Loyens & Loeff Networking Breakfast: Best Practices for onboarding a Host AIFM

On Thursday, 26 February 2026, the Luxembourg–Poland Chamber of Commerce (LPCC) held a focused morning networking breakfast at the offices of Loyens & Loeff in Luxembourg. The breakfast was dedicated for fund managers, legal advisors, and industry professionals to talk about the practical realities of onboarding a host AIFM.

The event included a high-level panel discussion, an interactive Q&A, and networking. It gave attendees real insights into Luxembourg’s alternative investment fund ecosystem.

Onboarding a Host AIFM: from theory to operational reality

The panel explored what truly determines a durable and efficient cooperation between a fund manager and a host Alternative Investment Fund Manager (AIFM).

Moderated by Darina Mohamad (Counsel at Loyens & Loeff), the discussion brought together:

• Michał Krawczyk, Group Tax Director at Kulczyk Investments
• Maciej Waloszyk, Founder of Cascade
• Urszula Budzinska, Director of Client Relationship Management at Waystone
• Frank van Kuijk, Partner at Loyens & Loeff

The first part of the conversation was about the “hard beginnings” of the onboarding process. Panellists talked about their own experiences with AML/KYC processes, gaps in documentation, governance requirements, and the steps managers need to take before starting a structure in Luxembourg. The conversation made it clear that successful onboarding starts long before the formal engagement, with a clear strategy, internal readiness, and realistic expectations.

Luxembourg operational standards and cross-border considerations

Then the experts looked at what it takes to establish robust operations between the host AIFMs and a fund sponsor. From the AIFM’s point of view, common onboarding mistakes include not providing all the necessary documents, not understanding compliance requirements, and making wrong assumptions about delegation, substance, and governance frameworks.

Particular attention was paid to cross-border issues. When non-Luxembourg managers enter the market, points of attention are: regulatory substance, structuring of the portfolio management function, and how well they fit with EU rules. The panel made it clear that price should never be the only factor in choosing a host AIFM. Long-term fit, technological capabilities, and personal relationship are often more important than small differences in cost.

They also talked about how digitalisation and new ideas in AML/KYC can help businesses run more smoothly, especially in one of the world’s most strict regulatory environments.

Expectations vs. reality: how to make a partnership last

Speakers also reflected honestly about the difference between what people expect and what actually happens. Managers often anticipate the administrative process to be easier. Despite the high price tag to pay at the beginning, Luxembourg provides number of incentives which investors look for.

Best practices that were mentioned in the conversation were:

• Preparing internally before talking to an AIFM
• Understanding what an AIFM can and can’t do
• Treating the relationship as a strategic partnership instead of a service for hire
• Putting money into governance and paperwork from day one

The Q&A session that came after let people talk about real-life issues like timelines, communicating with regulators, operational adjustments, and cooperation models.

Strengthening Luxembourg–Poland financial dialogue

The morning ended with informal networking over coffee, which helped strengthen the discussion and form new business connections.

The event confirmed Luxembourg’s status as a top European fund domicile and stressed the need for planning, openness, and strategic alignment when bringing on a host AIFM. The conversation gave managers a realistic plan for how to get into or grow in the Luxembourg alternative investment fund market by looking at it from legal, operational, tax, and technological points of view.

LPCC would like to thank Loyens & Loeff for hosting the event and all of the speakers and participants for making the discussion both interesting and useful.

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The Luxembourg-Poland Chamber of Commerce continues to serve as the premier platform for fostering business relationships between Poland and Luxembourg. If you’re interested in joining our community and participating in future events, contact us at info@lpcc.lu.

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