CK Capital and Monarch acquire Teleport Towers, an office building in Amsterdam for a value of EUR 30 million

In recent years, the VAT treatment of M&A services in share transactions has been subject to considerable debate. In a Policy Decree published on 15 October 2025, welcome guidance is offered to the M&A practice.  

US fund managers (USFMs) seeking to raise capital in Europe from institutional investors typically structure their offering through a Luxembourg special limited partnership (SCSp).

US fund managers (USFM) raising capital in Europe typically do so via a Luxembourg parallel or feeder special limited partnership (the SCSp). For a variety of reasons this European capital is hard to access without an investor-facing SCSp.