Arendt & Medernach

Blackfin Capital Partners will become the majority shareholder of Arendt Investor Services in a deal valued at 500 million dollars that is aimed at accelerating the Luxembourg firm’s growth across Europe.

The European Commission on Thursday unveiled sweeping changes to Europe’s Sustainable Finance Disclosure Regulation.

This week’s overview of people moves in the investment industry includes new leadership appointments at Debevoise & Plimpton, Arendt, LPEA, and Eversheds Sutherland.

A deal struck at the G7 summit in June has given American multinationals a way around rules billed as a milestone in the global fight against corporate tax avoidance.

This week’s overview of people transfers and appointments includes updates from Alter Domus, State Street, Ogier, Arendt, Citi Securities Services, Triodos Bank and Utmost Group.

A new tax regime, set to take effect in 2026, has been designed to update how carried interest is treated for managers involved in alternative investment funds and private markets. The proposed law reflects Luxembourg’s ambitions as a global private market player.

PwC Luxembourg is enhancing its real estate capabilities with the addition of new partner Pierre Wauthier, a veteran with over two decades of experience in Luxembourg’s real estate and deal markets. Wauthier joins the firm after three years at law firm Arendt & Medernach, which had joined in 2020 after nine years at PwC.

Luxembourg’s financial sector has felt targeted by the European Commission’s tax policy. Three subsequent anti-tax avoidance directives - known as Atad 1, 2 and 3 – each added more reporting requirements or forced adjustments to tax structures. In July the Commission referred Luxembourg to the Court of Justice of the European Union over how it extended an exemption from interest deductibility limits to EU securitisation entities in implementing the first Atad directive. But Luxembourg feels it has a strong case and seems happy to settle it in court.

Europe’s fund and asset management organisation Efama, active in the development of the updated European long-term investment fund, expressed  strong optimism this week about the updated vehicle’s interest to both professional and retail investors and its ability to fulfill its Capital Market Union aspirations.

Despite early questioning of its ability to provide sufficient liquidity to attract retail investors, Efama’s expert detailed how the legislation provides several tools that afford liquidity solutions.

Secondary funds are gaining traction in Luxembourg’s private equity market. Unlike primary funds, secondary funds invest in assets that have mostly completed their investment periods. Their rising popularity suggests “there is some tension in the market as players search for liquidity or focus,” said Gregory Beltrame, partner at Arendt & Medernach.