Posts

Luxembourg Fund Centre – Seminar & Cocktail in New York (5 Oct. 2016)

Luxembourg Fund Centre – Seminar & Cocktail Reception in New York (5 October 2016)

Welcome speech by Luxembourg Minister of Finance H. E. Pierre Gramegna



LUXEMBOURG

Stable, reliable and ready to suport your growth

In a low interest rate and volatile market combined with political change in the UK and elsewhere, Asset Managers need long term solutions to serve investor needs.

The Luxembourg fund industry continues to innovate and evolve in an stable, predictable and attractive environment.

Come and hear how we can support your growth.





LPEA returned to New York for a presentation featuring the existing structures and competitive advantages of Luxembourg for US Private Equity and Venture Capital funds willing to create and manage funds in Europe.

On this occasion, LPEA was present together with ALFI, the Luxembourg Investment Funds Association and the Luxembourg for Finance agency in collaboration with Luxembourg’s General Consulate in New York. Luxembourg’s Minister of Finance H.E. Pierre Gramegna opened the session and welcomed participants in the cocktail that followed the event.

Despite the wider scope of the session, a considerable part related to Luxembourg Alternatives and, in particular, to Private Equity with the following key topics:

The Luxembourg tool box: legal and tax frameworks update and trends

AIFMD & Distribution in Europe

Third-party AIFMs

The new Reserved Alternative Investment Fund

Special Limited Partnership

Brexit

Interview with guest GP

Pictures of the event



Agenda


3.30 pm   Registration & refreshments

4.15 pm    Message from the Luxembourg Government
H.E. Pierre Gramegna, Minister of Finance, Luxembourg

4.35 pm   Setting the scene
Denise Voss, Chairman, Association of the Luxembourg Fund Industry (ALFI)

4.50 pm   Roving Interview session

The Brexit challenge / Luxembourg’s toolkit, fit for growth / The market opportunity hasn’t
gone away / Distribution still the key / Products today & for the future – RAIF, Debt Funds,
LPs / An innovative ecosystem

Moderator: Steven Libby, Partner, PwC, Luxembourg
Contributors:
Sandrine Leclercq, Director- Advisory & Consulting in Regulatory, Deloitte, Luxembourg
Florence Stainier, Partner, Arendt & Medernach, Luxembourg
Rafael Aguilera, Executive Director, EY, Luxembourg
Hermann Beythan, Partner, Linklaters LLP, Luxembourg
Giuliano Bidoli, Tax Partner, KPMG, Luxembourg
Cesar Estrada, Senior MD & Head of PE, Directs & Hybrids for N.America, State Street Corp., New York
Nicolas Fermaud, Attorney, Allen & Overy, New York
Martin Jufer, Member of the Group Management Board, GAM, Zurich
Gast Juncker, Partner, Elvinger Hoss Prussen, Luxembourg
André Pesch, Principal, Baker & McKenzie Luxembourg
Jeremy Soutter, Global Head of Product Development, Standard Life Investments, London
Martin Vogel, CEO, MDO Management Company S.A., Luxembourg
Serge Weyland, Head of Financial Institutions, Banque Internationale à Luxembourg S.A.
Nigel Williams, Chairman, Royalton Partners S.A., Luxembourg

5.50 pm   Interview with local player
Conducted by: Jérôme Wittamer, Chairman, Luxembourg Private Equity & Venture Capital Association


Sponsors



Harmonie Club

4E 60th St
New York


Luxembourg Private Equity mission to the US (May 2016)

Luxembourg Private Equity mission to the US

Summary of LPEA’s workshops in New York and Boston (May 2016)


Pierre Weimerskirch (Luxembourg Investment Solutions) and Anja Grenner (SGG) presenting in Boston.

LPEA held its 4th mission to the US on May 25th and 26th with the organisation of two breakfast sessions in New York and Boston. With three previous visits to New York, this was the first time a Luxembourg delegation presented in Boston for the local PE-VC community.

LPEA’s presentations in the US are now a regular initiative in the international promotion of Luxembourg as a PE hub. For many years Luxembourg has attracted the major PE firms and their interest continues to grow. Several factors contribute to this preference for Luxembourg as a location of choice to centralise operations:

  • Fully fledged toolbox to setup and manage PE-VC funds
  • One-stop shop with easy access to legal, tax and auditing experts
  • Quick time to market with further improvements to come soon (RAIF)
  • Pure cross-border marketplace with 6.000 multi-lingual professionals in the alternatives industry alone
  • Double taxation agreements with 90+ countries
  • Access to authorities with 1-to-1 meetings

The sessions held in the US, notably in New York and Boston, two of the major locations where global US PE firms are located, target different subjects but remain loyal to the main topics investors are looking for:

  • AIFMD & Distribution (license, regulation, third party solutions…)
  • Luxembourg Limited Partnership
  • Introduction of the Reserved Alternative Investment Fund (indirect regulation)
  • Structuring and Governance of PE funds
  • Impact of BEPS
  • Change of the Luxembourg Corporate Company Law
  • Private Debt

LPEA roadshows have attracted the attention of major PE houses such as Apollo Global Management, The Carlyle Group, Alliance Bernstein or Audax Group amongst a wide range of small to large investors as well as a wide community of legal and tax experts accessorizing cross-border operations.

