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Moonfare

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Moonfare is a Berlin-based private markets platform founded in 2016 by former KKR director Steffen Pauls to give individual investors access to institutional private equity from €50,000. It manages €3.8 billion for 5,500+ investors across 24 countries (Q4 2025), runs its own Co-Investment, Secondary and Core fund series alongside feeder funds into KKR, EQT and Carlyle, and received BaFin authorisation as an independent investment firm in May 2026.

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Total Funds (On Fundscouter)

3

AUM

€3.8B

Team Size

200

Founded

2016

Company Information

Headquarters

Berlin, Germany

Geographic Focus

Global

Investment Focus Details

Private equity feeder funds, co-investments, secondaries, diversified portfolios

About Moonfare

From Berlin Start-up to €3.8 Billion Platform

Moonfare is a Berlin-based private markets platform founded in 2016 by Steffen Pauls, a former KKR director, to let individual investors invest in private equity funds from €50,000. Today it has €3.8 billion in assets under management for more than 5,500 investors in 24 countries, with further offices in New York, London, Zurich, Singapore, Paris and Luxembourg and a team of around 200 people. Pauls chairs the company and shares the chief executive role with Lorenz Jüngling; backers include Insight Partners, Fidelity International and Vitruvian Partners. In addition to feeder funds into managers such as KKR, EQT and Carlyle, Moonfare manages its own products — the Co-Investment, Secondary and Core fund series — and in May 2026 it was granted BaFin authorisation as an independent investment firm in Germany.

Key Figures (Q4 2025)

Assets Under Management

€3.8B

Q4 2025

Investors

5,500+

Across 24 countries

Founded

2016

Berlin, by Steffen Pauls

Employees

~200

7 offices

GP Relationships

250+

Deal sourcing network

Minimum Ticket

€50,000

Platform minimum (EU)

Leadership

Dr. Steffen Pauls

Dr. Steffen Pauls

Founder, Chairman & Co-CEO

Dr. Lorenz Jüngling

Dr. Lorenz Jüngling

Co-CEO & Managing Director

Philip Meschke

Philip Meschke

Head of Private Equity

Magnus Grufman

Magnus Grufman

Chief Operating Officer

History

2016

Founded in Berlin

Steffen Pauls, Heinrich von Liechtenstein and Alexander Argyros launch Moonfare to open institutional PE funds to individuals.

2021

€1bn AUM and Series C

Assets pass €1 billion; $125 million Series C led by Insight Partners, following Fidelity International’s Series B.

2024

€3bn AUM, own funds

Assets reach €3 billion; Moonfare expands from feeder funds into its own Co-Investment, Secondary and Core fund series.

2026

BaFin licence and MCF II close

Co-Investment Fund II closes at $83 million in February; BaFin authorisation as an independent investment firm in May.

Funds on Fundscouter

  1. Moonfare Co-Investment Fund II — direct buyout co-investments, $83M
  2. Moonfare Secondary Fund — open-ended LP- and GP-led secondaries
  3. Moonfare Core III — diversified portfolio of 8–12 buyout funds

Moonfare Funds (3)

Moonfare Co-Investment Fund II banner
Moonfare Co-Investment Fund II logo
Private Equity

Moonfare Co-Investment Fund II

Closed-endOpen

Min. Investment

€50,000

Mgmt Fee

N/A

Domicile

Luxembourg

Moonfare Co-Investment Fund II (MCF II) is a closed-end Luxembourg SCSp that invests directly in 12–15 buyout deals alongside sponsors such as Hg, Vista and EQT, mainly in North America and Europe. It closed above target at $83 million on 18 February 2026 — 43% larger than Fund I — with 30% already deployed, backed by individuals, family offices and small institutions from 20+ countries. €50,000 minimum; capital is locked for the life of the fund and fees are disclosed only to eligible investors.

Low (5+ years)
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Moonfare Core III banner
Moonfare Core III logo
Private Equity

Moonfare Core III

Closed-endOpen

Min. Investment

€50,000

Mgmt Fee

1%

Domicile

Luxembourg

Moonfare Core III is the 2024 vintage of Moonfare’s closed-end fund-of-funds programme (now marketed as “Buyout Portfolio”): a Luxembourg SCSp committing to 8–12 institutional buyout funds and 100+ underlying companies in North America and Europe. $50,000 minimum, ~1% fee plus 10% carry per Moonfare, 12-year term with two 2-year extensions, capital calls, no secondary market. Size, underlying funds and returns are disclosed only on the Moonfare platform.

Low (5+ years)
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Moonfare Secondary Fund banner
Moonfare Secondary Fund logo
Private Equity

Moonfare Secondary Fund

Open-endOpen

Min. Investment

€25,000

Mgmt Fee

1%

Domicile

Luxembourg

Moonfare Secondary Fund is an open-ended Luxembourg SCSp launched in 2024 that invests in private equity secondaries — LP-led portfolios of fund stakes bought at a discount and GP-led continuation vehicles — with a buyout focus on North America and Western Europe. Monthly subscriptions, quarterly gated redemptions after a lock-up, €25,000 minimum; Moonfare describes pricing as roughly 1% management fee and 10% carry. Fund size and performance are not published.

Semi-liquid
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