KJL Capital AG

What KJL Capital AG does

KJL Capital AG is a Frankfurt am Main-based investment boutique founded in 2015 that develops and distributes alternative investment strategies for high-net-worth individuals and institutional investors. The firm operates with a five-person team under a BaFin-regulated liability umbrella (BN & Partners Capital AG) and outsources fund administration to HANSAINVEST, custody to DONNER & REUSCHEL, and market data infrastructure to Refinitiv (LSEG). Its product lineup comprises three UCITS funds — QUANTIVE Absolute Return (defensive multi-asset using option overlays), AI Global Opportunities (ML-driven stock selection and tactical allocation built on partner Ultramarin Capital's quantitative models), and QUINT Global Opportunities (flexible equity strategy focused on disruptive technology stocks) — alongside bespoke individual mandates for institutional clients and family offices.

The firm's investment approach combines quantitative portfolio construction, option-based hedging, and machine learning signals to construct asymmetric risk-return profiles. AI capabilities are delivered through a product partnership with Ultramarin Capital GmbH (Berlin), whose holistic machine learning model forecasts monthly excess returns across the global equity universe and integrates with a proprietary 'fast-and-slow' tactical allocation layer that provides daily equity exposure signals via index futures. ESG filters are sourced from Sustainalytics (Morningstar). Validated performance: QUINT Global Opportunities delivered a Sharpe ratio of 2.90 vs 0.74 benchmark since inception (Nov 2021), max drawdown of approximately 6% vs category average 14.45%, and received TIAM Fundresearch Note 1 (Dec 2025), Citywire Rank 2 in absolute return EUR (2025), and FONDS professionell best crisis manager 2022.

The business model is asset-based management and performance fees on UCITS fund AUM plus all-in-fee individual mandates. Management fees range from 0.15% p.a. (QUINT S-tranche, EUR 500K minimum) to 1.05% p.a. (QUANTIVE V-tranche retail), with performance fees of 10%-20% on positive performance above hurdle rates and high-water marks. Distribution combines direct sales (primarily for mandates via Managing Partner Markus Lemkis), platform partnerships (FONDSNET with up to 100% agio discount, Fondsdepot Bank, V-BANK), and BN & Partners' regulated distribution reach. The company explicitly positions itself as bank-independent and owner-managed, free from sales-target conflicts of interest, with a founding entrepreneur family serving as anchor investor.

Name

KJL Capital AG

Legal name

KJL Capital AG

Website

https://kjl-capital.de

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

KJL Capital AG is a Frankfurt-based investment boutique founded in 2015 operating three UCITS alternative strategy funds and bespoke mandates for high-net-worth and institutional clients, using quantitative models, option overlays, and partner-sourced machine learning signals under a BaFin liability umbrella structure.

Ownership category

akta.pro rank

Headquarters

HQ city

Frankfurt am Main

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Fees (QUINT Global Opportunities): Management fee charged on assets under management: 0.15% p.a. for institutional S-tranche (minimum investment EUR 500,000), 0.75% p.a. for retail R-tranche.
2. Management Fees (AI Global Opportunities): Management fee charged on assets under management: 0.90% p.a. for AI Global Opportunities fund.
3. Management Fees (QUANTIVE Absolute Return): Management fee charged on assets under management: 1.00% p.a. for I-tranche (minimum investment EUR 10,000), 1.05% p.a. for V-tranche.
4. Performance Fees: Performance fees are charged on positive performance above hurdle rates. QUINT Global Opportunities: 15% of positive performance above 3.5% hurdle rate, max 10% with high-water mark. AI Global Opportunities: 20% with 7% hurdle rate, high-water mark. QUANTIVE Absolute Return: 10% (I-tranche) and 15% (V-tranche) with 5% hurdle rate, 5-year high-water mark.
5. Individual Mandates Management: KJL Capital serves institutional investors and high-net-worth individuals within individual mandate frameworks. Strategies are developed in close dialogue with clients, using an all-in-fee model for maximum transparency and cost efficiency. Revenue generated through management and performance fees on bespoke portfolio strategies.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

KJL Capital AG is a Frankfurt-based, owner-managed investment boutique that develops and distributes alternative investment strategies through UCITS-compliant funds (QUANTIVE Absolute Return, AI Global Opportunities, QUINT Global Opportunities) and bespoke individual mandates. The firm applies quantitative models and machine learning–based stock selection for portfolio construction, risk management, and construction of asymmetric risk-return profiles. It serves institutional investors and high-net-worth individuals on a bank-independent basis, operating under the liability umbrella of BN & Partners Capital AG with HANSAINVEST as fund administrator and DONNER & REUSCHEL as custodian.