The presence of Luxembourg authorities in such presentations is also revealing of the country’s commitment to promote the marketplace abroad. While the Hereditary Grand-Duke of Luxemburg Prince Guillaume attended the latest event, the Ministers of Economy and of Finance, as well as the Consul General of Luxembourg in New York, are regular speakers at the events and showcase Luxembourg’s openness to change the industry towards the needs of the investors.

For those less aware of Luxembourg’s latest developments, Paul Junck, Managing Director of LPEA, summarises the trends shaping the sector:

“Luxembourg is for long known as a reliable PE hub, with 9 of the 10 major PE firms doing business in the country already. Some of the bigger players manage funds worth $1B or more such as Ardian, Astorg, Castik, EQT, PAI or Goldman Sachs, among others. The trend is definitely to increase the AuM figures, especially when it comes to debt funds which number increased by 500% in the past 3 years or the growing number of smaller funds ($400-500m)”.

The market has not increased by chance. “The expansion of existing platforms and the new business, much of it from the US, results of the decline in the use of reverse solicitation and national private placement regimes to raise funds in Europe, a consequence of the implementation of the AIFMD.”

“Luxembourg, having a well-oiled machine in the retail funds industry – the 2nd biggest market worldwide after the US with over $3.8B of AuM today, applied the same expertise to develop vehicles and regimes aimed at facilitating the investment process while respecting all sort of regulation and international agreements towards a level playing field. The use of Luxembourg’s toolbox with the preference for dealing with less jurisdictions by the investors, turns Luxembourg into a sweet spot for alternatives investors in general and in particular for those dealing with PE and VC.”

LPEA plans to return to the US on October 5th to provide a new market update and share the latest trends.

To stay informed of upcoming events please contact lpea-office@lpea.lu.

From left to right: Jerome Wittamer (President of LPEA), H.E. Étienne Schneider
(Minister of the Economy of Grand Duchy of Luxembourg), H.R.H Prince Guillaume (Hereditary Grand-Duke of Luxemburg), H.R.H Princess Stéphanie (Hereditary GrandDuchess of Luxembourg), Paul Junck (Managing Director of LPEA).



New York session (25 May 2016)



Nigel Williams (Royalton Partners) presenting in New York.



New York session.



Further pictures of the NY event can be found here and of the Boston event here.

About LPEA

The Luxembourg Private Equity and Venture Capital Association (LPEA) is the representative body of private equity and venture capital professionals in Luxembourg.

With over 130 members, LPEA plays a leading role in the discussion and development of the investment framework and actively promotes the industry beyond the country’s borders.

Luxembourg disposes of a stable tax regime and is today at the forefront of international PE regulation providing a flexible, secure, predictable and multi-lingual jurisdiction to operate in.

LPEA provides a dynamic and interactive platform for its members to discuss and exchange information and organises working meetings and networking opportunities on a regular basis.

The national PE-VE association has since 2012 invested in the international promotion of Luxembourg’s thriving PE-VC sector by way of presentations in key markets such as London, Munich, Paris, Zurich and Stockholm, alongside its regular presence in international conferences such as SuperReturn International.

Luxembourg PE-VC featured in the US (25-26 May)

PRESS RELEASE

 

The Luxembourg Private Equity & Venture Capital Association (LPEA) is returning to the US for a new roadshow presenting the country’s latest features for investors.

 

Two sessions will be held:

New York,  May 25th, 8.30 – 10.30 at NY Athletic Club (4th edition)

Boston, May 26th, 8.30 – 10.30 at Union Club (1st edition)

 

The New York session will be distinguished by the presence of H.R.H Prince Guillaume, Hereditary Grand-Duke of Luxemburg and by the welcome address of H.E. Étienne Schneider, Minister of the Economy of G.D. Luxembourg.

 

Luxembourg is today a leading location for PE and VC with 90% of PE-VC funds domiciled in the EU. With a unique legal and fiscal framework it attracts a growing number of the major GPs, including 9 out the 10 world’s biggest PE fund managers.

 

Among its winning features we will find:

  • Diversity of fund vehicles
  • Flexible limited partnership
  • Marketing passport providing access to European investors via AIFM management solutions
  • Thought leadership in the proposal and implementation of new regulations and structures
  • PE-VC friendly environment & stable tax regime

 

The US remain one of the main countries of origin of new funds in Luxembourg with its investors looking for the flexibility of the new Limited Partnership and for the attribution of AIFM licenses.

