed at advising on other regulated and unregulated structures across the alternatives sector, with Anne-Gaëlle Delabye providing ‘very commercially-minded’ advice to fund sponsors, including on private equity, venture capital, ESG and private credit strategies. The ‘very knowledgeable’ Milan Hauber is the main contact for German clients on Luxembourg law matters-related to the fund sector and co-heads the team alongside Delabye and Hervé Leclercq, who has a niche focus on matters with a nexus to Asia.

Headed by Manfred Dietrich, who joined in September 2025 from Maples Group following Benoît Rose's departure in the same month, Pinsent Masons' Luxembourg-based team continues to work with the firm's international offering to advise a range of fund managers. Dietrich brings diverse expertise, primarily within the alternatives sector, and is able to handle fund establishment and structuring work, as well as advising institutional investors on their fund investment programmes.

Combining ‘deep sector expertise and seamless cross-border capabilities’, Simmons & Simmons in Luxembourg is noted for helping fund managers to structure private equity, infrastructure and ESG-focused vehicles. Augustin de Longeaux is well-versed at setting up regulated and unregulated funds with illiquid strategies and co-heads the team alongside Pieter Leguit, whose broad funds expertise, which encompasses expertise throughout the lifecycle, including fund restructuring, also includes work for institutional investors.

AKD has established a strong reputation among fund managers and referring law firms for its ability to combine ‘rigour with practicality’, ensuring that ‘proactive guidance’ is provided, particularly on matters connected with the alternative fund space. Team head Jevgeniy Nesch provides ‘thoughtful and accurate advice’, including to German and Swiss fund managers on private equity, real estate and private debt fund structuring matters.

Debevoise & Plimpton LLP's Luxembourg funds team regularly acts alongside lawyers in other key offices to facilitate fundraisings in the alternatives sector. Combining ‘technical mastery and a strategic perspective’, team head Christopher Dortschy is called upon by private equity, infrastructure and private credit fund managers seeking to raise capital, utilising Luxembourg as a strategic hub. The arrival in October 2025 of Veronica Aroutiunian from Loyens & Loeff augments the firm's capacity with respect to evergreen and retail funds.

Goodwin provides ‘pragmatic and commercially-focused’ advice to fund managers on fund formation and ongoing operational matters across a range of alternative asset class strategies. ‘Exceptional’ team head Alexandrine Armstrong-Cerfontaine splits her time between London and Luxembourg and is tasked with overseeing private equity and real estate fund formations and GP-led restructurings. The ‘outstanding’ Céline Moille provides key regulatory input, including in the context of digital assets.

‘Very proactive and technically skilled regarding Luxembourgish market standards and regulatory topics’, Luther S.A. is involved in a considerable amount of work for managers structuring alternative funds. Claudia Hoffmann, who joined in January 2025 from Eversheds Sutherland (Luxembourg) LLP, takes the lead on such matters, including as it relates to private debt and infrastructure strategies, also providing advice on hybrid ELTIF funds. The ‘very client-oriented’ co-head Daniel Krauspenhaar assists with the structuring of funds and issues arising out of their day-to-day operations.

Combining ‘deep technical expertise with practical and solutions-oriented advice’, White & Case S.à r.l. is instructed by fund managers requiring assistance with cross-border mandates that require the assistance of both the firm's international network and complimentary practices. Arnaud Cagi-Nicolau and Emmanuel Gutton co-head the team and stand out for their private equity and real estate fund structuring expertise. 

Brouxel & Rabia Luxembourg Law Firm combines an understanding of both market dynamics and regulatory strictures to advise managers, sponsors and institutional investors throughout the life-cycle of a fund. Leveraging knowledge gleaned through private practice and in-house at an asset management firm, Carmine Reho is ‘super knowledgeable’ as to the commercial and legal requirements of clients within the private and retail fund space. Name partner Samia Rabia co-heads the team alongside Reho and is able to advise across private equity and real estate investment structures.

Under the guidance of the ‘very experienced and competent’ Tobias Niehl, Charles Russell Speechlys continues to grow its market visibility among fund managers and institutional investors within the private capital sector. Niehl is skilled at advising on regulated and unregulated funds across a range of asset classes, including on matters with a German nexus. He also advises family offices, working with the firm's international private wealth specialists.

Led by tax partner Jean-Luc Fisch, Dentons focuses on structuring alternative asset-focused funds, often working alongside colleagues throughout the firm’s international network. As well as core areas of strength in the real estate and private equity field, the team, which was strengthened in June 2025 by the arrival of Simon Recher from Hogan Lovells (Luxembourg) LLP, is increasingly mandated on fund structuring matters involving distressed strategies, as well as handling an increased volume of due diligence work for pensions and insurance companies as investors.

Eversheds Sutherland (Luxembourg) LLP's funds offering is led by Michaela Walker from London, with Luxembourg-based Bernard Elslander advising on the structuring, launch and regulatory governance of Luxembourg investment vehicles, with a particular focus on alternative investment strategies. Former team head José Pascual left for an in-house role in May 2025.

Combining ‘legal knowledge with a pragmatic and client friendly approach’, Ganado SARL advises promoters, asset managers and banks on a variety of funds challenges. Team head Natalia Hernandez advise across the full array of issues within the fund space, including on fund establishment, regulatory issues and ongoing operational matters.

Combining ‘deep legal expertise with a pragmatic, solutions-oriented mindset’, Linari Law Firm is well-placed to advise stakeholders on fund structuring within the alternative asset class segment of the market, as well as on subsequent internal corporate, finance and regulatory issues. ‘Very knowledgeable’ team head Vincent Linari-Pierron is the principal contact.

Highlighted for its ‘in-depth knowledge of the Luxembourg fund and finance industry’, Stellan Partners is skilled at structuring alternative funds, which not only align to current regulatory requirements but also ‘anticipate market trends’. Team head Wim Ritz has a ‘very practical and goal oriented approach’ which manifests itself not only in fund formation work, but also internal restructuring strategies.

Combing corporate, tax and regulatory expertise, boutique firm TS&P is mandated by European and US asset managers within the alternatives space. ‘Outstanding’ team head Nicolas Ronzel handles work for venture capital, family office and impact fund managers, as well as regularly designing and implementing carried interest platforms for private equity fund managers.

VANDENBULKE has a focus on core fund structuring work in both the retail and alternatives sectors. Managing partner Denis Van Den Bulke is also able to assist on matters requiring a finance or corporate perspective. Marcel Bartnik departed the firm in December 2025.