KPMG’s comprehensive approach to AIF life cycles
When it comes to Alternative Investment Funds, KPMG covers the complete industry value chain and its challenges – no matter if you’re a General Partner, AIFM, Asset Owner or Asset Servicer.
From setting up your fund to reporting, realization and divestment – and everywhere in between – our industry experts can advise you at every milestone. We’ll provide straightforward and in-depth compliance, audit, accounting, tax and technology services to assist and advise you where needed.
Alternative Investment Fund life cycles
- General Partner
- Asset Owner
- AIFM
- Asset Servicer
Investment strategy
Corporate finance
M&A services and valuation
Have you defined your investment universe and identified potential investment targets?
Have you conducted a historical return analysis?
Strategy
Fund strategy
Have you defined your investment strategy and established your risk management internal controls processes?
Are your risk management controls and procedures up to date?
Fund structuring and setup
AIFMD
Internal controls review
Are your AIFM internal controls correctly enforced?
Fund structuring & setup
Tax Structuring
What is the best tax structure to be used?
How do you ensure that you are ATAD 1 and 2 compliant? Are you prepared to comply with ATAD 3?
Transfer pricing
Do you have a transfer pricing policy in place or to be designed for all your transactions between related entities in the structure?
Related pages
Fund operations
Fund distribution
Have you considered all tax, regulatory and legal aspects for cross border distribution?
Fund services
How do you ensure an efficient corporate secretarial process?
Strategy
Fund strategy
How does your fund fit into your operational model?
Service outsourcing and provider selection
Strategy
Fund strategy
What functions could and should you outsource?
Market intelligence
Are your third party fees in line with market practice?
Service provider selection
How do you choose the most appropriate service providers for your needs?
Marketing and distribution
Fund operations
Fund distribution
How can you effectively distribute your fund?
How can you ensure compliance with marketing?
How can you ensure all reporting (legal, regulatory, operational and client) requirements are met?
Related pages
Strategy
Market intelligence
How competitive is your fee structure compared to other investment managers?
Fund raising
Corporate finance
Valuation
How do you ensure that you maximize the attractiveness of your investment product to reach investment targets and prepare for fund raising?
Strategy
Listing
How can you list your investment product?
Investor onboarding
Fund operations
Reporting
How can you ensure that your investor onboarding process is compliant with AML/KYC guidelines and provides a best-in-class experience?
Due diligence
What level of due diligence should you apply for new investors?
Transaction and due diligence
Corporate finance
M&A buy side
How do you ensure an effective and efficient seller and asset financial due diligence?
How do you ensure an effective and efficient seller and asset tax due diligence?
How do you ensure you select and invest in a target company successfully?
Valuation
Corporate finance
Valuation
How do you ensure the fair valuation of the target company or real estate?
Fund operations
Valuation
How can you determine the fair value of loan collaterals for debt restructuring and obtain debt funding as well as lines of credit, e.g., share pledge enforcement of private debt funds?
Structuring
Tax
M&A Tax
How to structure the acquisition of a new Target or the disposal of a Project?
Are there VAT implications linked to purchasing an asset?
Which VAT registration regime fits best based on your economic activity?
Fund operations
Fund services
How do you incorporate and domicile a Luxembourg vehicle?
Calling capital
Fund operations
AML/KYC
How do you ensure AML/KYC compliance and tax implications when calling capital from your investors?
Performance monitoring
Corporate finance
Valuation
Do you have an effective overview of your track record on deals and funds?
Fund operations
Managed Services
How do you comply with Priips reporting regulation?
Know your asset platform
How do you have an effective oversight on your asset and sub-asset manager?
KPI definition and dashboard
How can you effectively collect, organize and visualize your fund's key performance indicators?
Strategy
Market intelligence
How can you turn data into actionable insights?
Regulatory reporting
Fund operations
Regulatory Reporting
How do you manage ESG reporting?
How do you comply with CRR reporting requirements from your Banking Investors?
How do you manage your Solvency II reporting requests from your Insurance Investors?
Is your data architecture, quality data, and data governance strong enough to deal with new requirements and increasingly demanding reporting?
How can you navigate ML/TF regulations and ensure compliance?
How do you ensure that appropriate privacy and security measures are in place to protect personal data under the GDPR?
How do you address the ramifications of the new AML / CFT Circular and ensure compliance?
Tax substance
Substance analysis
Substance analysis
How can you ensure operational efficiency within your tax model?
Divestment and exit solutions
Corporate finance
M&A sell-side
How do you make sure to execute the sale of assets on the best possible terms?
