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Introducing the Structuring & Market Trends Paper
We are delighted to release the Structuring & Market Trends Pape developed by our Private Funds Committee under the leadership of its co-chairs Jérôme Mullmaier, Maria Rodriguez, and Adrian Aldinger.
This publication goes beyond technical analysis; it tells the story of why Luxembourg remains the jurisdiction of choice for private markets. In an industry built on confidence, flexibility, and innovation, Luxembourg consistently delivers on all three.
Our paper explores the key forces shaping the launch of AIF products in today’s competitive and complex environment. Through a deep dive into market data and investor dynamics, we highlight why structures such as the SCSp and RAIF continue to dominate institutional strategies, while the Part II UCI plays a vital role in meeting high-end retail demand.
Despite persistent headwinds –geopolitical uncertainty and still elevated interest rates among them– certain segments are thriving. Secondaries vehicles posted a record-breaking first half, raising over €80 billion, even as overall fundraising fell 17% year-on-year. Liquidity needs remain front and center, fueling innovation in evergreen funds and hybrid structures tailored to investor requirements.
We extend our thanks to Preqin for their support and to all members who contributed to the market sentiment survey featured in this paper.
One key takeaway: an emerging but steady improvement in the fundraising climate is on the horizon, and Luxembourg is exceptionally well positioned to benefit from this rebound.
Enjoy the read.
