Investment Funds Solutions

At Leroy & Goldbach, we advise a broad range of investment fund clients — from leading global asset managers and financial institutions to independent boutiques and first-time fund sponsors.
We offer tailored guidance on structuring and establishing alternative investment funds (AIFs), aligning each vehicle’s design with the client’s strategy, governance framework, and operational needs — from initial setup through the fund’s life cycle.
We build long-term partnerships with our clients by delivering strategic, pragmatic, and market-driven advice that evolves with their business.

Explore our expertise across Luxembourg's flexible fund toolbox, where we help you select the optimal structure for speed-to-market, tax efficiency, and investor appeal:

Unregulated Vehicles (Ideal for agile, private placements with minimal oversight):

Special Limited Partnership (SCSp): A flexible partnership without legal personality, suitable for joint-venture investments or club deals.

Common Limited Partnership (SCS): A partnership with legal personality and the same contractual flexibility.

Partnership Limited by Shares (SCA): a company with share capital whose general partner keeps control.

Indirectly Regulated Vehicles (supervised through the AIFM, for faster launches):

Reserved Alternative Investment Fund (RAIF): Quick-setup AIF managed by an authorised AIFM, benefiting from EU marketing passports for seamless distribution to EU professional investors, with depositary oversight but no CSSF pre-approval — perfect for experienced managers.

Regulated Vehicles (authorised and supervised by the CSSF — from funds for well-informed investors to funds open to retail investors):

Specialised Investment Fund (SIF)

A fund for well-informed investors, authorised by the CSSF, with flexible strategies across asset classes; with an authorised AIFM it is marketed to professional investors across the EU with the AIFMD passport.

Investment Company in Risk Capital (SICAR)

Specialised for venture capital, with exemption from corporate income tax on income and gains from risk-capital securities and no subscription tax, plus CSSF oversight for credibility — supporting high-growth strategies with investor confidence.

UCI Part II funds

regulated AIFs that may be offered to retail investors in Luxembourg; marketing to professional investors across the EU via the AIFMD passport when managed by an authorised AIFM, while retail marketing in other Member States depends on host-State rules — with strong depositary and valuation safeguards.

European Long-Term Investment Funds (ELTIFs)

EU-harmonised vehicles for liquid or illiquid, long-term assets like infrastructure and real estate, compliant with ELTIF 2.0 regulations (updated 2024), offering retail distribution passports.

Ready to structure and launch your investment fund? Speak to a partner about AIF vehicles and strategies.