Launching a Private Credit Fund in Luxembourg?
The Operational Work Starts Now.
Trustmoore administers private credit funds and operates the AIFM/ManCo function, from setup through to investor reporting.
Launching a Private Credit Fund in Luxembourg?
KYC onboarding, depositary account opening, loan administration systems, origination processes that meet AIFMD II requirements before the first deal closes, and LP reporting that goes loan by loan. With 45% of Luxembourg private debt funds holding less than EUR 100 million in AuM, most managers carry this workload without an internal operations team. Trustmoore administers private credit funds in Luxembourg and operates the AIFM/ManCo function through Funds Avenue, so one team manages the operational layer from day one.
LAUNCH READINESS
1. A Vehicle That Matches Your Operating Model
64% of private debt funds in Luxembourg use a RAIF. It is fast, typically 4 to 6 weeks to establish, but it must appoint an authorised AIFM, and full operational readiness takes 3 to 4 months. Your vehicle choice sets your reporting obligations and investor eligibility rules from the outset.
2. Loan Origination Readiness Under AIFMD II
Funds that originate loans must retain at least 5% of the notional value of those loans, comply with leverage caps, hold liquidity management tools and meet expanded reporting obligations. These processes need to be running before the fund deploys capital, not after.
3. One Operational Counterparty Instead of Five
A fund administrator, an AIFM, a depositary, an auditor and a compliance consultant each bring their own systems and reporting cycles. When fund administration and AIFM/ManCo services sit with a single provider, the handoffs disappear, along with the coordination hours nobody budgeted for.
4. Reporting Built for Credit Investors
Private credit LPs expect loan-level performance data, interest coverage figures, covenant status and recovery metrics. Open-ended funds, now 26% of the Luxembourg private debt market, add ongoing NAV and liquidity reporting on top. Building this at launch beats retrofitting it after the first deadline.
Want the full picture? Read our hands-on guide to setting up a private credit fund in Luxembourg.
Get a clear view of what your private credit setup involves operationally, from vehicle and AIFM appointment to loan administration and LP reporting. Fill out the form and a member of our Luxembourg fund services team will respond within one business day.
Looking for the detail behind the launch process? Read our guide covering RAIF setup, AIFMD II loan origination rules and LP reporting for private credit funds.
