Administration of alternative investment funds - Regulatory and tax aspects

AIFs vehicles are becoming increasingly popular in the Luxembourg marketplace.

Although this asset class was already represented in Luxembourg with several vehicles in the form of UCI or non regulated vehicles, the recent trends have highlighted to local administrators and depositaries that alternative (ALT) investments are an asset class with totally different features and sources of risk requiring specific skills and specific operational processes.

In this context, PwC's Academy is pleased to offer this dedicated training workshop designed to provide Luxembourg professionals with a comprehensive overview of the latest industry trends, as well as a thorough analysis of sector-specific issues and best practices.

By the end of this training, the participants will be able to:

• have a basic understanding of legal and regulatory aspects, including the different types of structures/funds available in Luxembourg and their features;
• identify the different stakeholders in the fund's administration and management, including the AIFM's role and responsibilities;
• understand the basics of tax structuring and mechanisms for ALT funds.

1. Section I - Regulatory aspects

• Review of private equity structures available in Luxembourg: SICAR, SIF, UCITS, RAIFs, SCSp/SCS, securitisation vehicles, SOPARFI
• Responsibilities of the service providers (including AIFMD requirements)
• Regulatory documentation in an AIF

2. Section II - Tax issues

• Why taking into account tax issues and making tax structuring?
• Why is Luxembourg’s tax system interesting for ALT investments?
• General overview of Luxembourg tax system
• What is important when implementing tax-effective structures?
• Repatriation mechanisms for ALT investments
• Sample of sophisticated Luxembourg structure: SICAR/SIF/RAIFs

An attendance certificate will be sent to participants.

Nicolas Payet has worked 16 years with PwC, building knowledge in the alternative investments industry (“ALT”). He is an active member of our integrated alternative investments department and the leader of our private debt funds group.

Nicolas has also developed his skills in the alternative assets management practice of the PwC New York office during a 2 years tour in the U.S.A., serving one of the top American banks’ PE line of business. He is leading our internal and external training program for the ALT practice at PwC and he dedicates part of his time to train our clients and other actors of the industry.