Waystone

Registrations of new Reserved Alternative Investment Funds (Raifs) in Luxembourg slowed in April, continuing a decline from last December’s peak, reflecting higher interest rates and a market shift towards sub-funds under existing structures.

With 29 new funds registered, last month was the best September in three years for new Raifs issuance, data analysis by Investment Officer Luxembourg shows. Raifs are Reserved Alternative Investment Funds. In Luxembourg these vehicles in recent years have gained significant international traction among those active in private assets such as credit, real estate and private equity.

Given the significant resources and costs that the asset management has incurred to date, many investment firms are hopeful that the European Commission, in its upcoming review, will allow enough flexibility in application of the rules so that firms are not required to incur further costs, significantly change their processes, or potentially SFDR classifications, says Rebecca Palmer, ESG director at Dublin-headquartered management company Waystone. 

This Luxembourg edition of IO Talks hears about the ambitions of Waystone Management Company’s newly appointed Luxembourg CEO Denis Harty. 

Dublin-based international management company Waystone, a major actor also in the Luxembourg market, has added fund administration to its range of offerings now that its acquisition of Centaur Financial Services, also Dublin-based, has obtained regulatory approval and been completed.

In the Luxembourg market for Reserved Alternative Investment Funds, Dublin-headquartered investment services firm Waystone has emerged as the biggest issuer by a landslide, analysis of 2022 data by Investment Officer Luxembourg shows. The list of most active Raif issuers also includes Carne Global - the number one issuer in previous years, One Funds and Hauck Aufhäuser Lampe.

The analysis showed that Luxembourg was home to a total of about 2125 Raifs at the end of last year after adding some 472 new funds during 2022.

Luxembourg last week was buzzing with speculation and market talk. A major deal was said to be in the making that could change the international leadership tables among Alternative Investment Fund Managers, AIFMs. “Is your firm going to be bought?” 

Dublin-based third-party management company Waystone on Tuesday said that it has closed its acquisition of Irish fund management services firm KB Associates in a transaction that makes it Ireland’s largest management company for Ucits funds.

As a result of the transaction, Waystone said it will welcome on board 90 new team members and will now support European management company assets exceeding 300 billion dollars. 

Growth in funds registered as Reserved Alternative Investment Funds (RAIFs) in Luxembourg has slowed in February and March, according to a data analysis by Investment Officer Luxembourg.