We are seeking a Head of Office with a strong background in Private Equity to set up and lead a new AIFM in Luxembourg, on behalf of a highly successful and sizable PE Fund Manager.
Ideally the candidate has gained some former experience of the front office business, such as exposure to Portfolio / Investment Management, Valuations, or M&A, but we will be open to considering outstanding Private Equity candidates from across the board when they bring a high level of commercial acumen, academic background, and an engaging personality.
The successful candidate will be involved right from the early and mid-stages of the deal pipeline, monitoring progress as the deals are developed in other offices, and building relationships with the deal teams overseas. Once the deals arrive at the point where they need setting up and structuring through the Luxembourg AIFM, this person will oversee all the set-up and operations, along with a team of around 9-10 staff that we will be recruiting for them.
In addition to building the team, and gaining the AIFM license, it will be key to manage the relationship between the regulator and the firm, and to transmit the needs of the regulator into the business effectively.
- Leading the overall efforts in Luxembourg and in obtaining an AIFM license; developing the processes and policies and assisting with the recruitment of the team required to establish a “best-in-class” fund operations team in Luxembourg, leveraging off the existing infrastructure and processes in place already within the Fund Operations team in other offices, and tailoring these to local Lux regulations
- Evaluating how processes and systems developed in Luxembourg can strategically and tactically support the wider group and derive an optimal, balanced outsource/insource model for Lux operations
- Identify and implement any tactical IT solutions identified as necessary to support the above
- Generally, acting as point person in Luxembourg for the firm, liaising and developing strong relationships with deal teams in the various overseas offices where advisory entities are based – to become a trusted partner in progressing deals through to completion or termination on a timely basis.
- Establishing relationships with existing and potential Luxembourg investors through regular investor reporting and queries as well as preparing the Luxembourg platform for Operational Due Diligence processes during fundraising or ad-hoc needs
- Further develop the existing Luxembourg network of peer funds, business partners, legal advisors, auditors, administrators, depositaries and regulators within Luxembourg
Once AIFM license is obtained, carry out the duties and responsibilities of a Conducting Officer in charge of Portfolio Management of an AIFM, including but not limited to:
- Implementing and developing the processes to ensure proportionate supervision of the delegated portfolio management activities, through regular liaison with the overseas Fund Ops team and the GP boards in Lux and overseas
- performing on-going due diligence processes on the delegated portfolio manager and establish processes to pave the way for the later insourcing of the portfolio manager role
- being a member of the GP board of the Fund in Lux and presenting at this and other boards and relevant committees with respect to portfolio management, outsource management and generally matters arising within Lux Ops
- maintenance of positive and constructive relations with the CSSF and other regulator
Responsibilities as Conducting Officer in charge of Fund Administration of an AIFM including:
- lead the quarterly review of the SLAs with outsourced provider relationship management
- facilitate, during fundraising or ad-hoc, any Operational Due Diligence visits by potential or existing Lux investors
- act as a member of the Fund Management Committee, the firm’s forum for raising and updating fund specific matters regarding reporting, forecasting, technology and fund management
- act as a member of the Investor Relations Management Committee, the firm’s forum for raising and updating fund specific matters regarding IR matters arising
As this is a senior position setting up a new AIFM, it would be advantageous if the candidate comes with AIFM experience, ideally having been involved with the set-up of another AIFM or ManCo before. The candidate needs to arrive with already strong regulatory knowledge of both Luxembourg and the CSSF – preferably from working in a similar function. It will be his/her role to ensure the Luxembourg AIFM is well established and governed from the outset and to be heavily involved in the recruitment and development of the wider team.
The recruit will stay in the loop on deals; ensuring good communication across stakeholders so that pipeline transactions are well-organised and managed to often tight time frames.
Personality-wise the recruit is business-oriented, enjoys and takes pride in his/her work, is analytical, tenacious, flexible and committed.
The successful candidate will join a hardworking and dedicated team across Europe and North America. The reporting line will be a senior one – into C-level in another location.
The culture is typically Northern European: ambitious, entrepreneurial yet flat hierarchy.
Senior individuals are switched on and able to articulate a high-level overview backed up with accurate details. This recruit will be expected to get stuck in, in terms of leading the Luxembourg AIFM whilst also getting their hands dirty.
- 15+ years’ experience with an exposure to AIFM / Management Company business
- Solid understanding of investment funds, with a focus on AIFs, ideally Private Equity
- Previous involvement in M&A transactions from an advisory perspective or similar would be a distinct advantage
- An undergraduate degree with an outstanding record or academic achievement from a leading university
- Ability to travel and work in a multi-cultural, international environment
- Ability to handle competing demands from different senior stakeholders
- Excellent analytical skills and attention to detail with a strong work ethic
- Fluent in English
- Ideally a Luxembourg resident
Relocating to Luxembourg?
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