FundsPrivate Equity

MPE Direct Return 6

Managed by Munich Private Equity Funds

MPE Direct Return 6

Managed by

Munich Private Equity Funds

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MPE Direct Return 6 is Munich Private Equity’s shorter-cycle fund-of-funds, now closed: a BaFin-regulated German closed-end Investment-KG that invests in private equity funds already substantially invested, so distributions can begin from 2029 with the basic term ending in 2035. Entry costs 9.9%, running costs 2.14% a year, performance fee above a 5% hurdle; KID moderate scenario 3.8% a year net, risk 6/7. No early exit.

Key Statistics

Target Return

6.0%

Launch Year

2024

Availability

Closed

Structure

German Closed-end Investment KG

Product Category

Closed-end

Domicile

Germany

GP Type

Multi

Liquidity Level

Low (5+ years)

Management Fee

2.14%

Carry

Performance fee above 5% p.a. hurdle on paid-in capital

Hurdle Rate

High Water Mark

ISIN

DE000A40LA56

Currencies

EUR

Investor Eligibility

Retail

Liquidity Options

No redemption

Highlights

Later-stage buyout funds for earlier distributions (payouts from 2029)

Basic term to 31 Dec 2035; 11-year recommended holding

Entry costs 9.9%; running costs 2.14% p.a.; performance fee over 5% hurdle

KID moderate scenario 3.8% p.a., optimistic 6.0%, stress -3.9%

Closed to new investors; no early exit

Key Information Document (KID) – EU Funds

KID Risk Indicator

6 out of 7

Low risk / Low rewardHigh risk / High reward

Annual Returns (KID Scenarios)

Stressed

-3.93%

Moderate

3.83%

Favorable

5.99%

Average Total Cost Level (KID)

2.9%

Allocations

Investment Strategy

Fund of funds

Later-stage buyout funds

Industry Focus

Buyout

Growth

Portfolio Composition

Yes

Information about fund

Later-Stage Funds for Earlier Distributions

MPE Direct Return 6 is Munich Private Equity’s shorter-cycle sibling to the International series, now closed to new investors. Instead of committing to new funds at the start of their life, the “Direct Return” concept invests in private equity funds that are already substantially invested, so distributions start earlier: the payout phase begins on 1 January 2029 and the basic term ends on 31 December 2035, an 11-year horizon against 15 for International 9. It is a German closed-end Investment-KG under BaFin supervision with the same lower mid-market buyout focus in North America and Europe.

Key Figures (KID, 1 January 2025)

Status

Closed

No longer open to new investors

Payouts From

2029

Basic term to 31 Dec 2035

Entry Costs

9.9%

One-off

Running Costs

2.14% p.a.

+0.24% transaction costs

Performance Fee

> 5% p.a.

Hurdle on paid-in capital

KID Moderate

3.8% p.a.

Optimistic 6.0%, stress -3.9%

Costs and Scenarios

Costs as set out in the January 2025 KID: 9.9% one-off entry costs, 2.14% a year in management and running costs, 0.24% transaction costs and a performance fee once returns exceed 5% a year on paid-in capital. The moderate scenario is 3.8% a year net over the 11-year holding period, the optimistic case 6.0% and the stress case -3.9%, with risk class 6 of 7. There is no early exit.