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Private Equity FundInvests through funds, not into companiesActive · deal in last 18 monthsLAST VERIFIED Oct 2026 · 10 SOURCES

Munich Private Equity

Also known as MPE, Munich Private Equity Funds AG, RWB

Oberhaching-based authorised KVG (formerly RWB) offering private equity funds of funds to retail investors since 1999; 160,000+ investment contracts and €2.4bn invested by clients.

Oberhaching (Munich) retail private equity fund-of-funds house formerly branded RWB (rwb-ag.de now redirects to munich-pe.com). Its sister company Munich Private Equity Partners (MPEP) runs the group's institutional fund-of-funds programmes.

HEADQUARTERS
Oberhaching, Germany
FOUNDED
1999
AUM
—
OUTSIDE CAPITAL
Yes
TEAM LISTED
11 people

Focus

STAGES
GrowthBuyout
SECTORS
Industrial & ManufacturingSoftware & SaaSConsumer & E-commerceHealthTech
ASSET MIX
Funds (as LP)Private equity
GEOGRAPHY
North AmericaEurope

Investment arms & vehicles

  • Munich Private Equity Partners (MPEP)
    Sister company; institutional fund-of-funds manager investing solely in primary lower mid-market buyout funds in Europe and North America (founded 2011)

Overview

Munich Private Equity Funds AG, based at Keltenring 5 in Oberhaching near Munich, is a BaFin-authorised Kapitalverwaltungsgesellschaft that has offered private equity funds of funds to private investors since 1999, from €5,000 or €50 a month. Its legacy funds carry the RWB name (RWB International, RWB Secondary, RWB China, RWB India, RWB Germany), and rwb-ag.de now redirects to munich-pe.com. It says clients have invested €2.4bn through more than 160,000 investment contracts, in 280+ target-fund investments, and have received more than €1.7bn in distributions. Fund selection draws on its sister company Munich Private Equity Partners (MPEP), an institutional fund-of-funds manager focused on lower mid-market buyout funds; the group has about 150 staff in Oberhaching, Luxembourg and Innsbruck.

Investment thesis

Invests pooled private-investor capital in experienced, established lower mid-market private equity managers in North America and Europe with strong prior results, operational expertise and significant own commitments, in parallel with MPEP's institutional programmes.

PORTFOLIO (15)

  • Flix SE (indirect)NOTABLE
    Mobility & Logistics · Exited
  • Belron (Carglass) (indirect)NOTABLE
    Mobility & Logistics
  • Schleich (indirect)NOTABLE
    Consumer & E-commerce · Exited
  • Accel-KKR (target fund manager)
    Software & SaaS
  • Keensight Capital (target fund manager)
    Software & SaaS
  • Arbor Investments (target fund manager)
    Food & Agriculture
  • Industrial Growth Partners (target fund manager)
    Industrial & Manufacturing
  • Hg (target fund manager)
    Software & SaaS
  • Main Capital Partners (target fund manager)
    Software & SaaS
  • VWE Automotive (indirect)
    Software & SaaS · since 2026
  • Verallia (indirect)
    Industrial & Manufacturing · Exited
  • Skillable (indirect)
    Education
  • Wback (indirect)
    Food & Agriculture · Exited
  • Seequent (indirect)
    Software & SaaS · Exited
  • Texon (indirect)
    Consumer & E-commerce · Exited

People

  • Norman Lemke
    Vorstand & Co-founder (co-owner) · source
  • Sunanda Tajhya
    Vorstand · source
  • Armin Prokscha
    Vorstand · source
  • Nico Auel
    Vorstand · source
  • Prof. Dr. Walter Blancke
    Chairman of the Supervisory Board · source
  • Birgit Schmolmüller
    Managing Director, MPE Austria · source
  • David Schäfer
    Managing Director, MPEP · source
  • Christopher Bär
    Managing Director, MPEP · source
  • Hans-Christian Moritz
    Managing Director, MPEP · source
  • Liliane Armel
    Managing Director, MPEP · source
  • Andrew Lake
    Managing Director, MPEP · source

Links

Frequently asked questions

Munich Private Equity is a private equity fund based in Oberhaching, Germany, founded in 1999.

Munich Private Equity does not primarily put its own money into private companies. It also commits capital to third-party funds as an LP.

Munich Private Equity invests at Growth and Buyout stages in Industrial & Manufacturing, Software & SaaS, Consumer & E-commerce and HealthTech.

Key people at Munich Private Equity include Norman Lemke (Vorstand & Co-founder (co-owner)), Sunanda Tajhya (Vorstand), Armin Prokscha (Vorstand) and Nico Auel (Vorstand).

Munich Private Equity's investments include Flix SE (indirect), Belron (Carglass) (indirect), Schleich (indirect), Accel-KKR (target fund manager), Keensight Capital (target fund manager), Arbor Investments (target fund manager), Industrial Growth Partners (target fund manager) and Hg (target fund manager), among others.

The most recent publicly reported investment by Munich Private Equity is VWE Automotive (indirect, via Main Capital Partners) (Majority buyout by target-fund manager), announced in Oct 2026.

Yes. Munich Private Equity manages capital from outside investors.