Zornitsa Chorbadzhiyska

Zornitsa joined Linklaters Munich in November 2019, following prior experience as a trainee with Linklaters in both Munich and New York. Since then, she has undertaken several secondments to the Luxembourg and New York investment funds practices. She is a member of the Munich tax practice as well as the Luxembourg investment funds practice.

Zornitsa specialises in the structuring, establishment, and ongoing advisory of alternative investment funds (sponsor practice), as well as advising institutional investors on investments in international fund structures (investor practice).

Her sponsor practice focuses particularly on German and Luxembourg unregulated funds, encompassing both commingled funds and separately managed accounts. Zornitsa provides advice across a broad spectrum of asset classes, including private equity, real estate, infrastructure, green energy, debt, venture capital, and impact investing.

Her expertise spans legal and regulatory matters from both German and Luxembourg perspectives, alongside tax-related advice from a German perspective.

Work highlights

• Carlyle in the formation of its third Carlyle Credit Opportunities Fund, with $7.1 billion of investable capital, which provides borrowers highly structured and privately negotiated solutions across the capital structure to family, founder, and management-owned companies, sponsor-backed companies, and special situations.

• 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.
• Blue Earth Capital AG: advising on setting up of several commingled and dedicated Luxembourg investment funds in the form of a reserved alternative investment fund (RAIF). 
• Ardian: advising on the German regulatory and tax aspects of a number of funds marketed to German institutional investors.
• A number of large German insurance companies, pension funds, corporate investors and family offices: advising on 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.