Under the partnership, through its digital platform Moonfare will provide access to private market strategies for Fidelity’s institutional and wholesale clients. Fidelity says it is responding to ‘increasing demand from its investors for alternative investment strategies.
As part of the agreement between Fidelity and Moonfare, which involves Fidelity taking a minority stake in the German platform, Christian Staub, Managing Director Europe at Fidelity International, will join Moonfare’s advisory committee. Fidelity is the first institutional investor to take an equity stake in Moonfare, which was founded in 2016.
‘Until now, private market funds have only been accessible to a limited group of investors,’ says Staub. ‘By partnering with Moonfare, our ambition is to democratize the asset class, providing access to the benefits alternative assets can offer with products carefully curated by an experienced team.’
According to Andrew McCaffery, Global Chief Investment Officer at Fidelity International, the asset manager chose to partner with Moonfare because of its emphasis on fund selection, low investment minimums starting from €50,000 and its ‘disruptive fee structure’. ‘At Fidelity, we have bold ambitions to build a broader alternatives capability in the coming years, spanning private markets, real assets and liquid alternative strategies,’ he added.