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"Private funds", typically invested in by sophisticated investors, have their investment terms often negotiated through detailed and highly tailored side letters. These side letters contain specific terms in addition to those set out in the key fund documents. Over time, the number and complexity of these side letters have increased, presenting unique challenges for fund sponsors and their lawyers.

Like other law firms in Luxembourg, notably Clifford Chance and Arendt & Medernach, the Luxembourg subsidiary of Allen & Overy has created a department specially dedicated to the transmission of knowledge, known as Knowledge Tech. Let's take a look at it.