Zornitsa Chorbadzhiyska

Zornitsa joined Linklaters Munich in November 2019 after having previously worked as trainee for Linklaters Munich and New York for several years. She was seconded to the Luxembourg investment funds practice for nine months in 2021 and for additional three months in 2022. Since then, she has been working for both the Munich tax practise as well as the Luxembourg investment funds practise.

Zornitsa specialises, inter alia, in advising institutional investors on investments in alternative investment funds in all asset classes (in particular private equity and infrastructure funds), in particular conducting fund due diligence reviews, negotiating side letters and providing legal, regulatory and tax advice on such investments during their term. 

She also advises on the establishment and fundraising of Luxembourg alternative investment funds, in particular Luxembourg RAIFs and unregulated funds as well as the ongoing support of fund managers and sponsors in connection with such funds. 

Her advice covers the legal, regulatory and tax aspects both from a Luxembourg and German perspective.

Work highlights

Zornitsa's experience includes:

• HSBC Asset Management: advising on the structuring and establishment of their Luxembourg alternative investment platforms (SA SICAV-SIF and SCA SICAV-RAIF) for institutional investors in the asset classes impact, infrastructure and private equity as well as performing the due diligence review of their target fund investments.
• Major US asset manager: legal and regulatory advice with respect to the establishment, marketing and fundraising of several Luxembourg debt funds in the legal form of a Luxembourg SCSp and a Luxembourg RAIF focusing on the sub-asset classes infrastructure debt, opportunistic credit, direct lending etc.
• A Swiss global impact investment firm: advising on setting up of several commingled and dedicated Luxembourg investment funds in the form of a reserved alternative investment fund (RAIF). 
• A number of large German insurance companies (including SparkassenVersicherung, Versicherungskammer Bayern and Provinzial Versicherung) and pension funds as well as German corporate listed on the Frankfurt Stock Exchange and family offices: advising on various private equity, private debt, infrastructure and real estate investments in target funds from a legal, regulatory and tax perspective.

Zornitsa studied law at the Ludwig Maximilian University of Munich and is fully qualified German lawyer registered with the Munich bar association.

Zornitsa speaks German, English, Bulgarian.