
PRIVATE EQUITY INSIGHT/OUT #35
This October issue features a cover story with Hind El Gaidi, Head of Luxembourg at ICG and new President of LPEA, sharing her vision for

This October issue features a cover story with Hind El Gaidi, Head of Luxembourg at ICG and new President of LPEA, sharing her vision for

The Luxembourg Private Equity & Venture Capital Association (LPEA) welcomes Sonja Becker as its new Head of Business Development. With extensive experience in business development at Hauck Aufhäuser Lampe and Zortify, Sonja will strengthen member engagement, sponsorship relations, and club initiatives such as the Private Equity for Women group.

The Luxembourg Private Equity & Venture Capital Association (LPEA) welcomes Sonja Becker as its new Head of Business Development. With extensive experience in business development at Hauck Aufhäuser Lampe and Zortify, Sonja will strengthen member engagement, sponsorship relations, and club initiatives such as the Private Equity for Women group.

Europe’s defence sector is undergoing a transformation, driven by rising geopolitical tensions and major EU initiatives. Luxembourg, with its fund structuring expertise and agile regulation, is positioning itself as a hub for private capital. From the European Defence Fund to NATO’s Innovation Fund, investors are finding new opportunities in dual-use and defence technologies—making defence a key pillar of Europe’s future industrial strategy.

This article explores how Artificial Intelligence (AI) can support operational excellence in ESG integration across private markets. It examines the role of AI in fund-level reporting, portfolio company management, and responsible digital transformation, highlighting how PE and VC firms can leverage AI to align sustainability goals with value creation.

Legacy replication models are slowing down private markets firms. In this article, Ian MacWilliams (SEI Luxembourg) explains why replication is costly, how it impacts investor reporting and competitiveness, and how firms can transition to a low-replication model that scales.
The European AIF market is one of the fastest growing in the financial sector. To help, the AKD Quarterly Update provides information on selected Luxembourg and Dutch legal, tax and regulatory matters within the AIF industry. Read more.

France has introduced tougher penalties for companies failing to declare or update their beneficial owners (BEs). Since June 15, 2025, failure to comply can lead to automatic deregistration from the Companies’ Register, fines, and even criminal liability for management. Businesses operating in France should ensure timely reporting and updates to avoid severe sanctions.

Alternative asset managers in Europe are facing growing operational demands driven by regulatory frameworks like AIFMD, SFDR, and AMLD. Learn how AIFMs and outsourcing partners are reshaping operational models through digitization and regulatory expertise.

With its robust regulatory framework and global distribution reach, Luxembourg remains a leading hub for cross-border fundraising. Monica Ramos da Fonseca explores the evolving landscape, the role of ManCos, retail access, and the growing importance of tech-enabled fund distribution.

Discover how PEPP 2.0 reforms could open new doors for alternative investment funds (AIFs) and fund managers across Europe. Explore regulatory barriers, fee structures, and strategic opportunities.

This article explores the legal weight of shareholders’ agreements through a French court ruling involving a dismissed company executive. Learn why strict compliance with contractual terms is crucial—and how breaches can lead to significant financial and reputational consequences.

Following its Board meeting on July 2 2025, the Luxembourg Private Equity & Venture Capital Association (LPEA) is pleased to announce Hind El Gaidi, Head of Luxembourg at ICG, as the new President of the LPEA. Hind El Gaidi has been a long-standing member of the LPEA and has served on both the Association’s Board and Executive Committee.

In this in-depth piece, Christophe Bonnat, Head of ESG at Marguerite, traces the ESG journey from a visionary niche to a regulatory standard, sharing valuable insights from Marguerite’s investment strategy. Discover what ESG maturity looks like today—and where it’s heading next.

Alternative Investment Funds are gaining ground in Luxembourg, but many fund managers are still unaware of the advantages a listing can bring. In this article, Ronny Alf of the Luxembourg Stock Exchange explores how fund listings—especially through the new EM3S segment—can unlock visibility, compliance, and liquidity benefits for AIFs and their investors.

LPEA AML/CFT Working Group: White Paper on the Management of Blocked Accounts
This paper was developed as the outcome of a roundtable organized with Transfer Agents (TAs) and outlines key considerations that firms may wish to take into account to ensure appropriate controls are in place for the management of blocked accounts.

The revised Look-Through & Control Guidelines is the result of years of collaborative work by the ABBL and LPEA’s depositary experts and members. The newly

Discover how Blockchain Law IV unlocks tokenization and operational efficiency for Luxembourg investment funds through DLT innovation.

The LPEA published its Annual Report 2024 at the Annual General Meeting (AGM) held on June 11th 2025.

This June issue features a cover story on Cinven, offering a deep dive into the firm’s long-term vision for Europe and Luxembourg. Additionally, this edition

Discover how Blockchain Law IV unlocks tokenization and operational efficiency for Luxembourg investment funds through DLT innovation.

Discover how fund administrators are leveraging AI to meet rising demands in data accuracy, real-time reporting, and operational efficiency. Insights from leaders managing over $13T in assets.

We are pleased to share the latest publication from our LPEA AML/CFT Working Group: White Paper on Deal AML Due Diligence. This paper outlines arrangements

The LPEA hosted a multi-perspective roundtable on the EU Pay Transparency Directive, gathering HR leaders and legal experts to discuss how transparency is reshaping pay practices, equity, and corporate culture. This is not just about compliance—it’s about leading real transformation.