Moonfare, Lexington launch digital secondaries platform

The new service complements the core platform, launched by a former KKR executive in 2016, which allows smaller, individual investors to access private equity funds via feeder funds operated by Moonfare.

"The platform has roughly 1,000 investors who will now be able to put their fund stakes up for sale through the Moonfare Secondary Market," said a Moonfare spokesperson. "The real benefit is to smaller investors who wouldn't ordinarily have access to this liquidity." 

As one of the largest global secondaries investors, Lexington will take part as a buyer of stakes in Moonfare funds. This will take place in a formal process twice per year, allowing Moonfare clients to trade their fund stakes for cash, with Lexington and other platform members as potential buyers. In the event a Moonfare investor wishes to sell their fund stake outside of the liquidity process, Moonfare will work with the client to prepare an offer for Lexington to review.

Until now, Moonfare clients could only indicate interest digitally on the platform to participate as a secondary buyer or seller, while Lexington's partnership is designed to offer a higher level of certainty and liquidity to the market.  

"We are excited to sign this partnership with Moonfare, which will make Lexington an important liquidity provider to individual investors, an underserved portion of the market," said Pål Ristvedt from Lexington.

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• Topics
• Secondaries
• Lexington Partners
• Secondaries