During the marketing phase, the sponsor received enquiries from some of the European LPs of the preceeding fund. These LPs indicated that they will require an AIFMD-compliant fund.
The Sponsor approached Royalton Partners to discuss the available structuring options. It appeared that a parallel Luxembourg limited partnership, the SCSp, would be the most convenient option. A Luxembourg law firm drafted the LPA using the Channel Islands documentation as a base, adding AIFMD specific features added. These mainly related to marketing, role of the advisory board and the role of service providers.