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  • Private Equity Connect
    November 2014

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By improving the existing Luxembourg limited partnership regime and adding the Luxembourg special limited partnership to its legal arsenal of investment vehicles dedicated to the alternative investment industry (including the Private Equity industry), Luxembourg offers a new solution as alternative investment fund jurisdiction to Private Equity and Venture Capital operations and to alternative investment funds managers and promoters in general.
This publication summarises the main legal, accounting, valuation and tax rules pertaining to both regulated and unregulated Luxembourg limited partnerships and Luxembourg special limited partnerships.

The European Securities and Markets Authority (ESMA) has recently finalised guidelines related to reporting requirements under the Alternative Investment Fund Managers Directive (AIFMD). Those guidelines give a clear indication on the nature of the information and the level of details that must be included in the reports to regulators. Implementing an efficient reporting process to collect, analyse, compute and report all the information required, has therefore become a strategic challenge.

Tackling the reporting challenge - How to meet the new AIFMD reporting obligations

The Alternative Investment Fund Managers Directive (AIFMD - 2011/61/EU) entered into force on 22 July 2013. Many market players have postponed meeting AIFMD reporting requirements since compliance with such rules is not mandatory in order to register as an AIFM. However, the related operational challenges should not be underestimated. Will you be ready for the deadline of 31 January 2014?

Risk Management for Private Equity

The latest economic crisis has highlighted the need to improve the Risk Management processes and structures. In that context, there are no “one size fits all” approach or set of general risk factors that can be used. Therefore, Risk Managers and Board of Directors of Management Companies will have to thoroughly understand their exposures and monitor them adequately.

Bringing investment funds to a close - Dealing with liquidation issues efficiently and cost-effectively

The current turmoil in financial markets, associated with the increasing regulation in the Investment Funds industry have led most of the well known market players in the Asset Management industry to reconsider their range of products and even to close down poor performers.

Private Equity - What we bring to you

Our goal is to help you build an efficient and sustainable advantage by providing you with comprehensive services and products.
Being the number one audit firm and market leader servicing the Private Industry sector in Luxembourg, we have strong competence and experience in advising the PE industry.
We are determined to support you through a broad range of products, to make your business successful and more resilient.
We have highly-developed and broad skills, deep know-how and sound market knowledge to support you in making the right choices.
Through our deep industry knowledge, we can help to create the value you are looking for.

Private Equity in Luxembourg

The main purpose of the third edition of the Private Equity ("PE") Brochure is to give you a general overview of the Private Equity Industry in Luxembourg. It presents the benefits of Luxembourg as a "prime location" for doing business and the value we can help you create in all your PE deals.

Valuation Services for Private Equity Structures

Market turbulence, credit crisis, and pressure from governing bodies for additional regulation in the alternative investment sector are some important elements which we believe will put an increasing emphasis on the requirement to have a strong and reliable fair valuation process for private equity assets. Going forward, General Partners can expect investors, auditors and regulators to scrutinise their valuation estimation more closely.

Current Outlook on AIFMD for Luxembourg Private Equity Structures

The Alternative Investment Fund Managers Directive ('the AIFMD' or 'the Directive') entered into force on 21 July 2011. Its aim is to provide a harmonised and comprehensive regulatory and supervisory framework within the EU as well as a single EU market for managers of Alternative Investment Funds (AIFs). The ultimate deadline for EU Member States to transpose the Directive into their national law is just 18 months away (22 July 2013).

Private Equity in Luxemburg

PwC Luxemburg ist mit über 2.100 Mitarbeitern der führende Anbieter professioneller Beratungs- und Prüfungsdienstleistungen in Luxemburg und ist in Fragen des Investment Managements und Private Equity ein Kompetenzzentrum innerhalb des europäischen PwC Netzwerks. Unsere Private Equity - Gruppe in Luxemburg verfügt über mehr als 120 Experten in den Bereichen Wirtschaftsprüfung, Steuerberatung, Corporate Finance, Compliance und Advisory. Deren Schwerpunkt liegt in der Erbringung von Serviceleistungen für die größten international operierenden wie auch für neue Unternehmen in der Branche. Dies ist einzigartig in Luxemburg.

Wir können (fast) alles - und auch deutsch

Diese Broschüre wurde in deutscher Sprache verfasst, weil wir damit unsere Geschäftspartner ganz gezielt auf unsere deutschsprachige Beratungskompetenz hinweisen möchten. Wir denken, es macht Sinn, Ihnen zu zeigen, was wir alles können, wer was macht und wer für Sie als Ansprechpartner zur Verfügung steht. Und richtig, wir freuen uns, dass wir Ihnen in diesem Segment so viele Mitarbeiter mit unterschiedlichen Fachkompetenzen vorstellen können.

The place for listing

PwC Luxembourg in collaboration with the Luxembourg Stock Exchange released the “The place for listing Alternative Investment Funds”. This brochure examines three major components of alternative investments, i.e. hedge funds, private equity and venture capital funds and real estate funds, and their benefits to be listed in Luxembourg.

Solutions for private equity firms and service providers

Private Equity is operating in an tough environment caused by

  • fierce competition to raise funds;
  • difficult investment;
  • decrease of fees.

Given the tax pressure and the avalanche of new regulations, the choice of the domicile and the local operational set-up become paramount to ensure the sustainability of your business.

Why Sustainability is essential for Private Equity Houses?

Sustainability has become an essential part of investment strategies as it might impact significantly the performance of portfolio,and, therefore, private equity owners. Private Equity Houses are at the forefront of sustainable issues since Private Equity owners are increasingly concerned with climate change.

Global Compliance Services - A wealth of services to clear your way

More and more, businesses are operating in a regulatory environment with increasingly complex and risky areas. Lack of compliance with regulatory (e.g. accounting, tax, legal, social, requirements, ...) can expose you to significant risks; not only with the Luxembourg and foreign authorities, but also with current and potential stakeholders (e.g. shareholders, banks, ...).

Business Restructuring Services

Harsh economic climate embedding rapid market changes, new business models, and disruptive technologies may plunge companies into serious financial distress. Disregarding deliberately these elements could impact negatively the corporate survival, leading to a host of problems including underperformance, declining earnings, funding issues and cash flow blockage to name a few.

Liquidation Services for Operational or Holding/Financing Companies

The turmoil in financial markets associated with the ongoing search of cost efficiency have led most of the international and local groups active in all sectors (industry, commerce, etc.) or the major players of the Investment market (Private Equity or Real Estate) to reconsider their structures.
Therefore, we can assist rationalising structures and closing down all «non-efficient» or unnecessary vehicles.

New statutory and compliance requirements in Luxembourg: Are you ready for the change?

This flyer contains information about the Implementation of the Standard Chart of Accounts and the draft law 5976.