Jera Capital A/s
Jera Capital A/S is an independent, Copenhagen-based private equity secondary manager specializing in smaller-ticket LP-led and GP-led secondaries in Western Europe and North America, serving professional, institutional, and family office investors via evergreen, vintage, and bespoke fund vehicles.
- Company typePrivate
- Founded2021
- HeadquartersCopenhagen, Denmark
- Headcount—
- GTM typeB2B
- OfferingServices
What Jera Capital A/s does
Jera Capital A/S is an independent private equity secondary manager headquartered in Copenhagen, Denmark, founded in 2021 by Christen Estrup and Julien Marencic — both previously investors at Nordea Private Equity. The firm focuses on smaller-ticket LP-led and GP-led secondary transactions across Western Europe and North America, deploying EUR 250m of assets under management across 119 underlying portfolio companies spanning 14 transactions. With 12 employees and combined private equity experience exceeding 50 years, Jera runs a deliberately selective underwriting process in which fewer than 3% of reviewed opportunities reach closing, targeting established, cash-generative businesses (median portfolio company EBITDA of EUR 55m).
The firm distributes capital through three structures: Jera Direct Access Private Equity (DAPE), a Luxembourg-incorporated SICAV-RAIF evergreen fund offering monthly subscription and redemption windows for professional investors; Vintage Programs, conventional closed-ended PE funds designed for institutional investors with defined investment horizons; and Customized Solutions, comprising co-investments and separately managed accounts tailored for family offices and pension funds. Underwriting is supported by proprietary in-house modelling and reporting tools layered with AI and big data analytics.
Revenue is generated from management fees on committed capital or NAV and from performance-based carried interest, in line with standard PE secondary economics. GTM is sales-led and relationship-driven, targeting professional investors, family offices, pension funds, insurance companies, and endowments. The firm is employee-owned with no institutional parent; in September 2024 it obtained the Danish AIFM (FAIF) license, enabling broader institutional distribution. Jera DAPE is a registered trademark and the firm holds no public listing.
Jera Capital A/s firmographics
Firmographics- Name
- Jera Capital A/s
- Legal name
- Jera Capital A/S
- Website
- https://jera-capital.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Short description
- Jera Capital A/S is an independent, Copenhagen-based private equity secondary manager specializing in smaller-ticket LP-led and GP-led secondaries in Western Europe and North America, serving professional, institutional, and family office investors via evergreen, vintage, and bespoke fund vehicles.
- Ownership category
- akta.pro rank
Jera Capital A/s industry classification
Industry- Product category
- Private Equity Secondaries Management
- NAICS
- Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Other Financial Vehicles (52599)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Investment Management Advisory (RIA) (FSAEAAAB)
- akta.pro secondary industries
- Institutional Separate Accounts & SMAs (Mandates) (FSAAAGAL), Managed Account / SMA Multi-Manager Platforms (FSANAGAL)
Keywords
Where Jera Capital A/s is headquartered
LocationHeadquarters
- HQ city
- Copenhagen
- HQ country
- Denmark
- HQ region
- Europe
Offices2 records
Markets served
Jera Capital A/s business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Management Fees: Charged on committed capital or net asset value of funds under management, typical for private equity secondary managers. Evergreen funds charge management fees based on NAV, avoiding J-curve effects for investors.
- Carried Interest: Performance-based carried interest aligned with investment returns, common in private equity secondary structures where GPs roll carry into continuation vehicles.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Jera Capital A/s product offering
Product offeringCore offering
Jera Capital is an independent private equity secondary manager that invests in LP-led and GP-led secondary transactions across Western Europe and North America. It operates three fund solutions: the Jera Direct Access Private Equity (Jera DAPE) evergreen SICAV-RAIF incorporated in Luxembourg with monthly liquidity windows; Vintage Programs structured as conventional closed-ended PE funds with defined investment horizons for institutional investors; and Customized Solutions comprising co-investments and separately managed accounts tailored to family offices and pension funds. With approximately EUR 250m in assets under management, the firm focuses on smaller-ticket deals and applies institutional-grade underwriting, proprietary modelling tools, and AI/big data analytics to evaluate opportunities.
Product overview
Jera Capital operates as a platform offering three distinct fund solutions for private equity secondaries: (1) Jera Direct Access Private Equity (Jera DAPE), an evergreen fund providing continuous exposure with monthly liquidity windows; (2) Vintage Programs, conventional closed-ended funds with defined investment horizons for institutional investors; and (3) Customized Solutions, bespoke co-investment and separately managed account structures. All solutions focus on LP-led and GP-led secondary transactions across Western Europe and North America, with EUR 250m under management as of 2024.
Differentiator
Problem solved
Functional benefit
Products and services
- Jera Direct Access Private Equity (Jera DAPE) Evergreen private equity fund offering professional investors continuous exposure to a diversified portfolio of private equity secondaries without a fixed end date, with monthly liquidity windows and subscription at NAV. Incorporated in Luxembourg as a SICAV-RAIF.
- Vintage Programs Conventional closed-ended fund structure with a defined investment period and fund life targeting LP-led and GP-led secondary transactions across Western Europe and North America. Designed for institutional investors seeking predictable investment cycles and disciplined capital deployment.
