The Council of the Luxembourg's government has approved the bill relating to the creation a new type of alternative investment fund in Luxembourg: the Reserve Alternative Investment Fund (RAIF). The most important characteristic of the RAIF is that it is not subject to regulation by the Financial Sector Supervisory Authority (CSSF), although it will be managed by an authorized AIFM.
Please find in the attached PwC newsalert more details with respect to the introduction of the RAIF in Luxembourg.
International Tax Services - Financial Services
, PwC US