Fundraising platform Moonfare launches secondaries product

Moonfare already has strong ties to the secondaries market, having partnered with Lexington in 2021 to help users sell their fund stakes.

Moonfare, the fundraising platform enabling private wealth investors to access alternative investments, has launched a secondaries vehicle.

The Berlin-headquartered company registered Moonfare Secondary Fund in Luxembourg on 12 March, according to public filings.

It’s unclear whether the fund will offer direct exposure to secondaries by participating in LP-led and GP-led transactions or indirect exposure via a diversified portfolio of secondaries funds. The platform already offers the latter across several strategies, including buyouts, growth and VC, according to its website.

“Secondaries are an increasingly important part of the private markets ecosystem, and deals will likely continue to grow at an even faster pace in the next few years,” a source with knowledge of the platform told Secondaries Investor. “There is a compelling investment case for managers with the necessary expertise.”

Moonfare declined to comment.

Moonfare – which offers exposure to portfolio products from as little as €50,000 – collected €70 million for its 2020-vintage Buyout Portfolio I, which backed funds such as EQT IX, KKR Asian Fund IV, Ares Corporate Opportunities Fund V and AlpInvest Co-Investment Fund VIII, affiliate title Private Equity International reported in 2022. The platform was seeking €100 million for a successor, PEI noted at the time.

Moonfare already has strong ties to the secondaries market. In 2021, the platform partnered with Lexington Partners to arrange for users to sell their fund stakes to Lexington and other investors on the platform through a formal process held twice a year.

Some of the firms available on Moonfare’s platform – such as AlpInvest and Ares Management – also boast secondaries strategies that could theoretically be offered in a secondaries portfolio product.

Secondaries participants more broadly are increasingly keen to capture high-net-worth appetites for the asset class. Coller Capital, for example, is set to launch an evergreen private equity secondaries fund targeting individual investors, Secondaries Investor reported in February. In October, Pantheon filed to register a dedicated private credit secondaries-focused investment strategy dedicated to the US private wealth market.