- Customized Solutions Bespoke structures including co-investments and separately managed accounts tailored to individual mandate requirements for family offices, pension funds, and other institutional allocators. Includes tailored reporting, individualized investment parameters, and co-investment opportunities alongside institutional-grade deals.
Quantifiable outcome
- Fewer than 3% of opportunities reviewed make it to closing, indicating highly selective underwriting and quality control.
- +1 more outcomes
Companies that use Jera Capital A/s
Customer profileSegments3 records
Ideal customer profiles3 records
Jera Capital A/s technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature3 records
Jera Capital A/s partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Treble PeakminorTreble Peak, a UK-based partner, interviewed Julien Marencic for their 'Behind the Capital' series to discuss secondary market dynamics and opportunities. The interview was published on 23 June 2025 on Vimeo.
Scale indicators7 records
Recent moves10 records
Expansion highlights5 records
Jera Capital A/s competitors and assessment
Company assessmentOthers
- Sanne Group (now part of Apex): Fund administration and corporate services provider specializing in alternative investment structures including PE secondaries. Relevant OTHERS comparison for Jera Capital's Luxembourg-domiciled evergreen vehicle.
- Apex Group (Private Equity Services): Major fund services and administration provider supporting PE secondary fund structures. Relevant OTHERS comparison given Jera Capital's Luxembourg SICAV-RAIF structure and AIFM compliance needs.
Direct peers
- Lexington Partners: One of the largest independent PE secondary managers globally, focused on LP-led and GP-led secondary transactions across the full size spectrum. Jera Capital competes in the same secondary market space but targets smaller-ticket transactions where Lexington's typical deal size does not extend.
- Ardian (Secondary Fund): Global PE secondary investor with one of the largest secondary platforms, executing both LP-led and GP-led transactions in Europe and North America. Directly comparable to Jera Capital in market segment and transaction types, though at materially larger scale.
- Greenpark Capital: Independent PE secondary manager focused on mid-market and smaller-ticket LP-led and GP-led secondaries in Europe and North America. Closest comparable peer to Jera Capital in deal size, target geographies, and selective underwriting approach.
- Coller Capital: One of the world's largest dedicated PE secondary managers with multi-billion AUM and global secondary franchise. Direct competitor in LP-led and GP-led secondary transactions though at materially larger scale and broader geographic footprint than Jera Capital.
Broad incumbents
- Pantheon: Large global PE secondary and primary fund-of-funds manager with multi-billion AUM. Overlaps with Jera Capital in PE secondary investing but operates at significantly larger scale and broader mandate scope.
- StepStone Group: Global PE investment platform offering secondaries, primaries, co-investments, and GP-led solutions. Similar to Jera Capital in GP-led secondary focus but operates at significantly larger scale across multiple strategies.
- HarbourVest Partners: Large multi-strategy PE investment manager offering primary, secondary, and co-investment solutions globally. Comparable to Jera Capital in secondary market activity but at substantially larger scale and broader product offering.
- Neuberger Berman (Private Equity): Established global asset manager with a sizeable PE secondary business including closed-ended funds and co-investments. Comparable to Jera Capital in secondary strategy but with much broader product suite and institutional distribution.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Jera Capital A/s social profiles
Digital presenceJera Capital A/s financial estimates
Financial estimateRevenue estimate
Valuation estimate
Jera Capital A/s leadership team
Management profileNumber of profiles
Profiles10 records
Jera Capital A/s funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Jera Capital A/s M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Jera Capital A/s
What does Jera Capital A/s do?
Jera Capital is an independent private equity secondary manager that invests in LP-led and GP-led secondary transactions across Western Europe and North America. It operates three fund solutions: the Jera Direct Access Private Equity (Jera DAPE) evergreen SICAV-RAIF incorporated in Luxembourg with monthly liquidity windows; Vintage Programs structured as conventional closed-ended PE funds with defined investment horizons for institutional investors; and Customized Solutions comprising co-investments and separately managed accounts tailored to family offices and pension funds. With approximately EUR 250m in assets under management, the firm focuses on smaller-ticket deals and applies institutional-grade underwriting, proprietary modelling tools, and AI/big data analytics to evaluate opportunities.
Is Jera Capital A/s a public or private company?
Jera Capital A/s is a private company. It is classified as management employee owned and is currently operating.
When was Jera Capital A/s founded?
Jera Capital A/s was founded in 2021.
Where is Jera Capital A/s based?
Jera Capital A/s is headquartered in Copenhagen, Denmark, in the Europe region.
How does Jera Capital A/s make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Jera Capital A/s's main competitors?
Others on record are Sanne Group (now part of Apex) and Apex Group (Private Equity Services). Direct peers are Lexington Partners, Ardian (Secondary Fund), Greenpark Capital and Coller Capital. Broad incumbents are Pantheon, StepStone Group, HarbourVest Partners and Neuberger Berman (Private Equity).
Does Jera Capital A/s have an API?
No public API is recorded for Jera Capital A/s.
What industry is Jera Capital A/s in?
Jera Capital A/s's product category is Private Equity Secondaries Management. Its primary akta.pro industry code is FSAEAAAB, Investment Management Advisory (RIA), with a secondary code of FSAAAGAL, Institutional Separate Accounts & SMAs (Mandates). Its NAICS code is 523940 and its SIC code is 6282.