Luxembourg is a leader in the structuring and distribution of investment funds; the world’s second most attractive financial center for the creation, management and marketing of investment funds; and a prime location for investments in alternative assets. Luxembourg achieved its leading position with €5.16 trillion assets under management in investment funds created and managed by 330 asset managers registered therein by constantly adapting its legal framework based on European and global legislative developments and market trends. In this context, the Luxembourg Parliament adopted the highly anticipated bill no. 8183 on July 11, 2023, which was published on July 24, 2023, and entered into force on July 28, 2023 (Law). The purpose of the Law is to improve and modernize the Luxembourg investment funds toolbox to maintain the jurisdiction’s attractiveness and competitiveness as a financial center, as well as to promote access of retail investors to alternative investment opportunities. In a guest article, DLA Piper attorneys Caroline Pimpaud and Céline Curatola detail the parameters of the Law and how its reforms are directed at promoting the ongoing prominence of Luxembourg as an attractive jurisdiction for fund managers. Specifically, the article details two types of changes to the existing Luxembourg sectoral laws: modifications designed to directly or indirectly encourage investments, and to either endorse existing practices or to make corrections to facilitate the structuring of investment funds. See “Unlocking Global Investment Opportunities: The Power of Luxembourg Private Funds” (Aug. 10, 2023).