The Fonds souverain intergénérationnel du Luxembourg (FSIL) plans to focus on defence and technology sectors, potentially holding EUR100 million in private equity investments by 2030. Up to 10% of the EUR112 million commitment will go into private equity, with a further 4% going into Luxembourg’s housing market. The fund will initially prioritise co-investments with public institutions. Like some of its fairy tale castles, the Grand Duchy will be hoping that its new journey into private markets proves to be a magical experience. If fortune favours the bold, Luxembourg will be hoping its leap into private markets turns legend into lasting value.