

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.
3
€3.8B
200
2016
Private equity feeder funds, co-investments, secondaries, diversified portfolios
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.
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)

Founder, Chairman & Co-CEO

Co-CEO & Managing Director

Head of Private Equity

Chief Operating Officer
Steffen Pauls, Heinrich von Liechtenstein and Alexander Argyros launch Moonfare to open institutional PE funds to individuals.
Assets pass €1 billion; $125 million Series C led by Insight Partners, following Fidelity International’s Series B.
Assets reach €3 billion; Moonfare expands from feeder funds into its own Co-Investment, Secondary and Core fund series.
Co-Investment Fund II closes at $83 million in February; BaFin authorisation as an independent investment firm in May.


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.


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.


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.
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