Roundtable’s funds use a tax transparent vehicle in Luxembourg, i.e. a SCSp. The main benefit thereof is that it allows for full fiscal neutrality. The investment made by the fund will be deemed to be made by the investors directly, in proportion of their interests in the SCSp. The revenues accruing to the fund will be deemed to accrue directly to the investors.

Please note that the treatment of the distribution made by the fund to the LPs should be checked for each investor, depending on their own jurisdiction and their own situation in such jurisdiction.

Roundtable can liaise with the LPs’ tax advisors if this is requested.