Universal-Investment has appointed Marc-Oliver Scharwath as managing director of Universal-Investment-Luxembourg. The current head of legal/ fund-setup will also expand the company’s local presence in the financial centre of Luxembourg and further intensify communication with investors, partners and regulators. Together with Matthias Müller and Stefan Rockel, he will manage the Luxembourg platform of Universal-Investment, each of them are managing members of the board of directors as well.
Scharwath, 38, joined Universal-Investment in Luxembourg at the beginning of 2012 and has been responsible for providing legal support on mandates. This primarily includes the establishment and structuring of Spezialfonds (special funds) as well as traditional and alternative investment vehicles under Luxembourg law. Before joining Universal-Investment, Scharwath worked for Hauck & Aufhäuser Luxembourg and for Luxembourg’s largest commercial law firm. A fully qualified lawyer who also holds a master of laws degree (LL.M.) in international commercial and business law, he studied at Trier University and at Saarland University (in Saarbrücken), also completing courses in the UK and the US.
“We are delighted to have Marc-Oliver Scharwath on board as a recognised specialist for the legal support of regulated and unregulated investment vehicles in Luxembourg,” said Bernd Vorbeck, president of the administrative board of Universal-Investment-Luxembourg and management board spokesman for Universal-Investment’s parent company. ‟His expertise will be a key advantage in the continued development of this important location for Universal-Investment. As a full-service provider for master-KVGs, we offer our clients solutions for all asset classes and structures – our Luxembourg platform plays a central role in this regard.”
Long-serving managing director Alain Nati is leaving the executive board and board of directors of Universal-Investment Luxembourg at his own request for personal reasons. He will take on responsibilities as director of the registrar and transfer agent department as well as the Central Corporate Investment Management department. ‟We offer our very sincere thanks to Alain Nati, who helped successfully build up Universal-Investment Luxembourg and played a significant role in making it a success story. With his many years of experience, he will provide important impetus in his new position as well,” Vorbeck said.
Luxembourg platform on expansion path
Universal-Investment’s Luxembourg unit currently manages assets worth 24.8 billion euros, which is 4.1 billion euros more than a year ago and three times more than five years ago. During a period of low interest rates, the strong growth is partly attributable to the rising interest of investors and asset managers in so-called real assets, meaning investments in tangible assets, such as renewable energies, property or infrastructure, including bridges and roads. In recent years, Universal-Investment has structured real asset projects with a total volume of about 15 billion euros, very often using Luxembourg fund vehicles in the process. In addition to the currently popular SCS-SIF form of Luxembourg’s special fund version of the limited partnership, the recently introduced RAIF vehicle (reserved alternative investment fund) should also provide growth for Universal-Investment as an alternative investment fund manager in the future, since the RAIF combines the proven structures of the SIF (specialised investment fund) regime with a convenient time to market.