Articles by
Lisa Fichtinger
Managing Director (AIFM), Fund Administration AT/DE
Managing Director and AIFM specialist focused on venture capital fund administration. Bocconi-educated with deep knowledge of Austrian and German fund structures.
Austrian depositary bank requirements: what fund managers need in place from day one
Austrian law mandates a depositary for licensed AIFMs, and even registered managers face pressure to appoint one. Here is how the depositary requirement works, what it costs, and how to structure it.
Germany's fair market value threshold: what growing fund managers must prepare for now
A pending German law will switch the AIFM threshold calculation from acquisition cost to fair market value. Funds with appreciated portfolios could suddenly need full authorisation.
Carried interest in German funds: how GP compensation actually works in a GmbH & Co. KG
Germany taxes carried interest at an effective rate of about 28.5% — if you get the structure right. Most first-time managers do not. Here is what the qualified carry regime requires and where it breaks down.
AIFMD II in Austria: what the loan origination rules and liquidity tools mean for your fund
Austria's AIFMD II implementation lands in April 2026 with new concentration limits, leverage caps for loan-originating funds, and mandatory liquidity management tools for all open-ended AIFs. Here is what emerging managers need to know.
German partnership tax returns: the filing obligation that catches fund managers off guard
If your fund has two or more German investors, you are required to file an annual partnership tax return in Germany. Most managers find out too late.