The Satellite Newsletter #52

Dear Valued Member of the Moonfare Network,

Welcome back to the Satellite.

Bonus season has arrived. After a strong year in trading and M&A, compensation is trending higher, in some professions by 10–25%, according to a report from Johnson Associates.

A bonus, or any form of episodic capital, calls for a strategic response. So what would an endowment or pension fund do with a sudden windfall? Institutions deploy new capital according to a disciplined playbook built on long-term compounding. Applied consistently, that same mindset can potentially help turn an annual payout into lasting wealth.

Focus on discipline is also playing out across private markets more broadly.

“As the industry matures, LPs are increasingly selective about who within the asset class can truly deliver,” Bain & Company writes in its closely watched outlook. We've compiled our five takeaways from the report that investors should pay particular attention to.

Happy reading!

Your Moonfare team

How to invest your bonus like a multi-billion fund

One of the core strategies is separating capital by function, not by amount. Institutions typically divide new capital into three distinct buckets before making any allocation decisions.

Learn more


Five things we’ve learned from Bain’s private equity outlook

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AI’s private market moment is here - but who will come out on top?

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Investing in evergreen funds? Here’s how they can fit in your portfolio.

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Moonfare closes its second co-investment fund above target

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