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By James Bermingham, General Counsel of the Aztec Group, a specialist private equity service provider that administers over 45 funds with an approximate value of USD26 billion.
The debate surrounding the Alternative Investment Fund Managers Directive has exposed to many not only the weakness of the proposals, but also the shortcomings of the SICAR and the SIF in a private equity context. If Luxembourg wants to become a credible domicile for private equity funds, then it has a unique opportunity to overcome the structural barriers that are holding back the development of a dynamic new industry.
I was enjoying lunch this week with my good friend, Monsieur Creosote, who manages one of the leading custody banks in Luxembourg. You must surely know him too? On the...
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