Funds
AIFM lawyer in Luxembourg
The firm supports the legal matters relating to the AIFM Directive in Luxembourg: contractual relationships with the authorised alternative investment fund manager, framing of delegation, drafting and review of management agreements and documentary compliance, in the service of promoters and investors.
Legal content reviewed by Maître Cora Maglo, Avocate à la Cour, Liste I du Barreau de Luxembourg depuis 2009.
The AIFM Directive governs the management of alternative investment funds and the designation of an authorised manager. For promoters and investors, the legal issue lies in the quality of the management agreements, the framing of delegation and the consistency of the contractual documentation with the authorised manager.
Cerno Law Firm supports this legal side, in coordination with the authorised alternative investment fund manager, the depositary and the central administration. The firm is not an authorised AIFM or a fund manager regulated by the CSSF and provides no regulated management service: it acts as legal counsel.
The need
As a promoter or investor, you must secure the contractual relationships with the authorised manager and the documentation relating to the AIFM Directive.
Without clear management agreements and a precise framing of delegation, the responsibilities between the promoter, the manager and the service providers become a source of uncertainty.
The risk
An unbalanced management agreement, poorly framed delegation, an unclear allocation of responsibilities, contractual documentation inconsistent with the AIFM framework.
Imprecise documentation exposes you to disputes between promoters, manager and investors, and to friction during inspections.
How the firm helps
Review and drafting of the management agreements, contractual framing of delegation, structuring of the relationships with the authorised manager and documentary compliance, in coordination with the depositary and the central administration.
Cerno is a law firm admitted to the Luxembourg Bar: it supports the legal side and the documentation, without holding itself out as an authorised AIFM or a fund manager regulated by the CSSF. The digital tools serve only to simplify the collection of information, the qualification of the matter and the tracking of steps; they never replace the lawyer’s advice.
Practice areas
When to call on the firm
- Negotiate and secure a management agreement with an authorised manager.
- Frame the delegation of functions contractually.
- Bring the contractual documentation into line with the AIFM framework.
- Advise promoters and investors on their relationships with the manager.
Method
Our engagement process
- 1
Information intake
You describe your need via a structured form or an initial call. Our digital tools serve only to organise this information and save time.
- 2
Lawyer qualification
Maître Maglo reviews your situation, identifies the legal issues and confirms the feasibility and exact scope of the engagement.
- 3
Transparent quote
You receive a clear fee proposal, a fixed fee or a range, before any engagement. Nothing is billed without your approval.
- 4
Legal work
The firm drafts, negotiates or litigates as required. Every deliverable is designed and approved by a lawyer admitted to the Luxembourg Bar.
- 5
Tracking and delivery
You follow your matter transparently and receive your finalised documents with the explanations you need.
Documents required
- • Existing documentation of the fund and the vehicle
- • Identity of the authorised manager and the service providers
- • Management agreements and delegation arrangements to be reviewed
- • Objectives of the promoters or the investors
Deliverables
- • Drafted or reviewed management agreements
- • Contractual framing of delegation
- • Contractual documentation brought into compliance with the AIFM framework
Indicative timing
The first review or drafting is delivered within a few business days; finalisation depends on exchanges with the authorised manager and the service providers concerned.
Stated fees
Consultation from 175 € excl. VAT; review and drafting of the AIFM documentation on a quote depending on the complexity of the matter. Everything is quoted before any engagement.
FAQ
Frequently asked questions
Is Cerno an authorised AIFM?
No. Regulated management and AIFM authorisation are the responsibility of an alternative investment fund manager authorised by the CSSF. Cerno is a law firm that supports the legal side and the documentation, in coordination with that manager.
What does the support relating to the AIFM Directive cover?
It covers the management agreements, the framing of delegation, the contractual relationships with the authorised manager and documentary compliance, for promoters as well as investors.
Who carries out the regulated management of the fund?
Regulated management is the responsibility of an AIFM authorised by the CSSF. The firm operates on the legal and contractual side, without providing any regulated management service.
Does Cerno coordinate the other service providers?
Yes. The firm works in coordination with the authorised manager, the depositary and the central administration to ensure the consistency of the contractual documentation.
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Choosing Cerno means choosing over 17 years of experience
- 2013
- independent firm
- 2009
- at the Bar since 2009
- 7
- working languages
- 100+
- companies & SOPARFI structured
- 200+
- visas & residence permits obtained
- 170
- client nationalities served
- 300+
- due diligence reviews conducted
Around twenty M&A transactions supported · one of the best visa approval rates in Luxembourg.
Since 2009, we devote our expertise to your satisfaction: more than 85% of our clients renew their trust in us.
Our work
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Entrust my matter to the firmExpertise & authority
Ongoing review and analysis of Luxembourg and European case law
Avocate à la Cour, List I of the Luxembourg Bar since 2009
Trained at the London School of Economics, formerly at Clifford Chance and Bonn Steichen & Partners
Member of international networks: EILN, AEA, Cross Border Advisory Solutions
Every matter handled and approved by a lawyer admitted to the Bar
Support in 7 languages, clients of 170 nationalities
Testimonials
What our clients say
Had a consultation with Me Cora Maglo about my Luxembourg Blue Card application. She explained everything clearly: the process, timeline and documents I need, and helped me with my wife’s family reunification too. Honest and practical advice. I felt confident after talking to her.Farshid Pourlatifi
J’ai beaucoup apprécié le service de Maître Maglo : son sérieux, sa sympathie, son professionnalisme et sa disponibilité. Toujours répondu rapidement et clairement, avec des conseils pragmatiques, sans pousser à des procédures longues et coûteuses lorsqu’elles ne sont pas justifiées.Nathan Wirtzfeld
Super assistance and great support! Highly recommend. All my questions were answered, Cora and her team kept me updated all the time. I will definitely reach out to them next time for my residency.Tatiana
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