 

Luxembourg, a founding member of the EU, has a AAA rating and is the world’s 2nd biggest financial centre after the US with AuM of 3,500 billion EUR.

 

 

Luxembourg PE-VC Breakfast Conference in New York (25 May 2016)

Luxembourg PE-VC Breakfast Conference in New York (25 May 2016)

Presentation of Luxembourg’s global hub for Private Equity

LPEA returned to New York for a presentation featuring the existing structures and competitive advantages of Luxembourg for US Private Equity and Venture Capital funds willing to create and manage funds in Europe.

Key features:

      • Overall PE landscape in Luxembourg
      • The Luxembourg tool box: legal and tax frameworks update and trends.
      • AIFMD & Distribution in Europe
      • Third-party AIFMs
      • The new Reserved Alternative Investment Fund
      • Special Limited Partnership
      • Impact of BEPS
      • Interview with guest GP

Reserve your seat by registering below.


Schedule


  • 8.00 AM

    Registration & welcome coffee

  • 8.30 AM

    Welcome and introduction

        • H.R.H Prince Guillaume, Hereditary Grand-Duke of Luxemburg
        • H.E. Étienne Schneider, Minister of the Economy of G.D. Luxembourg
  • 8.45 AM

    Introduction & Private Equity state of the market in Luxembourg

        • Jerome Wittamer, President of the Luxembourg Private Equity & Venture Capital Association
  • 9.00 AM

    The Luxembourg toolbox. Overview of Luxembourg’s legal and fiscal frameworks’ features and latest trends

    Moderated by Maarten Verjans, Partner PwC Luxembourg

    Key subject: AIFMD & DistributionThird-party AIFMsReserved Alternative Investment Funds (RAIF)Special Limited Partnership and Base Erosion Profit Shifting (BEPS) and Corporate Company Law in Luxembourg.

    Guest speakers:

      • Gilles Dusemon, Arendt & Medernach
      • Nigel Williams, Royalton Partners
      • Nicolas Fermaud, Allen & Overy
      • Frederic Selleslagh, KPMG Luxembourg
      • Dany Teillant, Deloitte Luxembourg
  • 9.50 AM

    Interview with New York based asset managers.

    Moderated by Pierre Weimerskirch, Luxembourg Investment Solutions

          • Stephen C. Hindmarch, Managing Director, GrayCliff Partners
          • Gavin Burke, SwanCap
  • 10:30 AM

    Closing


Roadshow Sponsors


 

Recommended reading



About LPEA


Luxembourg is well known for its solid financial centre which success is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated.

Over the years, specific regulatory frameworks have been created for alternative investment funds and venture capital investment funds which, combined with Luxembourg’s openness to the world, has attracted many private equity firms and specialist service providers from all over the world.

LPEA, as the trade association for Private Equity and Venture Capital Players in Luxembourg, is hosting this roadshow to present the country and the conditions which have already attracted some of the major international PE firms to set office in Luxembourg. We expect you to learn first-hand testimonials from some of our players as well as from the service providers who, together with the investors, build a strong and reliable ecosystem.


Venue

New York Athletic Club
180 Central Park South
New York, NY 10019


LPEA Roadshow in New York


November the 13th : LPEA Roadshow in New York

Meet us at the Metropolitan Club

SAVE THE DATE – LPEA returns to New York for a presentation featuring the existing structures and competitive advantages of Luxembourg for US Private Equity and Venture Capital funds willing to create and manage funds in Europe. Save the date to participate in this morning session that will take place in a private club in New York City.



Registration for free

2 + 6 = ?

Luxembourg is well known for its solid financial centre which success is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated.

Over the years, specific regulatory frameworks have been created for alternative investment funds and venture capital investment funds which, combined with Luxembourg’s openness to the world, has attracted many private equity firms and specialist service providers from all over the world.

LPEA, as the trade association for Private Equity and Venture Capital Players in Luxembourg, is hosting this roadshow to present the country and the conditions which have already attracted some of the major international PE firms to set office in Luxembourg. We expect you to learn first-hand testimonials from some of our players as well as from the service providers who, together with the investors, build a strong and reliable ecosystem.


Schedule


  • 10.30 AM

    Registration & welcome coffee

  • 11h AM

    Introduction by Jérôme Wittamer, President of LPEA

  • 11h10 AM

    Luxembourg, a Fund platform for European operations

  • 11h50 AM

    Sharing the experience: first person testimonials

  • 12h30 PM

    Closing


Meet us at the Metropolitan Club

1 East 60th Street
New York, NY 10022