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Investment Funds


Whether you are launching, operating, lending to or investing in a fund or an alternative indirect investment vehicle, you need to overcome legal hurdles which may be from a domestic and/or cross-border perspective. Our pan-European funds group advises across your key asset classes including private equity, real estate, infrastructure, hedge, venture capital, debt and exchange traded funds.

Luxembourg being the second largest fund centre in the world and the first in Europe, CMS Luxembourg naturally established a department dedicated to the funds industry. Our team of experts is able to advise you on all types of funds, regulated or unregulated, and other indirect structures. Our experience and varied client base enables us to advise on the commercial as well as the legal and tax aspects. 

We are highly skilled at, and have a reputation for, efficiency and providing commercial and pragmatic advice to reach successful deal conclusions quickly and on sensible budgets. We recognise the fast-moving regulatory climate and aim to simplify the legal minefield with our expert funds guides. These cover developments such as those affecting passporting and private placement regimes and allow you to keep pace with key market changes. 

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Feb 2018
CMS Guide to Private Place­ment of Funds
Ac­cess­ing European In­vestors post AIFMD
Feb 2018
CMS Guide to Pass­port­ing
Rules on Mar­ket­ing Al­tern­at­ive In­vest­ment Funds in...


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23 Jan 20
Dis­cus­sion on block­chain and token­iz­a­tion
06 Feb 20
CSSF calls vir­tu­al as­sets ser­vice pro­viders act­ive in Lux­em­bourg to...
Fol­low­ing the ad­op­tion of the mod­i­fied In­ter­pret­at­ive Note to the Fin­an­cial Ac­tion Task Force (“FATF”) Re­com­mend­a­tion 15 on New Tech­no­lo­gies, the Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the...
13 Jan 20
CMS strengthens its pres­ence in Lux­em­bourg
New fully op­er­a­tion­al cor­por­ate and tax teams join...
09 Dec 19
Reach­ing year-end, here are the latest AML com­mu­nic­a­tions from the...
The Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the “CSSF”) has com­mu­nic­ated sev­er­al press re­leases re­lated to the fight against money laun­der­ing and ter­ror­ist fin­an­cing these last few days....
10 Oct 18
Do hu­mans dream of elec­tron­ic ad­visors?
13 Nov 19
CMS Guide to Pass­port­ing: Rules on Mar­ket­ing Al­tern­at­ive In­vest­ment...
Septem­ber 2016 News­let­ter
13 Nov 19
CMS Guide to Pass­port­ing : Rules on Mar­ket­ing Un­der­tak­ings for Col­lect­ive...
A Guide to Pass­port­ing - Rules on Mar­ket­ing Al­tern­at­ive...
07 Nov 19
CSSF ex­tends the dead­line for no­ti­fic­a­tions in the con­text of Brexit
Fol­low­ing the ex­ten­sion of the delay with­in which the United King­dom (“UK”) is to leave the European Uni­on (“EU”), the Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the “CSSF”) has pub­lished...
16 Oct 19
New CSSF com­mu­nic­a­tion in the con­text of Brexit for UK AIFMs
The CSSF has is­sued on 11 Oc­to­ber 2019 a new press re­lease (Press Re­lease 19/48) in the con­text of Brexit and re­lated man­dat­ory com­mu­nic­a­tion by UK al­tern­at­ive in­vest­ment fund man­agers (AIFMs) of Lux­em­bourg...
11 Oct 19
Lux­em­bour­g's na­tion­al risk as­sess­ment of money laun­der­ing and ter­ror­ist...
The Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the “CSSF”) has pub­lished on 9 Oc­to­ber 2019 a press re­lease in which it in­forms pro­fes­sion­als sub­ject to its su­per­vi­sion that the na­tion­al risk...