From first close
to full substance.

The domicile decision is made once and lived with for the life of the fund. We take it against the strategy, the investor base and the timetable: a Luxembourg RAIF where speed to market matters and an authorised AIFM is available, a full AIFM where the manager intends to build its own permission, ADGM or DIFC where investors and assets sit in the Gulf. Each route carries a different regulator relationship, cost base and marketing reach, and we set out all three before the structure is committed rather than after the first close.

Typically includes

• Domicile and regime selection against strategy and investor base
• RAIF, AIFM, ADGM and DIFC structures established end to end
• Marketing reach, passporting and cost base modelled in advance

A Luxembourg structure is only as good as the substance behind it. We build the operating reality the regulator expects — resident directors who genuinely direct, board meetings held and minuted where the fund is managed, delegation agreements that reflect what is actually delegated — and we hold the correspondence with the CSSF so the manager is not learning regulatory tone on the job. When the regulator asks a question, it gets a complete answer the first time, which is the difference between a routine exchange and a supervisory file.

Typically includes

• Resident directors, board calendar and minuted decision-making
• Delegation and service agreements that match actual operations
• CSSF correspondence, filings and regulatory queries handled

Deal vehicles multiply quickly and are usually the first thing to fall behind. We incorporate SPVs to the timetable a transaction actually runs on, in whichever jurisdiction the asset requires, and then keep them alive properly: accounts, filings, registers, director services and the intra-group agreements that make the financing work. When the asset is sold, the vehicle is wound up cleanly rather than left dormant to accrue penalties. The manager gets one counterpart for the whole vehicle population instead of a different agent in each country.

Typically includes

• Rapid incorporation in the jurisdiction the asset requires
• Accounts, filings, registers and director services maintained
• Intra-group agreements and clean wind-up at exit

A management company is a regulated employer as well as a regulated entity, and the two obligations are frequently handled by different people who do not speak. We run the payroll, social security and employment compliance for ManCo staff in each jurisdiction, and align it with the substance the licence requires — the right number of qualified people, in the right place, on the right contracts. Where the manager uses secondments or dual-hatted staff across group entities, we document the arrangement so it survives both a labour inspection and a regulatory one.

Typically includes

• Payroll, social security and employment compliance per jurisdiction
• Staffing aligned to licence and substance requirements
• Secondment and dual-hatting arrangements documented

Onboarding is where a fund either builds a reputation for professionalism or loses a subscription. We design the process the administrator will actually run: what is collected for each investor type, how source of wealth is evidenced for a private client versus an institution, how politically exposed persons and sanctions screening are handled, and how the file is kept so it survives a depositary review years later. For managers raising across several jurisdictions, we reconcile the differing local expectations into one pack rather than six.

Typically includes

• Onboarding pack and evidence standards by investor type
• Sanctions, PEP and adverse-media screening procedures
• One reconciled process across the jurisdictions being raised in

A fund holding digital assets faces questions a conventional fund does not: whether the instrument is a financial instrument at all, who may act as custodian, how the assets are valued at a reporting date, and which regime the vehicle falls under. We position the fund under MiCA, VARA or a Gulf regime as the strategy dictates, document the custody arrangement so a depositary can accept it, and settle the valuation policy before the first NAV rather than at the first audit.

Typically includes

• Regime positioning under MiCA, VARA or a Gulf framework
• Custody arrangements a depositary will accept
• Valuation policy and NAV mechanics settled before launch