LPEA Reports 16% Membership Growth, Elects 10 New Board Members at 2025 AGM

The Luxembourg Private Equity & Venture Capital Association (LPEA) presented its Annual Report for 2024 at its Annual General Meeting (AGM) held on the premises of BNP Paribas Securities Services on Wednesday 11 June 2025.

The industry gathered to review the achievements of 2024, reflect on developments in the private equity and venture capital ecosystem, and to congratulate the ten newly elected Board members.

Among the key takeaways of the AGM was the fact that membership grew by 16% in 2024, with the LPEA welcoming 73 new members and reaching a total of 597. This increase reflects the continued momentum of the private equity (PE) and venture capital (VC) markets in Luxembourg.

In line with its international outreach efforts, the association hosted fourteen international seminars across Europe, North America and Asia, including first-time events in Stockholm, Vienna and Tokyo.

The AGM also highlighted the launch of the Consolidated Public Affairs Group (CPAG), a new initiative designed to strengthen the association’s voice in regulatory and legislative discussions. The CPAG aims to enhance coordination with national and European stakeholders, monitor relevant developments, and represent the interests of the PE and VC ecosystem.

In addition, LPEA introduced several new initiatives in 2024, including its first Venture Capital Masterclass, led by experienced industry practitioners, and the launch of an AI Lab focused on the application of generative AI in private markets.

As part of the annual rotation of one-third of its 30-member governing body, ten members were elected to the LPEA Board. Among them, the following three Full Members (investors and fund managers) were (re)elected: Cinven, represented by Gautier Laurent; Oakley Capital, represented by Marianne Spanos; Stonehage Fleming, represented by Raphael Eber.

In addition, the following seven Associate Members (advisers/service providers) were elected: Alter Domus, represented by Bruno Bagnouls; Arendt & Medernach, represented by Adrian Aldinger; Baker & McKenzie, represented by Diogo Duarte de Oliveira; Banque de Luxembourg, represented by Lucienne Andring; Clifford Chance, represented by Katia Gauzes; EY Luxembourg, represented by Laurent Capolaghi; PwC, represented by Valerie Tixier.

Following a year marked by gradual stabilisation in private equity markets across Western Europe and North America, Claus Mansfeldt, Chairman of SwanCap Investment Management SA and President of the LPEA, presented a positive outlook for the sector. He noted: “Deal activity proved resilient in 2024, with global deal count rising by 8% and deal value increasing by 20% year-on-year. Luxembourg continues to thrive as a premier hub for private capital, attracting top-tier investors thanks to its dynamic and strategic position.”

In his remarks, Stéphane Pesch, CEO of the LPEA, highlighted the importance of continued efforts to further develop the PE & VC sectors, stating: “As we enter a new chapter shaped by strengthened governance, member engagement, new business models and bolder ambitions, our mission is clear: to elevate Luxembourg as a complete premier hub for Private Equity and Venture Capital. Luxembourg's future is bright - together, let’s embrace transformation and drive the next wave of growth.”

To close the AGM, the LPEA invited Nicolas Milerioux (Encevo) and David González García (European Investment Bank), who discussed how innovation and investment are addressing critical infrastructure challenges and reinforcing resilience in the European energy market following the recent blackout in the Iberian Peninsula. James Burron (Canadian Association of Alternative Strategies & Assets) then shared insights into Canada’s alternatives market, focusing on key trends, investor appetite and the evolving role of private markets in portfolio construction.

The LPEA is the representative body of private equity and venture capital professionals in Luxembourg. With 630 members (as of 12 June 2025), the association plays a leading role in the discussions and development of the ecosystem and actively promotes the industry beyond the country’s borders.