Luxembourg AIFs under special limited partnership (SCSp) form may use US GAAP accounting principles
Luxembourg-domiciled alternative investment funds in the form of special limited partnerships (SCSp) may use US GAAP accounting principles under an amendment to the legislation transposing the Alternative Investment Fund Managers Directive into national law. Previously they were required to follow Lux GAAP or IFRS principles. The change, adopted as of July 21, is intended to enable US asset managers to meet the needs of their investors and enhance comparability with other funds.
The law of 21 July 2021 has amended article 20 (3) of the Luxembourg AIFM law.
For more information, please get in touch with our investment management team.