Product overview

KJL Capital AG is an investment boutique offering a portfolio of alternative investment funds and individual mandate services. The core product lineup includes: QUANTIVE Absolute Return (defensive multi-asset fund with option strategies), AI Global Opportunities (balanced fund with machine learning-driven stock selection via Ultramarin partnership), QUINT Global Opportunities (flexible equity fund focusing on disruptive technology stocks), and Individual Mandates (customized asset management for institutional and private clients). The funds operate under the liability umbrella of BN & Partners Capital AG with HANSAINVEST as the KVG and DONNER & REUSCHEL as custodian.

Differentiator

Problem solved

Functional benefit

Brands

• QUANTIVE: Absolute return investment fund focused on stable returns at low risk levels using option strategies and quantitative models
• QUINT
• AI Global Opportunities

Products and services

• QUANTIVE Absolute Return
• AI Global Opportunities
• QUINT Global Opportunities
• Individual Mandates

Quantifiable outcome

• QUINT Global Opportunities since inception (11/2021 to 2025): Performance 16.33% (S-tranche) vs. 30.72% benchmark; Volatility 4.88 vs. 5.91 benchmark; Max Drawdown -3.70% vs. -5.93% benchmark; Sharpe Ratio 2.90 vs. 0.74 benchmark
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Ultramarin Capital GmbHcoreTechnology or IntegrationProduct cooperation with Ultramarin Capital GmbH (Berlin-based) for AI-based investment strategies. Ultramarin develops quantitative investment strategies based on machine learning technologies and implements them through Ultramarin Capital GmbH. The AI Global Opportunities fund is built on Ultramarin's holistic AI stock selection model. Julien Florian Jensen, co-founder and chairman of KJL Capital's supervisory board, is the managing director of Ultramarin Capital. The partnership is a core product relationship.
• BN & Partners Capital AGcoreChannel Partner/ Reseller/ DistributorBN & Partners Capital AG serves as the liability umbrella (Haftungsdach) for KJL Capital AG. KJL Capital AG is a contractually bound intermediary (vertraglich gebundener Vermittler) of BN & Partners Capital AG pursuant to section 3 para. 2 WpIG. BN & Partners holds BaFin authorization for investment advice and brokerage services. All investment advice and brokerage are provided on behalf of, in the name of, for the account and under the liability of BN & Partners Capital AG.
• HANSAINVEST Hanseatische Investment-GmbHcoreChannel Partner/ Reseller/ DistributorHANSAINVEST serves as the capital management company (Service-KVG) for KJL Capital's funds. Founded in 1969, it is part of SIGNAL IDUNA Group. Headquartered in Hamburg with an office in Frankfurt, it also has a subsidiary in Luxembourg. It administers approximately EUR 42 billion across nearly 260 public funds and 120 special funds with 200 employees. Named 'Best Service-KVG' four consecutive years by Private Banker magazine.
• DONNER & REUSCHEL AGcoreChannel Partner/ Reseller/ DistributorDONNER & REUSCHEL AG serves as the custodian bank (Verwahrstelle) for KJL Capital's funds. Based in Hamburg and Munich, it is one of Germany's oldest banking houses, belonging to the Signal Iduna Group. It specializes in private banking, institutional financial services, asset management, and support for independent asset managers. Balance sheet of EUR 4.5 billion at end of 2019.
• Refinitiv (LSEG)coreTechnology or IntegrationRefinitiv, an LSEG (London Stock Exchange Group) company, serves as the data and technology partner for KJL Capital. It is one of the world's largest providers of financial market data and infrastructure, with revenues of USD 6.25 billion, supporting more than 40,000 customers and 400,000 end users in 190 countries. Provides financial market data, technology infrastructure, and analytics capabilities.
• FONDSNET VermögensberatungminorChannel Partner/ Reseller/ DistributorFONDSNET is a distribution partner enabling investors to purchase QUANTIVE Absolute Return V with up to 100% discount on the agio. Contact: [email protected], phone +49 2235 95 66 98 10. Offers both online purchase and personal consultation options.
