Lisa Klemann

Lisa Klemann


Lisa advises clients on fund formation (liquid, including UCITS, and illiquid funds), with a particular focus on alternative investment funds (e.g., private equity, real estate, infrastructure, fund-of-funds, etc.).

She assists clients on regulatory and corporate matters relating to the ongoing operation of funds. She also has vast experience in advising institutional investors in relation to their participation/investments in Luxembourg closed-ended funds and regularly advises funds and banks in the context of fund financing transactions. In addition, Lisa advises on the establishment and licensing of alternative investment fund managers and fund management companies, as well as on their ongoing regulatory obligations. She has strong expertise in ESG-related matters in the funds and asset management space.

Lisa successfully obtained the Sustainable Finance and Investment certificate from the Yale School of Management.


Pro bono

Advising Calvert Social Investment Foundation on its investment in several Luxembourg funds.

Published Work

  • Luxembourg fund financing : finding common ground for lenders, funds and investors, Droit bancaire et financier au Luxembourg – Volume VI, 2024 (co-author)
  • The growing importance of corporate social responsibility to attain sustainability goals, Article in EFPA ESG HANDBOOK 2022 and 2024, Luxembourg (co-author)
  • Assessing ESG risks in alternatives, Delano, Spring 2023, interview
  • "Sustainable finance: to be or not to be an article 8 or 9 fund?, Pre-contractual Disclosure Obligations", AGEFI Luxembourg, March 2021 (co-author)

Leadership Positions And Professional Affiliations

Member of the Luxembourg Banking Lawyers Association (ALJB)

Member of the Luxembourg Private Equity Association (LPEA)



Admitted as avocat à la Cour, Luxembourg, 2017

Admitted as avocat, Luxembourg, 2014


Master 2, Droit privé, option droit des entreprises, Université Libre de Bruxelles, Belgique, 2013

Master 1, Droit privé, Université Libre de Bruxelle, Belgique, 2012


English, French, German, Luxembourgish
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.