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Our secondary market. Your early liquidity.

Moonfare holds a semi-annual digital secondary market. This structured auction enables investors looking for early liquidity to sell their Moonfare allocations to other members or our institutional partner, Lexington Capital.

Secondary market is opened

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Features
and benefits

On demand

Moonfare has partnered with the world's largest and longest-running operator of private equity secondaries, Lexington Partners. Together, we bring institutional liquidity to the Moonfare platform.

Full service

Throughout the process, a Moonfare team member will be on standby to help you out. Our team closely monitors and manages the auction process to ensure an efficient and optimal outcome for all clients on our platform.

Digital, through and through

As part of our mission to digitise the private market landscape, Moonfare handles the auction process entirely on our platform. It's our way of revolutionising the way things are done; no cumbersome processes or paper-based methodologies here.

Semi-annual structured auction

Twice a year — in the spring and fall — we hold an auction for clients who want to sell their stakes in Moonfare’s private equity funds or acquire new stakes. Buyers in this auction process can also upsize their existing stakes.

Liquidity on the secondary market is not guaranteed.

Auction Timeline

Signalling

Ongoing

Moonfare clients may signal their interest to sell at any time. We'll make sure to take note of this and contact interested parties before the Moonfare secondary market auction starts to communicate next steps.

Confirming

Two weeks before the auction

Our clients confirm that they want to sell by providing the proportion and minimum reserve price for the stake they're selling. In turn, we'll record and safeguard this confidential information.

Auction and bidding

Four-week window

During the auction process, buyers can conduct due diligence and submit binding offers. While this is happening, no further action is needed from sellers.

Matching

One week after the auction closes

Moonfare matches buyers with sellers. We streamline this process so that we can give sellers the best price available.

Signing and wiring

Up to two weeks after matching

Moonfare digitally notifies relevant parties about the auction's outcome. We distribute the legal documents that govern the transactions and oversee the closing and transfer process.

Signalling
Confirming
Auction and bidding
Matching
Signing and wiring
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Frequently asked questions

How is the Net Asset Value (NAV) associated with a fund investment determined?
How are remaining capital commitments considered with respect to Net Asset Value (NAV)?
What kinds of fees should I expect?
What is the fee amount?
Is my identity made public to other buyers or sellers?
Are secondary market transactions reversible or cancellable?
When can I buy or sell interests?
How are offers to buy and sell matched in the Moonfare secondary market auction?
When do transactions settle? When should I expect to send or receive funds?
When does my order become binding in the Moonfare secondary market auction?