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Fund Structuring Image

Fund Structuring

Live online classroom
24 - 25 Feb 2022
Add to calendar 2022-02-24 16:00 2022-02-25 17:00 Europe/Brussels Fund Structuring A detailed overview of the factors influencing the selection of specific private equity and venture capital fund structures.
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Overview Practical information

What is it?

Invest Europe's Fund Structuring course aims to help private equity and venture capital professionals choose the right structure for their fund.

The following aspects will be covered:

  • Key objectives in structuring a private fund: how to go about delivering a structure that is tax neutral, flexible, and well understood by the market.
  • The main structures available: the pro's and cons' of limited partnerships, corporate and other fund structures; why are parallel funds and master-feeder structures used? How do you make the right choice between different vehicles in different jurisdictions? What are the marketing restrictions that apply to different structures?
  • Impact of the new regulatory landscape: does AIFMD mean it’s better to be onshore or offshore? Has it become harder to market to European LPs? Role of the depositary; Rules on remuneration of senior staff.
  • Impact of new tax requirements: recent changes affecting carried interest schemes as well as the impact on funds of changes targeting perceived tax avoidance.
  • Key fund terms: a look at the most important provisions of the limited partnership agreement from the perspective of both the GP and the LPs (including: key man protections, GP removal, early termination of the fund, role of the Advisory Committee, the distribution waterfall, claw back from LPs, claw back from the GP, management fees and fee offsets, transfers of LPs interests, indemnification, successor funds and co-investments).
  • Market trends: early bird and other fee discounts, so-called 'deal-by-deal' funds, no-fault LP rights, internalisation of operations and fee/expense disclosures.
  • Fundraising steps: teasers, PPMs, AIFMD disclosures, side letters (including 'most favoured nations' clauses) and closing process.

Online delivery

To accommodate our members, Invest Europe has decided to hold the 2021 editions of this course as online training. The online course edition is being designed with the same key elements that are valued by our course participants – excellent content and speakers, and interactive group discussions. The updated course structure and format will accommodate online delivery, with shorter sessions and ample audience engagement.

Practical information

This training course will take place online.





Thursday, 24 February

16:00 - 16:30 CET Introduction

16:30 - 18:00 CET The main structures available

  • Investor objectives
  • Manager objectives
  • Structural solutions
  • The Limited Partnership (UK, Lux, CI)
  • Key documents

Friday, 25 February

9:00 - 10:00 CET Tax structuring - Part 1

  • Main tax objective of investment funds and typical set-ups

10:00 - 10:15 CET Online coffee break

10:15 - 11:05 CET Tax structuring - Part 2

  • Global tax context for investment funds: OECD initiatives (BEPS and MLI), EU directives and latest news on international taxation for investment funds

11:05 - 11:20 CET Online coffee break

11:20 - 12:30 CET Regulatory and compliance issues

  • The AIFMD
  • Depositary requirements
  • Capital requirements
  • Organisational requirements, governance and delegation
  • Pay regulation

12:30 - 14:00 CET Lunch break

14:00 - 14:50 CET Regulatory and compliance issues

  • Investor requirements (conflicts of interest and preferential treatment)
  • Reporting and disclosures
  • Private equity provisions
  • EuVECA (in outline)
  • MLD 4 and AMLD 5
  • MiFID II

14:50 - 15:00 CET Online coffee break

15:00 - 15:50 CET The main economic terms

  • The 2 and 20 model
  • Manager co-investment
  • The distribution waterfall
  • Clawbacks; recycling; fees and expense

16:00 - 16:10 CET Online coffee break

16:10 - 17:00 CET Key fund terms and market trends: a look at the most important provisions of the limited partnership agreement from the perspective of both the GP and the LPs and highlighting how the market is evolving

  • Investor protection rights: key man protections; GP removal; early termination of the fund; successor funds
  • Terms relating to the operation of the fund: transfer rights; indemnification; the advisory committee
  • Trends: co-investment; disclosure; reporting templates

This training course will take place online.

Fees, method of payment and cancellation

Course Fee (excluding accommodation)

Invest Europe Members: €600

Non-members: €855

The above prices also include all material relating to this course.


Participants are requested to pay by cheque, banker's draft, bank transfer or credit card in EURO as shown on the Application Form. Applications sent after 24 January 2022 should be paid by credit card.

Bank transfers: should be made net of bank charges and commission to the following bank: ING Avenue Marnix 24, B-1000 Brussels

International bank transfer account number: IBAN BE33 3300 5785 0046 SWIFT/BIC: BBRUBE BB

Domestic bank transfer account number: 330-0578500-46

A copy of the bank transfer should be sent together with the application form. To avoid any confusion, participants are requested to indicate clearly their names and addresses on transfer orders and cheques. Confirmation of registration for fees and practical information will be sent after receipt of the application form and payment. For late registrations (see above), we require payment via a credit card.


Cancellations can only be accepted if received (in writing) by 24 January 2022. Fees (less 20% administrative charges) will then be refunded. After this date, delegates will be liable for the full fee.

In case of cancellation, a substitution between members of the same company is still possible at any time.


The working language of the course will be English.


To register for Invest Europe's Fund Structuring course, the candidate should submit the application form and proof of payment. Invest Europe maintains the right to refuse the registration if it is not accompanied by all the supporting documents.

Due to the high demand for Invest Europe Training courses, priority is given to Invest Europe's members. Registrations will be handled on a first-come-first-served basis. Any registration received after 24 January 2022 should mention a credit card number for the payment of course fees.


To view the speaker profiles, please click here


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