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Access unique avenues 
with co-investments.

Invest directly in exciting companies alongside the world’s leading fund managers.

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Leverage our global PE network to access exclusive deals

Moonfare maintains close relationships with over 250 top-tier fund managers which enables us to curate a selection of high-quality co-investment deals rarely available elsewhere.

Lower fees than traditional 
private equity

Moonfare sources co-investment deals from GPs on a lower fee- and 
carried interest-basis, improving IRR potential and providing an opportunity for a shorter time to net positive cash flow.

Potentially higher returns

Co-investment funds usually have a shorter capital deployment phase and can outperform traditional PE funds in the long term due to a reduced fee structure and the growth potential of underlying companies¹.

How does co-investing work?

A co-investment is where an investor directly backs a portfolio company alongside a private equity sponsor.

As well as providing the co-investor with more oversight and better terms, co-investments also reduce the blind-pool risk often associated with traditional private equity, given the investor invests in individual deals rather than in a blind-pool fund where a private equity sponsor can decide on the investments at its discretion.

Learn more about this unique way to invest from Sanjay Gupta, our Chief Investment Officer, in the video.

Meet Moonfare’s 
Co-Investment  Committee

The co-investment team is led by Sanjay Gupta, a seasoned private equity investor with more than 20 years of private experience. The investment committee includes two outside members and is made up of industry heavyweights who have held leadership roles at KKR, Permira, Union Bancaire Privée, Apax, Lehman Brothers and other leading firms.

Sanjay Gupta

Former Head of Private Equity Investing at UBP

Sanjay Gupta

Chief Investment Officer at Moonfare
Former Head of Private Equity Investing at Union Bancaire Privée
Former Head of US Private Equity at Caisse de dépôt et placement du Québec
Former Executive Director, Head of US Private Equity at Adveq Management AG

Dr. Steffen Pauls

Former Managing Director at KKR

Dr. Steffen Pauls

CEO and Founder at Moonfare
Former Managing Director at KKR

Magnus Grufman

Former Investor at Apax Partners

Magnus Grufman

Chief Operating Officer at Moonfare
Former Investor at Apax Partners
Former Director of Corporate Strategy at Cole Haan

Thomas Jetter

Former Senior Partner at Permira

Thomas Jetter

Founding Partner at Digital+ Partners
Former Senior Partner at Permira
Former Senior Engagement Manager at McKinsey & Co

Frederick Goltz

Former Senior Partner at KKR

Frederick Goltz

Founder at Hattington Capital
Former Senior Partner at KKR
Combined years PE experience

100+

Return on capital

>2x

Fund Investments

180

Transactions

€6bn+

Our debut fund: a €58 million achievement

Our Co-Investment Fund (MCF I) closed 16% above target in under 12 months
All deals within the portfolio are alongside top-tier private equity sponsors
Moonfare democratised access to sought-after co-investments for eligible investors
320 investors in 21 countries, including many industry professionals, invested in MCF I
Read the full Press Release

Our investment team

Get in touch

Philip Meschke

Head of Investments

Philip is Moonfare’s Head of Investments and oversees the Firm’s day-to-day investment activities. Philip brings over a decade of experience within private markets. Philip most recently worked at StepStone Group in London, focusing on fund investments, secondaries and co-investments. Philip was a core member of the European investment team where he helped build out the Firm’s European private equity program and relationships with General Partners and investors. He also represented the Firm on several LP advisory boards. Philip started his career at Hamilton Lane in London, where he covered European private equity investments, having graduated with a degree in Accounting and Finance from the London School of Economics.

Philip Meschke

Head of Investments
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Pavel Ermoline

Investment Director

Pavel is an Investment Director at Moonfare. He has 8 years of investing experience in Private Equity, Credit, and Real Estate. He previously worked in the Private Equity division of a Swiss Private Bank and later participated in the set-up and growth of Hermance Capital Partners, an asset management firm backed by a group of Swiss Private Banks where he carried out due diligence on funds and co-investments. Pavel holds a MSc in Financial Engineering & Risk Management from University of Lausanne and a BSc in Business from Université de Genève.

Pavel Ermoline

Investment Director
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Olivia Kebble

Associate Principal

Olivia is an Investment Manager at Moonfare. Previously, she worked as an Associate at the Townsend Group, carrying out due diligence on Infrastructure and Private Equity funds, secondaries, and co-investments on behalf of large institutional investors. She started her career as an analyst at Aon, primarily responsible for underwriting closed-ended private market funds. Olivia holds a BSc (Hons) in Mathematics with Statistics from the University of Nottingham and is a CFA charter holder.

Olivia Kebble

Associate Principal
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Arielle Sheh

Investment Manager

Arielle Sheh is an Investment Manager at Moonfare. Before joining Moonfare in July 2020, Arielle gained relevant experience in Venture Capital and Finance at Rocket Internet SE. She holds a BSc (Hons) in Economics and Management from the Catholic University of Milan and an MSc in Strategy and Digital Business from ESCP Business School. During her studies, Arielle worked in finance and business development at different startups based in Berlin and Milan.

Arielle Sheh

Investment Manager
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Lawrence Terracciano

Investment Manager

Lawrence is an Investment Manager at Moonfare. Prior to joining Moonfare, he worked at Headway Capital Partners as a Senior Associate, specializing in the due diligence and execution of Private Equity secondaries and independent sponsor co-investment transactions. He began his career as an Analyst at the EBRD, focusing on providing financing solutions for SMEs in emerging markets. Lawrence holds a BSc in Economics from the University of Essex and an MSc in Management from Imperial College Business School.

Lawrence Terracciano

Investment Manager
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Pietro Di Mario

Investment Associate

Pietro is an Investment Associate at Moonfare. Prior to joining Moonfare, Pietro worked as an Investment Analyst at Argo Partners, focusing on buyouts of small-cap companies in Italy, and previously gained relevant experience at Tokos Multi-Family Office. Pietro holds a BSc degree in International Economics and Finance from Bocconi University in Milan and is a CAIA charter holder.

Pietro Di Mario

Investment Associate
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Eugenio Molinatti

Investment Associate

Eugenio is an Investment Associate at Moonfare. Before joining Moonfare, he worked as a Junior Analyst at ArchiMed, focusing on healthcare private equity, and previously interned at Deloitte and Houlihan Lokey. Eugenio holds a BSc degree in Business and Management from Turin University and a MSc degree in Management from ESCP Business School.

Eugenio Molinatti

Investment Associate
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Francois- Joseph Oculi

Investment Analyst

Francois Joseph is an Investment Analyst at Moonfare. Prior to joining Moonfare in April 2024, Francois-Joseph started his career in 2022 as an Investment Banking Coverage Analyst at Credit Agricole CIB in London. He then completed an internship at Ardian in the Secondaries & Primaries team in 2023. He holds a BSc in Economics from University of Poitiers and an MSc in Corporate Finance from Neoma Business School. During his studies, Francois-Joseph also completed an internship at HSBC as Credit Analyst in Paris.

Francois- Joseph Oculi

Investment Analyst

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¹ Minimum investment may vary by country and local regulation.
² Source: McKinsey "Private Markets Annual Review 2022"
³ Past performance is no guarantee of future returns.