Berlin-based private markets investment platform Moonfare has been given the green light to operate as an independent investment firm by the German financial regulator, clearing the path for it to broaden its portfolio management and advisory services across Europe.
The development means that the firm can now manage client portfolios directly and develop its products and services without relying on a third-party umbrella.
The licence from BaFin covers investment broking, investment advice and portfolio management, and is expected to support the continued expansion of its portfolio management and advisory capabilities across Europe.
Until now, parent company Moonfare operated as a tied agent under the umbrella of DHD Deutsche Haftungsdach GmbH, providing investment broking and investment advice in accordance with Section 2 (10) of the German Banking Act (KWG).
The authorisation places the firm under the same regulatory standards as established German investment firms, with direct BaFin oversight.
“Our ambition is to build the global operating system for private markets, the infrastructure that lets private investors and family offices run their entire private markets portfolio in one place,” said Steffen Pauls, founder and co-CEO of Moonfare.
“The BaFin licence is a defining step on that path. It reflects the maturity of our business and the standards our investors expect of us, and gives us the foundation to extend our offering into advice and portfolio management.”
Moonfare is currently manages over €3.9 billion in assets and operates in 24 countries, with offices in Berlin, New York, London, Singapore, Paris and Luxembourg.
