Fund structures

Luxembourg offers a range of vehicles for alternative strategies. We help choose the one that fits the strategy, the investor base and the timeline.

At a glance

Vehicle CSSF product approval Typical lead time Typical use
SCSp / SCSNot requiredWeeksPrivate equity, real estate, private debt
SIFRequiredMonthsRegulated wrapper for well-informed investors
SICARRequiredMonthsPrivate equity and venture capital

The vehicles

SCSp and SCS Special limited partnership and limited partnership

Luxembourg's most flexible vehicles, with wide contractual freedom on economics and governance. No prior CSSF product approval is required, so a fund can be launched in weeks rather than months once its documentation is agreed. Widely used for private equity, real estate and private debt.

Qurtuba Management can act as manager of a Luxembourg partnership and, where needed, provide its general partner, so sponsors do not need to set up and run a separate general partner company.

SIF Specialised investment fund

A CSSF-supervised product for well-informed investors who want a regulated wrapper. Requires CSSF approval before launch.

SICAR Investment company in risk capital

A CSSF-supervised vehicle dedicated to private equity and venture capital investments. Requires CSSF approval before launch.

Tokenized interests

Fund interests can be issued and recorded in tokenized form, alongside or instead of conventional registers, as set out in each fund's documents.

How tokenized funds work

Funds managed by Qurtuba Management are reserved for professional and other eligible investors.

Planning a fund? We would be glad to talk it through.