Portfolio Manager

Join the team rewriting the rules in private markets.

Moonfare delivers what few others can: the highly sought-after funds and hidden-gem investments that go beyond what most private banks offer. Every opportunity is subjected to a ruthless vetting process; the bar is unforgivingly high. The result? Institutional-quality portfolios for investors who demand more.

Our team combines finance veterans with talent from tech, consulting, law and industries you'd never expect. Headquartered in Berlin, we operate from eight offices across Europe, the US and Asia.

If you're ready to build what's next in private markets, let's talk.

Portfolio Manager

As Portfolio Manager, you will own the economic performance of Moonfare's Luxembourg fund vehicles, exercising binding investment decision-making authority for Moonfare's sub-threshold AIFM, maximising net returns to investors by optimising fund structures and costs, managing liquidity to reduce cash drag, and minimising the performance spread between our funds and the underlying opportunities they target.

Your success is measured by the net returns Moonfare delivers to its investors relative to the underlying opportunities, and by the institutional rigour with which you achieve them.

Your mandate spans three connected disciplines: Fund Performance & Economics, Fund Structuring & Investment Decisions, and SME Leadership for the Operations Engine. Reporting directly to the Managing Director Luxembourg and partnering closely with the Risk & Fund Reporting Manager, the Investment Team, and the Fund Operations Services team, this is an individual contributor role. We are looking for a Portfolio Manager who treats fiduciary discipline as the foundation that lets us move fast, not as a constraint that slows us down, and who is willing to push back when something doesn't add up

You Will:

• Fund Performance & Economics
  • Optimise the cost base of Moonfare's Luxembourg fund vehicles (audit, tax, administration, and other fund-level expenses), challenging service providers and rebalancing cost allocations to improve net returns to investors
  • Manage liquidity actively across the fund range to reduce cash drag, optimising capital call timing and short-term cash deployment within the limits set by the Investment Committee
  • Own the performance spread between Moonfare's funds and the underlying opportunities they target, identifying and closing structural sources of return leakage
  • Monitor overcommitment ratios as a performance lever, propose optimisation within IC-set limits, and consult to the Investment Committee on overcommitment strategy
  • Validate IRR, TVPI, and DPI from an economic perspective, ensuring reported performance accurately reflects each fund's investment lifecycle
    
    
• Fund Structuring & Investment Decisions
  • Exercise binding investment decision-making authority for Moonfare's sub-threshold AIFM, on the basis of recommendations provided by the Moonfare Investment Team in its capacity as sponsor and investment advisor
  • Contribute to fund structuring decisions in partnership with the Moonfare Investment Team, the Tax Lead and the Fund Legal team, bringing fund-mechanics expertise to vehicle choice, fee waterfall design, leverage policy, and the structural choices that shape long-term economics
  • Serve as a Member of the Board of Managers for Moonfare's General Partner (GP) entities, supporting the Chairman in deliberating and documenting investment-related resolutions in Luxembourg
  • Perform second-level controls over third-party AIFMs from an economic perspective, ensuring their portfolio actions and allocations align with Moonfare's investors' economic interests
    
    
• SME Leadership for the Operations Engine
• • Act as the "Expert Help Desk" for the global Operations Engine on complex Luxembourgish topics: SCSp governance, equalisation, fee mechanics, and the interplay between structures and economics
  • Partner with AI and R&D teams as the SME for fund economics, governing AI-augmented fund controlling solutions built by the Fund Operations Services team and ensuring they are grounded in regulatory and commercial reality, with clear human-in-the-loop checkpoints for binding decisions
  • Lead the portfolio-related sections of annual audits and regulatory filings (e.g., Annex IV, SFDR disclosures), in close coordination with the Risk & Fund Reporting Manager

The next Moonfarian:

• Experience: 5+ years in Private Equity fund management, secondaries, fund-of-funds, or Big 4 Transaction Services with a PE/RE focus. You have made decisions that moved fund-level economics, not just analysed them from the outside
• Education: Master's degree in Finance, Economics, or Law.
• Professional qualifications (CFA, CAIA) are a significant plus
• Technical depth: Fluent in fund waterfall mechanics, equalisation, capital call logic, NAV economics, fund expense allocation, and the interplay between fund structures and tax residency
• Regulatory fluency: Deep working knowledge of Luxembourg fund vehicles (SCSp, RAIF, SIF, SCS), AIFMD requirements, and the role of a Portfolio Management function within a Luxembourg AIFM. You can translate abstract regulatory principles into clear, defensible decisions
• Performance mindset: You think instinctively about net returns to investors and the levers that move them: cost structures, cash drag, fee leakage, and structural inefficiencies. You can quantify the impact of an optimisation before you propose it, and you understand that every basis point of cost or cash drag flows through to an investor's IRR
• Fiduciary mindset: You have served on (or supported) a Board of Managers or Investment Committee, and you instinctively distinguish between rubber-stamping and genuine deliberation. You design scalable governance processes rather than accumulating one-off workarounds, and you treat documentation as a fiduciary duty, not administrative overhead
• Vendor and delegate oversight: Proven track record holding service providers and third-party AIFMs to high standards through structured governance, without paralysing the engine
• Compliant creativity: You treat regulation as a design constraint to engineer around, not a wall to hide behind. You find compliant paths to better economics rather than reflexively saying no

If you feel you do not meet all of the requirements, we still encourage you to apply!

Invest in Yourself:

• Ownership and Impact: you are empowered to bring ideas, make decisions, and see your work directly contribute to Moonfare's success.
• Transparent Environment: we believe in open communication. You will receive regular updates on company strategy, performance against our KPIs, and key business decisions.
• Personal Growth: we support your development with an individual growth budget of €1,500 or 2% of your base salary (whichever is higher).
• Relax and Recharge: you start with 26 vacation days and receive one additional day for each year of tenure, up to a maximum of 30 days.
• Daily Lunch: enjoy a free lunch every day in our Luxembourg office, using our Sodexo Vouchers
• A Culture of Excellence: join a team of ambitious, smart, and committed professionals who are passionate about revolutionising private market investing.

Our Values:

• Client-Centric Focus: our clients come first, Moonfare comes second, and we prioritise ourselves third. Putting clients first means creating value for them is essential. Placing Moonfare second signifies that our individual professional future at Moonfare depends on the company's commercial success. Prioritising ourselves third reflects our humility in putting clients and Moonfare before personal interests.
• Commitment to Excellence: we pursue excellence and honour our promises. We hold ourselves to the highest standards, taking responsibility for our failures, and celebrating our successes. We commit to deadlines and stick to them, and we learn from our mistakes.
• Win together: we are here to win and to celebrate our collective achievements. We are mission-focused and think and act like owners. We exemplify the attitude we expect, and each of us commits to do what it takes to succeed.
• Growth and Merit: we foster personal growth, but each of us earns our place as a Moonfarian through merit. We hire, retain, and develop exceptional people and invest in empowering them to excel. We must all earn our place at the table every day.

We understand the important role that diversity plays in our success. Different backgrounds, experiences and ideas push us further and raise the bar. We're committed to developing an inclusive and safe culture where everyone — regardless of colour, race, religion, sex, origin, sexuality, disability, marital status, citizenship or gender identity — knows that they are an integral part of the team and can bring their full potential to their work.

*Minimum investments vary according to jurisdiction.