Simpson Thacher and HSF target Luxembourg in private equity push

Top law firms Simpson Thacher & Bartlett and Herbert Smith Freehills are opening offices in Luxembourg to capitalize on the country's growing role as a "gateway to Europe" for private capital.

Simpson Thacher and HSF target Luxembourg in private equity push

Both firms plan to launch early next year, with Simpson Thacher hiring three partners from A&O Shearman and Clifford Chance, and HSF bringing in two from A&O Shearman and a partner from Maples & Calder.

Luxembourg attracts PE firms

Luxembourg's legal, regulatory, and tax advantages, combined with a growing retail market for wealthy individuals, are attracting private equity firms. Assets in Luxembourg-based private equity and venture capital funds grew 5.7% to €174bn in 2023.