Private Equity Magazin

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Corporate Tax 2023 – What you should know about German law

For the current edition of the reference book "Corporate Tax 2023", our PE magazin tax law experts take a close look at the most important aspects of German tax law....
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Infrastructure investments – Current trends in a challenging environment

Energy uncertainty, market volatility and geopolitical tensions – The challenges for investment funds, especially in the infrastructure sector, are currently enormous. At the Infrastructure Investor Global Summit in Berlin at the end of March, PE-Magazin-author Tarek Mardini spoke with Nicola Palmer, partner of the Australian investment company QIC, about the current trends on the market and the topics that are particularly popular with investors....
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Private Debt – Growing segment with structural staff shortage

The private debt sector has been growing for years: international funds are increasingly entering the German market, opening new branches, and setting up new structures. And in regard to recruiting, the industry is encountering challenges. After all, the personnel target groups are extremely narrow – not only for private equity funds but also for private debt firms, and the competition is strong. Strategy consultants Britta Bene and Cornelia Keßler provide an insight into the competitive labour market....
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Proposed extension of VAT Exemption for Management of all Alternative Investment Funds (AIFs)

On 4 April 2023, the German Federal Ministry of Finance (BMF) and the German Federal Ministry of Justice (BMJ) announced a draft bill for an Act on Financing of Future-Proof Investments ("Zukunftsfinanzierungsgesetz"). This Act on Financing of Future-Proof Investments aims in particular at extending the existing VAT exemption for the management of certain investment funds to the management of all Alternative Investment Funds (AIFs)....
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Fund Formation 2023 – Law and Practice in Germany

In this guide, leading practitioners answer the same key questions for their respective jurisdictions. PE Magazin authors Tarek Mardini, Dr Matondo Cobe and Antonia Nabavi contributed the chapter on fund formation issues in Germany....
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Overview Germany – Law & Practice Investment Funds 2023

The Chambers Legal Practice Guide Investment Funds provides a global comparison of the legal, tax and regulatory aspects related to the establishment and operation of investment funds in the individual countries. PE Magazin authors Amos Veith, Jens Steinmüller, Ronald Buge and Stephan Schade provide everything worth knowing about the German market and legal system....
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Private equity transactions 2023 – How the German market works

Quick reference guide enabling side-by-side comparison of local insights, including into types of private equity transaction, corporate governance, disclosure and timing considerations, dissenting shareholder rights, key purchase agreement provisions, participation of target company management, tax, financing, shareholders’ agreements, exit strategies (including IPOs), target sectors, cross-border considerations, club/group deals and key recent developments....
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ESMA takes aim at fund names in fight against greenwashing

Fund names are an important marketing tool. They convey a first impression of the financial product and give investors an orientation, e.g. whether a fund is sustainability oriented. These "green" funds in particular have made it on ESMA’s radar, because some of the funds named green are anything but sustainable. ESMA wants to curb this "greenwashing" with strict criteria....
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Private Client 2023 – Q&A on German law

This country-specific Q&A provides an overview of private client laws and regulations applicable in Germany. It covers common issues in private client laws, including pre-entry tax planning, connection factors, taxation issues on inward investment, succession planning, trusts and foundations, immigration issues and tax treaties. ...
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Management companies – Obligations to communicate electronically with the BaFin

From April 1, 2023, all management companies will be legally obliged to communicate electronically with the BaFin. The electronic submission channels must be used in relation to several notifiable cases newly specified by law, from April onwards. ...
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A Question of Residence – On unlimited tax liability despite many years of work-related residence abroad

A taxpayer can have several residences in Germany and abroad at the same time. But which one is relevant for German tax purposes and when? A recent ruling by the Fiscal Court of Baden-Württemberg has made a decision on this....
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Obligations of fund managers (AIFMs) for the year 2023

In the following, we have compiled the most important ongoing reporting and publication obligations for AIFMs. ...
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European Court of Justice overturns Anti-Money Laundering Directive

The European Court of Justice (ECJ) has declared parts of the Anti-Money Laundering Directive invalid in a ruling issued on November 22, 2022. Specifically, this concerns a provision pursuant to which information on beneficial owners of companies must be accessible to the public in all cases. This measure was intended to prevent money laundering and terrorist financing....
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SFDR disclosures must be made in new format beginning Jan. 1, 2023

For funds according to Art. 8 and Art. 9 SFDR, new requirements regarding the content and format of sustainability information will apply from 2023 and must be complied with. Corresponding models are already available....
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Compulsory Share – German Federal Court of Justice specifies requirements for the application of foreign inheritance law

Dealing with potential claims to a compulsory share is regularly a crucial issue in estate planning. This is particularly true in the case of cross-border successions – whether the future testator and the potential claimants of the compulsory share live in different states or the assets are distributed internationally (or both). A recent ruling by the German Federal Court of Justice now provides more legal certainty....