US Fund Managers

At Leroy & Goldbach, we support US fund managers seeking to raise capital in Europe by leveraging Luxembourg’s AIFM framework to design compliant, efficient, and strategic structures.
Every engagement is partner-led, with personalised guidance to help you navigate European regulation and access EU investors with confidence.

Our Services

Pre-Marketing Support:
Test investor appetite without committing to a full fund launch through compliant, market-tested pre-marketing strategies tailored to your target jurisdictions.

Fund Structuring & Establishment:
Advising US fund managers across alternatives strategies (PE, RE, Private Debt, Venture Capital, Infrastructure) to set up the fund vehicle.

Portfolio Management Delegation:
‍We design delegation frameworks under which the AIFM delegates portfolio management to the US manager and keeps responsibility, oversight and reporting.

Advisory Model Solution:
‍We assist in implementing the investment advisory model, in which the US manager advises the AIFM of an EU AIF and the AIFM takes the investment decisions.

Distribution & Regulatory Support:
Benefit from our expertise in cross-border distribution, notifications, and investors negotiations ensuring smooth interactions with European regulators and investors.

Option 1 — Full AIFM Solution

Luxembourg-Domiciled Fund Launch – Set up a Luxembourg fund through a licensed AIFM (RAIF, SIF, SICAR or Partnership vehicle managed by authorised AIFM) ensuring full AIFMD compliance.

AIFMD Marketing Passport – Access up to 30 EEA countries with a single authorisation, streamlining fundraising and investor onboarding.

Regulatory Certainty – Meet the highest EU standards under CSSF supervision and instill trust with institutional investors.

Operational Efficiency – Combine AIFM oversight with tax-efficient structuring for sustainable growth and scalability.

Option 2 — Unregulated AIF with NPPR Regime

Flexible Setup – Establish a Luxembourg unregulated AIF, such as a special limited partnership (SCSp).

National Private Placement Regime (NPPR) – Market the fund to professional investors in selected EU jurisdictions under local NPPR rules.

Strategic Targeting – Ideal for smaller fund sizes or selective EU distribution, balancing speed, cost, and regulatory burden.

Scalable Path – Transition to a fully regulated AIFM model once fundraising grows or pan-European distribution is required.

Tailored Access Strategy – Choose the model that best aligns with your fund profile and distribution goals.

Cost Efficiency – Select between NPPR flexibility and full passporting depending on market scope.

Speed to Market – Leverage proven Luxembourg structures to accelerate launch timelines.

Regulatory Expertise – Rely on our deep knowledge of AIFMD, NPPR frameworks, and CSSF supervision.

Investor Confidence – Build trust with European LPs through transparent, compliant fund designs.

Partner with Leroy & Goldbach to unlock Europe’s capital markets with clarity, compliance, and confidence.

Ready to expand your US fund into Europe? Speak to a partner about AIFM solutions and cross-border strategies.