Clifford Chance

Luxembourg regime for reserved alternative investment funds (RAIFs)

14 July 2016

The new legislation on reserved alternative investment funds ("RAIFs") was adopted by the Luxembourg Parliament on 14 July 2016 (the "RAIF Law").

The purpose of the RAIF Law is to introduce a new type of Luxembourg investment vehicle that is reserved to Luxembourg alternative investment funds managed by an authorised external alternative investment fund manager within the meaning of the so-called AIFM Directive.

The RAIF Law will be effective after its publication in the Luxembourg official gazette (Mémorial), which is expected to occur in the next few weeks.

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