• Fondsdepot BankminorChannel Partner/ Reseller/ DistributorFondsdepot Bank is a fund platform partner serving as custodian for fund units. Over 1 million people trust the platform with fund custody. Manages over EUR 58 billion in customer assets (as of August 2021). Works with over 200 distribution partners including Germany's largest insurance and financial distributors.
• V-BANK AGminorChannel Partner/ Reseller/ DistributorV-BANK is Germany's leading partner for custody and account management as well as securities settlement for independent asset managers and selected clients such as family offices.
• LEGAVIS RechtsanwälteminorImplementation/ SI/ Consulting PartnerLEGAVIS is a law firm specializing in inheritance law, corporate law, and tax law, and is a leader in the establishment and support of foundations. Provides legal advisory services to KJL Capital.
• Reuss Private Bank für Wertpapierhandel AGminorChannel Partner/ Reseller/ DistributorKJL Capital AG cooperates with Reuss Private Bank für Wertpapierhandel AG in the area of financial portfolio management. The mandatory disclosures according to the EU Disclosure Regulation of Reuss Private Bank as a financial market participant are available on their ESG page.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Acatis Investment: German value-oriented independent investment boutique managing UCITS funds and individual mandates for retail and institutional clients. Comparable as a Frankfurt-style bank-independent boutique competing for the same HNWI and institutional German-speaking client base.
• Flossbach von Storch: Cologne-based owner-managed multi-asset boutique with strong brand among German HNWIs and a fund family spanning defensive, balanced, and equity strategies. Directly comparable in independence positioning and multi-strategy retail/institutional fund lineup.
• Quoniam Asset Management: Frankfurt-based quantitative asset manager owned by Union Investment, running systematic factor and multi-asset strategies. Comparable as a Frankfurt quant-focused manager targeting institutional clients, representing a likely competitor on institutional RFPs for AI/quant mandates.
• DJE Kapital: German boutique asset manager offering equity, multi-asset, and income funds, with a long-standing focus on capital preservation and value-oriented stock selection. Comparable as an independent German boutique with multi-strategy UCITS offerings and a strong reputation among private banking clients.
• Value Asset Management: German independent investment boutique running multi-asset and equity funds using quantitative and fundamental approaches. Comparable as a mid-sized boutique with overlapping product categories (multi-asset UCITS, AI/quant exposure) and similar institutional reach.
• Greiff Research & Investment: Frankfurt-based owner-managed investment boutique offering UCITS funds and individual mandates with a multi-strategy approach. Comparable in geography, boutique scale, and reliance on personal client relationships.
• GANÉ Aktienbank: Independent German asset manager running the GANÉ Value and ACATIS funds, focused on concentrated equity and multi-asset mandates for HNWIs and institutions. Comparable boutique profile, German-language client base, and bank-independent positioning.

Broad incumbents

• Union Investment: One of Germany's largest asset managers with broad multi-asset, equity, and alternative fund offerings distributed through Volksbanken/Raiffeisenbanken. Competes with KJL on shelf space and platform distribution rather than boutique positioning.
• DWS Group: Frankfurt-headquartered global asset manager with a large multi-asset and quant fund family. Comparable as a Frankfurt-based competitor with quantitative/AUM capabilities, but operating at vastly larger scale and broader product scope.
• Berenberg Asset Management: German private and asset management arm of Berenberg Bank, offering multi-asset and equity funds plus institutional mandates. Comparable product set and German HNWI/institutional target market, but with broader distribution and balance-sheet support.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kjl-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KJL Capital AG