RECOGNITION · LUXEMBOURG
Leaders League 2025
Fund Structuring
, Highly recommended
Private Equity
, Highly recommended
Wealth Management
, Recommended
IFLR 1000 2024
Investment Funds
, Highly regarded
Legal 500 2023
Fund Structuring
, Recommended
Legal Services
Empowering German asset managers with cross-border expertise.

At Leroy & Goldbach, we guide BaFin-approved German asset managers through the legal framework of launching and distributing AIFs via Luxembourg’s flexible structures, with a special focus on real estate (RE) strategies. Utilising the AIFMD passport and vehicles like RAIF or SIF, we enable efficient capital raising across the EU, while navigating German RE quotas and ensuring compliance with KAGB and CSSF requirements.
Our Core Legal Services for German Managers
Structuring Luxembourg RE AIFs for BaFin-Approved Managers: Customising vehicles such as a RAIF or SIF so that German institutional investors can hold them within their real estate quota under the AnlV, and securing swift notification for EU-wide distribution via the AIFMD passport.
Drafting Investor Documentation and Marketing Compliance: Preparing PPMs, subscription agreements, and incorporation of the investment vehicle in German or English and compliant with BaFin and Luxembourg regulations, ensuring seamless access to professional investors
Advising on Delegation Models with Luxembourg Third-Party AIFMs: Structuring delegation contracts for RE portfolio management, enabling German asset managers to retain investment control while leveraging Luxembourg AIFMs to optimise within KAGB RE thresholds and reduce regulatory burden.
Why Luxembourg for German Asset Managers? Luxembourg’s AAA-rated financial hub, bilingual German/English expertise, and AIFMD-compliant toolkit offer BaFin managers enhanced flexibility for RE alternatives (e.g., PE, infrastructure). Our legal insight ensures compliant structures that German institutional investors can hold within the 25% real estate quota under the AnlV, and unlocks EU fundraising opportunities.
Ready to optimise your RE fund from Germany to Europe? Contact us for a tailored legal consultation.