ClickCease

Explore the potential of private equity secondaries.

Moonfare’s proprietary strategy on secondaries offers access to a well-rounded portfolio of secondary private equity investments, tailored for those seeking diversification and potentially more consistent returns.

Create your free account

Invest alongside experts

With extensive secondaries experience and access to high-quality fund managers, our team only targets the best deals.

Immediate diversification

Invest in a multitude of underlying companies across different geographies, sectors and vintages.

Faster distributions

Secondaries funds invest later in an asset’s life cycle, resulting in potentially faster distributions than traditional private equity.

Steady returns with potentially less volatility.

Median returns from secondaries have outperformed those of all other alternative asset classes, and with significantly lower return dispersion.1
Strong returns across quartiles
Net IRR dispersion, vintage years 2000-2019
5%-25%
2nd Quartile
Median
3rd Quartile
75%-95%
Source: Cambridge Associates, Bain & Company  |  Note: As of Q2 2023
1 Past performance is not indicative of future returns.

Our unique approach to secondaries

Our secondaries strategy seeks to generate lower risk, shorter duration returns compared to traditional private equity, while capitalising on our long-standing relationships with top-tier fund managers.

Deal type

Balance of diverse secondary LP portfolios and GP-led continuation vehicles.

Geography

Global exposure with a focus on North America and Europe.

Underlying investment type

Emphasis on buyouts with exposure to a range
of other asset classes.

Secondaries in action: 
Project Athena

Learn how Moonfare’s secondaries strategy works in practice through a real-world example.

The company

US-based "Athena" helps thousands of the world's leading brands better understand their consumers so they can unlock business growth and outpace the competition.

Why we like it

"Athena" became a market leader through superior technology, advanced analytics and cross-industry data. It has a diverse customer base, resulting in low churn and high revenue retention.

The Deal

Structured as a GP-led secondary transaction, Moonfare invested in the single asset continuation vehicle managed by a leading U.S. middle-market private equity firm.

Moonfare’s Edge

We sourced the deal through existing relationships with top-tier intermediaries who coordinated the transaction, while tapping into our network to inform the investment process.

Matching secondaries with the flexibility of a semi-liquid, open-ended fund.

Our secondaries strategy combines simplicity with diversified exposure, all through a single ticket.2

Easier to manage

Commitments are paid upfront, and investors don’t have to keep track of multiple capital calls and distribution notices.

Compounding effect

Secondaries returns have the potential to be reinvested sooner in a semi-liquid, open-ended fund, which could lead to greater compounded growth.

Inherent liquidity

Semi-liquid, open-ended funds may provide investors with greater liquidity compared to traditional closed-end funds.3
2 Liquidity is not guaranteed.
3 Redemptions are not guaranteed, may not be eligible to all investors and are subject to demand and to Board approval.
Invest in private equity, now from just $25k.
Learn more
Invest in private equity, now from just $70k.
Learn more

Meet the people behind the scenes

Combined years PE experience

100+

Return on capital

>2x

Transactions

€6bn+

A closer look at
secondaries

Private equity secondaries involve selling or buying individual assets or portfolios of investments before the end of the fund's cycle. In a nutshell, secondaries come in two forms:

LP-led transactions

allow existing investors or limited partners (LPs) to sell their stakes to other LPs, typically at a discount to the initial purchase price.

GP-led transactions

involve fund managers or general partners (GPs) forming a ‘continuation’ vehicle, where they roll over their best assets. This allows them to create additional value and benefit from future upside.

Learn the ins and outs of private equity secondaries.

Boosted by rising demand for liquidity and portfolio management tools, plus growing investor interest, the secondaries market has grown strongly over the past few years.4,5 And the stage is set for further expansion.

Find out more
4 https://www.jefferies.com/wp-content/uploads/sites/4/2024/01/Jefferies-Global-Secondary-Market-Review-January-2024.pdf
5 https://www.lazard.com/research-insights/lazard-2023-secondary-market-report/

Resources

Moonfare’s investment team has compiled several of our benchmark white papers, articles and other resources for your review.

Frequently asked questions

What are secondaries? And what is the difference between LP-led and GP-led transactions?
What are the benefits of secondaries?
What differentiates Moonfare Secondary Strategy?
How do you select the underlying assets? What does your asset allocation look like?
How does my investment in Moonfare Secondary Strategy work?
What is the minimum investment?
When can I invest and when can I redeem my investment?

Frequently asked questions

What are secondaries?
Who is eligible to invest in secondaries funds?
What are the benefits of secondaries?
What are the risks associated with secondaries?
What differentiates Moonfare Secondary Strategy?
How do you select the underlying assets? What does your asset allocation look like?
How does an investment in Moonfare Secondary Strategy work?
What is the minimum investment?
When can I invest and when can I redeem my investment?

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.