Due diligence
How do you guarantee the buyer a quality due diligence?
How do you anticipate the tax consequences upon liquidation of SPVs and cash repatriation up the chain?
Liquidation and winding down services
How can you exit the local market and/or dissolute your structure in Lux?
Performance distribution / Carry
Fund operations
Liquidation and winding down services
How can you ensure that your performance is accurately distributed?
Global mobility services
How do you ensure that management is properly incentivized?
AIFMD compliance and reporting
AIFMD
Reporting
How do you ensure compliance with AIFMD reporting?
How can you efficiently prepare all AIFMD reporting?
How do you ensure appropriate data treatments, classifications, and calculations in line with regulatory requirements?
AIFM review
How do you best prepare for CSSF inquiries and visits?
Regulatory compliance, internal controls, and other key function reviews
How do you ensure regulatory compliance with AIFMD?
How do you ensure operational efficiency when dealing with the AIFMD?
Internal audit
How can you best organize your internal audit function as an AIFM?
Regulatory compliance and oversight
How do you handle the volume of due diligence questionnaires and strenuous oversight framework that the AIFM puts into place?
Audit and assurance services
Audit and assurance services
Reviewing of accounts
How do you efficiently annually review your accounts?
RC support services
RC support services
Do your “responsables du contrôle” (RCs) need expert and tailored support to fulfill their duties, as prescribed by CSSF Regulation No. 12-02?
Fund admin and accounting
Fund operations
Fund services
How to ensure timely & accurate financial reporting?
Related pages
How can you effectively archive documents electronically in PSDC format?
Tax and reporting
Tax
Tax dispute resolution
Have you received a substantial tax assessment from the Luxembourg tax authority that deviates from your position taken in the tax return?
Are foreign tax auditors challenging the transfer pricing for interest payments, for royalties or other transactions with your Luxembourg entities?
Are you facing tax penalties or surcharges? Unsure about tax offences and crimes and how they relate to anti-money laundering or regulatory requirements?
Did you know that directors & board members are facing a personal and unlimited liability to pay corporate taxes, if they do not take proper care of tax compliance?
Global mobility services
Have you examined tax considerations, administrative obligations, and employee rights concerned with the moving of employees?
Transfer pricing
What tax risks should you consider when transferring intra group assets?
Tax reporting
Tax reporting
How can you best produce frequent, detailed, and transparent reports for your investors?
How do you comply with European tax reporting requirements?
How do you manage DAC 6 obligations?
Tax compliance
How can you ensure the structure is tax compliant, including different jurisdictions and at investor level?
FATCA / CRS
How can you ensure compliance with FATCA and CRS when acquiring assets?
Strategy, technology and operations
Strategy
Selection of IT systems
What IT system best fits your needs?
How can you seamlessly implement IT systems within your existing operating model?
New target operating model
How can you have a holistic view of your current operating model as well as a clear picture of your TOM?
Our added value - KPMG Alternative Investment range of services
KPMG leverages its deep sector knowledge and multidisciplinary teams dedicated to delivering customizable services to address your challenges and reach your business objectives.
- Cross-sector and support activities
- 1. Fund setup and capital raising
- 2. Asset Acquisition
- 3. Investment Ownership
- 4. Realization
| AIFM review (PDF | 0.8MB) | Regulatory compliance, internal controls, and other key function reviews |
| Corporate secretarial services | Reporting (PDF | 0.2MB) |
| Domiciliation services | Reviewing of accounts |
| Fund and SPV Accounting services | Selection of IT systems (PDF | 0.2MB) |
| Global mobility services | Tax compliance |
| Internal audit (PDF | 0.8MB) | Tax dispute resolution |
| New target operating model | Tax reporting (PDF | 0.8MB) |
| Regulatory compliance and oversight | Transfer pricing |
| Due diligence | Market intelligence |
| Fund distribution (PDF | 0.2MB) | Reporting |
| Fund services | Service provider selection |
| Fund strategy | Tax structuring (PDF | 0.2MB) |
| Internal controls review | Transfer pricing |
| Listing | Valuation |
| M&A services and valuation |
| AML/KYC | M&A tax |
| Fund services | Valuation |
| M&A buy-side |
| Know your asset platform | Regulatory reporting (PDF | 0.8MB) |
| KPI definition and dashboard | Substance analysis |
| Managed services | Valuation |
| Market intelligence |
| Due diligence | Liquidation and winding down services |
| Global mobility services | M&A sell-side |
Contact us
Christophe Diricks
Partner, Head of Alternative Investments
KPMG in Luxembourg