FACTS AND FIGURES

Background and historic evolution

 

Building on the infrastructure, expertise and knowledge that Luxembourg has developed in the retail fund industry over the past 30 years, combined with a favorable environment for Private Equity, for many years now Luxembourg has been used for the structuring of international acquisitions via unregulated vehicles such as SOPARFIs.  Today Luxembourg is the domicile of over 25,000 registered holding companies, of which a considerable number is used to structure Private Equity acquisitions.

 

For the regulated vehicles: SICAR and SIF, the following are the most recent figures, as published by the Luxembourg supervisory authority of finance, the CSSF. (Commission de Surveillance du Secteur Financier):

 

SICAR

  • The number of authorized SICARs was at 273 at the end of year 2012, having €25.5 bn under management.
     
  • In 2011, out of the 276 SICARs, 184 were investing in Private Equity, 101 in Venture Capital, 9 in Mezzanine and 7 in Private to Public projects. (multiple nominations possible)
     
and 2 in Private to Public projects
From a sector perspective, 125 SICARs were Multi-Sector, 46 invested in Opportunistic Real Estate, 21 •
in Technology, 15 in Energy, 8 in Industry, 8 in the Service Industry, 6 in Sciences and another 18 in other
sectors
As regards the initiator origin, the largest share of SICARs was attributed to French initiators (18%), followed •
by Swiss, German and Luxembourgish initiators. The largest number of non-European SICARs was set up
by US-based Private Equity houses with 8%. In total initiators came from 32 different countries
Assets under management of these SICARs were approx. • € 25 bn.
  • From a sector perspective, 161 SICARs were Multi-Sector, 56 invested in Opportunistic Real Estate, 18 in Energy, 15 in Technology, 14 in the Services Industry, 11 in Sciences and another 19 in other sectors.

 

  • As regards the initiator origin, the largest share of SICARs was attributed to French initiators (20,46%), followed by Swiss, German and Luxembourgish initiators. The largest number of non-European SICARs was set upby US-based Private Equity houses with 8%. In total initiators came from 32 different countries.

 

  • Assets under management of these SICARs were approx. € 25 bn.

 

SIF

  • By the end of November 2012, there were 1,487 SIF registered with  € 272 bn assets under management.
     
  • Contrary to SICARs, SIFs may, in principle, be used for any type of investment in transferable values. As of December 2010, 79 SIFs invested in non-listed assets and high-risk assets, the terminology used for SICARs.
     
  • SIFs accomodate a considerable number of vehicles investing in clean technologies, infrastructures and tangible assets such as art, wine, jewellery and similar assets.

Source : CSSF Annual Report 2011

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