Private Assets - Private Debt Funds in Luxembourg: Legal, Regulatory and Structuring Essentials

Private debt has become a key component of the private assets industry, offering alternative financing solutions through non-bank lending structures. Luxembourg has established itself as a leading jurisdiction for private debt funds, supported by a flexible legal and regulatory framework adapted to a wide range of credit strategies.

This training provides an introduction to the Luxembourg private debt fund landscape, covering market context, structuring approaches and key regulatory considerations. Participants will gain practical insights into loan origination and acquisition strategies, the use of SPVs and securitisation vehicles, and applicable Luxembourg and European regulations, as well as the main service providers involved in the setup and operation of private debt funds.

• Introduction to private debt funds in Luxembourg

• Introduction and training objectives (giving an overview of the legal and structuring landscape in Luxembourg with a specific focus on private debt investments via fund structures)

• Evolution of private debt as an asset class in Europe

• Historical background – why it is so popular in the US and still a “new” asset class for Europe

• Luxembourg as a Hub for Private Debt Funds

• Why Luxembourg is a preferred jurisdiction for credit funds

• Overview of the Luxembourg “toolbox” for debt strategies (including excurse SVs)

• Use of SPVs

• Navigating legal landscape / How to structure a Luxembourg Private Debt Fund

• How a Fund may invest into private debt

• Loan Origination

• Loan Acquisition

• Loan Syndication

• Seasoning & Sell Strategy

• What are the legal rules a Luxembourg fund must respect

• Luxembourg fund laws

• AIFMD II (Loan origination and LMTs)

• ELTIF

• Loan origination passport / Banking monopoly

• 1993 Law and other jurisdictions

• Fronting

• Set-up and Service Provider

• Structuring highlights

• Overview of fund service providers

This program is designed for professionals involved in private markets and fund structuring, particularly those looking to deepen their understanding of private debt within the Luxembourg framework. It is relevant for fund managers, investment professionals, lawyers, and compliance or regulatory specialists working with alternative investment funds.

It also targets service providers such as administrators, depositary banks, auditors, and consultants who support the structuring and operation of private debt funds, as well as professionals seeking to expand into credit strategies or strengthen their expertise in Luxembourg fund structures and regulatory requirements.