The Luxembourg Specialised Investment Fund (SIF) is a regulated, CSSF-supervised multi-asset fund reserved for well-informed investors. Governed by the amended law of 13 February 2007, it offers wide investment flexibility across almost any asset class, light-touch risk-spreading rules and a trusted, EU-recognised regulatory wrapper. The SIF suits managers who want a supervised product with institutional credibility — for private equity, hedge, real estate, debt and multi-strategy funds — while retaining flexibility on legal form. We serve fund sponsors, asset managers, family offices and institutional investors across our US, DACH, French and UK desks.
| Regulator | CSSF — authorisation required before launch and ongoing supervision. |
|---|---|
| Time to market | Typically several weeks to a few months, subject to CSSF authorisation. |
| Eligible investors | Well-informed investors only: institutional investors, professional investors, and other investors meeting the well-informed test. |
| Minimum capital | Minimum net assets of €1,250,000, to be reached within 12 months of authorisation. |
| AIFM | Required where the SIF qualifies as an AIF and exceeds the AIFMD de minimis thresholds; the AIFM may be established in Luxembourg, the EU or a third country. |
| Depositary & administration | Luxembourg depositary mandatory; central administration and an approved statutory auditor also required. |
| EU distribution | AIFMD marketing passport to professional investors with an authorised EU AIFM; other well-informed marketing follows national rules. |
| Tax | Exempt from corporate income tax, municipal business tax and net wealth tax; annual subscription tax of 0.01% on net assets (exemptions available); no withholding tax on distributions. |
We lead the full formation and lifecycle of your SIF from a single senior team: selecting the optimal legal form and compartment structure, drafting the issuing document, articles or management regulations and subscription materials, and preparing the CSSF authorisation file. We coordinate the appointment and negotiation of your AIFM, depositary, central administration and auditor, manage the regulatory approval process and AIFMD notifications, and handle each closing. We then support you through NAV cycles, new compartments, restructurings and eventual wind-down. Fixed fees are agreed up front, so you always know the cost.
A Specialised Investment Fund is a regulated, CSSF-supervised Luxembourg investment fund reserved for well-informed investors, offering broad investment flexibility across almost any asset class under the amended law of 13 February 2007.
Yes, where it qualifies as an alternative investment fund and exceeds the AIFMD de minimis thresholds. The AIFM may be based in Luxembourg, elsewhere in the EU, or in a third country.
The SIF must reach minimum net assets of €1,250,000, generally within 12 months of its authorisation by the CSSF.
Only well-informed investors: institutional investors, professional investors, and other investors who confirm their status in writing and meet a minimum investment or expertise-assessment test.
A SIF is exempt from Luxembourg corporate income tax, municipal business tax and net wealth tax. It pays an annual subscription tax of 0.01% on its net assets (with exemptions available) and no withholding tax applies to distributions.
Yes. With an authorised EU AIFM, a SIF can be marketed to professional investors across the EU under the AIFMD passport; marketing to other well-informed investors follows national rules.
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