Anne-Gaëlle Delabye
Co-Managing Partner, Head of Investment Funds and Regulatory group, Luxembourg
Anne-Gaëlle Delabye is Co-Managing Partner of Osborne Clarke Luxembourg and leads the firm’s Investment Funds and Regulatory group. She advises on the formation and operation of alternative investment funds, with a particular focus on private equity, venture capital and private debt.
With almost 20 years’ experience, Anne-Gaëlle works with clients across Europe, the US and Asia. Her practice brings together funds and regulatory expertise, including sustainable finance, ESG, impact investment and technology-related matters.
Anne-Gaëlle has practised in Luxembourg since 2005. Her experience includes a secondment in Hong Kong and work within the fund structuring team of a Luxembourg bank.
Key focus areas
- The full fund lifecycle, including complex Luxembourg fund structuring, parallel funds and master-feeder arrangements
- Fund investments, legal due diligence and the negotiation of investment terms
- Alternative investments formation and operation, particularly private equity, venture capital and private debt
- Impact investment, ESG and sustainable finance
- Cross-border structures.
Who I advise
- Financial institutions, asset managers and investment firms across multiple jurisdictions including Luxembourg, the UK, Europe, the USA and Asia
- Institutional investors
- General and limited partners
- Fund sponsors
- LP advisory services.
Sector focus
Financial services – acting for financial institutions, asset managers, investment firms and institutional investors involved at all stages of fund formation and operation, including cross-border.
How I help clients
- Anne-Gaëlle is actively involved in the Luxembourg funds industry. She sits on the Sounding Board of the Luxembourg Private Equity and Venture Capital Association (LPEA) and leads an LPEA working group on Luxembourg’s competitiveness of Luxembourg.
- She is a regular speaker at LPEA and Association of the Luxembourg Fund Industry (ALFI) conferences and contributes to training and publications on Luxembourg funds law, fund structuring and sustainable finance. She is also a member of the International Bar Association.
- Industry involvement means advice is up to date, informed and with an eye to future developments, helping clients avoid potential pitfalls.
- Clients value her clear, pragmatic approach and her ability to balance legal requirements with commercial priorities.
Notable experience
- Our team advised a global private credit manager on the establishment of a USD 3bn sophisticated multi-jurisdictional master-feeder fund structure designed to support lending to middle market companies in North America.
- We advised this leading investor across energy transition, electrification and decarbonization infrastructure assets in the context of the establishment of two parallel master feeder structures, one levered (Delaware/Luxembourg) and one unlevered.
- We supported a prominent investment entity based in Switzerland with the incorporation of a Luxembourg UCITS.
- We advised a global asset manager, with approximately USD 7.7 billion in assets under management, on the establishment of its first Luxembourg open-ended credit structure.
- We delivered comprehensive advice to a client regarding the structuring of a fund-of-one co-investment vehicle, limited to a single Limited Partner (LP) and a single General Partner (GP), investing alongside the main fund.
- We provided guidance on the establishment of a Luxembourg closed-ended credit fund formed as a RAIF.
Credentials and recognition
- Ranked “Excellent” for Luxembourg fund structuring in the Leaders League 2026 rankings
- Ranked in Chambers Europe 2026 and Chambers Global 2026: Luxembourg: Investment Funds
- Recommended in Legal 500 EMEA 2026 Luxembourg: Investment Funds.
Anne-Gaëlle Delabye is a brilliant lawyer. She is very technical, client-focused and always able to find the right balance between legal constraints and commercial requirements.
Anne-Gaëlle Delabye is a very commercial funds lawyer with excellent team and project management skills, clear explanations and a problem-solving approach.
She delivers practical advice fast and reliably.
Anne-Gaëlle Delabye [provides] ‘very commercially-minded’ advice to fund sponsors, including on private equity, venture capital, ESG and private credit strategies.
Anne-Gaelle Delabye is a great partner with a wealth of experience. She is very commercially-minded and a pleasure to work with.
Anne-Gaelle Delabye is an excellently knowledgeable person, very caring about the client's needs, very smart and always thinking ahead.
