Ober Avocats & Partners

Limited changes: Luxembourg’s introduction of the AIFMD law consolidates its leading position in the private equity sector

On 12 July 2013, the Luxembourg parliament transposed Europe’s Alternative Investment Fund Managers Directive into the national legislation (AIFMD law). Among other things, the AIFMD Law reshapes the landscape of Luxembourg limited partnerships in order to provide additional solutions for the structuring of investment vehicles.

Inspired by the Anglo-Saxon model, the AIFMD law changes some of the rules applicable to partnerships limited by shares (sociétés en commandite par actions) and brings an in-depth reform of the legal framework governing simple limited partnerships (sociétés en commandite simple or SCS).

Furthermore, the AIFMD law creates a new form of limited partnership without legal personality: the special limited partnership (société en commandite special or SCSp)…

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