Alternative asset class for institutional and private investors

Thanks to the network we have built up over many years, we can offer our clients exclusive access to the private equity asset class, which proves its worth even in times of crisis and can potentially generate above-average returns.


The careful selection is a key
success factor

Private equity and venture capital are important components of corporate financing. We therefore provide our clients with access to selected private equity and venture capital companies.

Private equity generally refers to investments in the equity of unlisted companies. It is deliberately a temporary partnership in which investors generally expect an above-average return through realized sales proceeds.

This asset class has proven itself even in times of crisis and has generated attractive returns for our investors. We look for the best investment companies on the market for you and can draw on an excellent network and over 20 years of experience. This network is necessary because attractive investment companies generally do not accept new investors. To ensure the best possible and most efficient access to this asset class, we pool our investors, as the minimum investment amount required is usually several million euros or USD.


Private equity
What is that?

• Off-market equity business

• Counterpart to public/quoted equity (listed equity business)

• Temporary partnership (usually 4 - 7 years) with planned exit

• Investment in the equity of unlisted companies (acquisition of company shares) by financial investors

• Financial investors generally expect an above-average positive return at the end of the partnership through realized sales proceeds

✓ Private equity funds offer the opportunity to outperform the stock market

✓ As private equity funds invest in several companies, they have good risk diversification

✓ Inflation hedging

✓ There is no administrative effort for investors after the investment

✓ Partial or total loss of the invested capital possible (especially with venture capital funds)

✓ Stock market slump prevents IPO

✓ As a rule, there is no stock exchange listing

✓ Exchange rate risks for investments outside the eurozone.

✓ Illiquidity / no regulated secondary market

✓ Changes to existing laws / applicable tax law in Germany and abroad

✓ Lack of selection of suitable portfolio companies

✓ Stock market plans of portfolio companies do not work out


Characteristics of successful
Private equity funds

✓ Stable and outstanding performance („Performance“) over many years

✓ Sustainable and differentiated investment strategy , that has proven itself in different market phases

Aligned interests of investors and investment managers

✓ Substantial participation of the management with its own money in the fund (industry standard: 1 % of the fund volume)

Profit sharing (industry standard: 20 %)

✓ Some top quartile funds no longer accept new investors; existing investors are given preference when a new fund is launched

Key features compared to shares


A selection of our private equity and
Venture capital companies


CVC was founded in 1981 and is one of the most established private equity firms worldwide. With a focus on Europe/America, the investment focus is on medium-sized to large buy-out investments, mainly in Europe, which are characterized by a sound corporate strategy, a strong market position, a convincing product range, stable cash flow and attractive growth prospects.


Norvestor is one of the most established private equity companies in Scandinavia and invests in growth companies with the aim of achieving a leading market position in Scandinavia or internationally through organic growth or acquisitions. The focus is on the sectors of business and technology-based services, consumer markets, energy & marine as well as engineering and industry.


Charterhouse, based in London, was founded in 1934 and is one of the most established independent private equity firms in Europe. Charterhouse pursues a pan-European investment approach, which is jointly implemented by an experienced and international team. Based on its many years of investment expertise in the European economic area, Charterhouse makes selective and opportunity-oriented investments in companies in various countries and sectors.

Lexington Partners

Lexington Partners is one of the largest and most successful independent providers of secondary market and co-investment funds. Since 1990, the firm has launched over USD 52 billion of secondary market and co-investment funds. Lexington Partners has a global presence with offices in New York, Boston, Menlo Park, London, Hong Kong and Santiago and a network of advisors in Asia, Australia and Latin America.

Warburg Pincus

Warburg Pincus is one of the most established providers of private equity investments worldwide. The firm pursues a growth-oriented investment approach and invests globally in companies in the energy, financial services, industrials and services, healthcare and consumer goods, and technology, media & communications sectors. The firm was founded in 1966 and has roots dating back to 1939. Since its founding over 50 years ago, Warburg Pincus has invested more than 68 billion US dollars in over 825 companies in more than 40 countries worldwide. Headquartered in New York and with over 550 employees, the firm has offices in Berlin, Hong Kong, Houston, London, Mumbai, Beijing, San Francisco, Sao Paulo, Shanghai and Singapore.

Rivean Capital

Rivean Capital (formerly Gilde Buy Out Partners) is one of the most established and successful private equity companies focusing on investments in medium-sized companies in the DACH region and the Benelux countries. The company was founded in 1982 and has since invested in over 250 companies in various sectors. Rivean Capital has a team of more than 40 experienced investment professionals and is represented by its own offices in the core markets of Brussels, Frankfurt, Milan, Amsterdam and Zurich.


Private equity activities
compared to other asset classes

The Private Capital Quarterly Index (PrEQIn) shows the average long-term returns of private capital strategies in comparison to each other and to public indices. It is measured in basis points, with the change over time showing the proportional growth of an investment in a theoretical “average” private capital fund. The index is recalculated at a fixed point in time to allow a direct comparison of quarterly changes. This is underpinned by the detailed cash flow data that the PrEQIn tracks for over 10,000 private equity funds and represents the most accurate model available for long-term returns offered to investors in the industry as a whole.

You benefit from our experience and
our network

Thanks to the network we have built up over many years, we can offer our wealthy private and institutional clients exclusive access to attractive investment companies that can also prove themselves in times of crisis and potentially generate above-average returns.

We maintain long-standing business relationships with the most renowned private equity managers and have a very broad global network.

The aim is to enable the development of a portfolio of private equity and venture capital companies that is diversified according to financing phases, sectors, regions and years of issue.


Frequently asked questions

No, the HRK LUNIS private equity program is only open to professional investors.

Your contact at HRK LUNIS is available to answer any questions you may have on the subject of private equity.

No, HRK LUNIS offers the private equity funds that are best suited to investors.

Yes, a one-off subscription is possible, but is not recommended. This is because broad diversification makes sense in the private equity sector in particular. Although diversification is already ensured through the company portfolio, investments should be made over different years, different managers, stages of development, different strategies and across different regions and currencies in order to ensure broad diversification.

No. When the subscription is accepted, 25% of the subscription amount is usually called up and deposited in an escrow account. The first drawdowns from the fund are serviced from this escrow account before the next drawdown is made from the investors. The subsequent drawdowns are also expected to amount to 25% each. The timing of the calls depends on the fund's liquidity requirements and extends over approximately four years.

Distributions are dependent on the sale of companies by the fund and cannot be predicted. Experience has shown that the first returns are occasionally made after two years, sometimes after four years.

The term is generally ten years, with certain extension options. This is to ensure that the fund does not have to sell any companies towards the end of the planned term if the economic environment is not attractive for a sale.

The team at HRK LUNIS has been working in this field for decades and has built up an impressive network of the best managers.

HRK LUNIS can offer many different investment opportunities as part of its private equity program. These range from funds that invest in promising young companies in the technology or healthcare sectors to funds that invest in established companies that could become or have already become market leaders in their segment. Investments in global funds are just as possible as investments in funds that focus on individual continents, countries or regions.

Investments in private equity are generally characterized by an attractive risk/reward profile. However, as it is an entrepreneurial investment, there are also corresponding risks involved. Your contact at HRK LUNIS will be happy to explain the risk aspects to you.


Talk to us

Whether you want to invest in Europe, the USA or globally, whether you prefer to invest in established companies or want to participate in the success stories of the future, we have the right offer for you. We would be happy to give you an insight into this attractive investment universe. Talk to our experts.