Raising Standards for Alternative Investments
Polar Night Capital provides bespoke investment research and due diligence services to institutional investors and strategic advisory services to emerging GPs with a focus on Alternative Investments and Private Market strategies.
Polar Night Capital GmbH provides its services in investment brokerage and investment advice in financial instruments within the meaning of Section 2, Clause 2 No. 3 and 4 of the German Securities Act (Wertpapierinstitutsgesetz; "WpIG") as "Tied Agent" exclusively for the account and under the liability of AHP Capital Management GmbH, Weissfrauenstrasse 12-16, 60311 Frankfurt am Main.
About us
Polar Night Capital (PNC) was founded in 2024, is based in Frankfurt, Germany and is an investment company, regulated by the German Federal Financial Supervisory Authority (BaFin). The firm services fund managers and institutional investors and specializes in alternative investment strategies, including Private Debt, Private Equity, Real Assets and Liquid Alternatives. The team of PNC has deep expertise within the alternative investment industry and has built-up a broad network among best-in-class fund managers, institutional business partners and professional investors in the EU. The firm’s business practices include research and due diligence services for institutional investors and strategic advisory services for fund managers.
Services to Fund Managers
Polar Night Capital collaborates with a select group of specialized Alternative Investments GPs, enhancing their investment processes and operational set-up. PNC takes a hands-on approach to help GPs meet institutional investors' market standards, which are documented in the due diligence materials.
Strategic Advisory
The success of funds in specialized alternatives strategies is largely determined by their investment philosophy, their operational set-up as well as the GP’s transparency. Polar Night Capital provides strategic advisory services on various topics, such as product development & structuring, investment & operational processes and risk management framework. Moreover, PNC supports fund managers with the preparation of institutional marketing & due diligence documentation.
Fund Manager Support
Polar Night Capital has deep knowledge of recent investment trends, preferred investment structures and market terms and conditions required by investors. PNC reviews the current offering, advising on fund structures, fees and taking into account the current market environment.
Polar Night Capital supports fund managers throughout the investor due diligence process, ensuring the GP provides all necessary information for the the investment and operational assessment. PNC helps fund managers address key due diligence requirements and other critical aspects relevant the investment decision.
PNC supports the ongoing monitoring and update due diligence. Moreover, PNC ensures a constantly high level of transparency between the fund managers and the investors and assists in case of any follow-up inquiries.
Services to Professional Investors
Polar Night Capital is dedicated to support professional investors to navigate the alternative investment market and thoroughly evaluate specialized niche investment strategies. The PNC team has a deep understanding of the selection standards and specific allocation requirements of professional investors.
Advisory Services
Polar Night Capital has deep knowledge of alternative investment asset classes, the implications on the existing portfolio of institutional investors and recent investment trends. The advisory services are bespoke and specialised to the clients’ requirements and range from research input on specific asset classes, fund terms and structures as well as more comprehensive mandates covering the build-up of new alternative investment portfolios or servicing of existing portfolios.
Manager Selection & Fund Due Diligence
Polar Night Capital has built-up extensive expertise within the evaluation of global alternative investment funds and asset managers. Prior to the founding of PNC, the team has been successfully working with a large number of alternative investment managers and institutional investors and therefore has substantial experience with the market practice for processes and procedures for manager selection and fund due diligence.
PNC offers the active coordination of fund searches, including the setup of the investment universe, manager and fund screening as well as assessment of investment and operational capabilities for the short-listed candidates in line with institutional investors’ standards. Moreover, PNC provides second opinion assessments on specific funds & managers as selected by the investor.
Investment Structures
Polar Night Capital supports the following investment structures and vehicles within its services to professional investors:
• Fund-of-Funds
• Segregated Managed Accounts
• Bespoke Mandates
Team Composition
Polar Night Capital GmbH was founded in Jul. 2024 by Eugen Leichner and is a specialised Alternative Investments company, regulated by the German regulatory authority BaFin. The PNC team has deep expertise within the alternative investment industry and a broad network across fund managers and professional investors.
Eugen Leichner, Founder
The founder, Eugen Leichner, has a +10-years track record of working as an investment professional, servicing fund-of-fund mandates and institutional investors, resulting in a thorough understanding of market standards and requirements of investors. Eugen Leichner has interacted with a large number of asset managers globally and has assessed numerous funds across alternative investment strategies.
Further team members will be onboarded shortly.
Do you have any questions? Please feel free to contact us!
Investment Capabilities
The team of Polar Night Capital has a deep experience across alternative investment strategies, with a particular focus on Private Market Strategies and Liquid Alternatives. Our GP client coverage is global and diverse across various asset classes. Polar Night Capital has a deep understanding of alternative investment asset classes, and the investment requirements of professional investors, which allows the firm to provide specialist advice to GPs and LPs. Client references are available on request.
Private Alternative Credit
Private Credit is a fast-growing segment of the alternative investment industry with particular relevance for institutional investors providing attractive risk-adjusted returns and diversification on portfolio-level. PNC sets its focus on niche direct lending opportunities as well as asset-based private financing facilities.
Real Assets
Real Assets include the asset classes Real Estate and Infrastructure, which have been a significant part of institutional investors’ portfolios. PNC sets its focus on specialized financing strategies across the capital structure secured by real assets as well as special situations opportunities.
Private Equity
Private Equity is one of the most established asset classes within private markets, with high dispersion across sub-segments and sectors as well as between asset managers. The main focus of PNC is on specialized small- and mid-cap strategies as well as co-investments and secondary opportunities.
Liquid Alternatives
Liquid Alternatives and Hedge Fund strategies have the most flexibility in terms of investment instruments and segments being able to create a tailored exposure to specific risk factors. PNC has a focus on discretionary strategies within relative value and directional Equity and Credit strategies.
Investor Focus
Polar Night Capital acts as strategic consultant to professional investors and capital raising specialist in cooperation with specialized fund managers.
Private Investors
• Private Banks & Wealth Managers
• Family Offices/ HNWIs
• Investment Consultants / Advisors
Institutional Investors
• Public / Corporate Pension Funds
• Insurance Companies
• Occupational Penson Schemes
• Clerical Institutions
• Sovereign Wealth Funds
• Commercial Banks
• Fund of Fund Managers
Do you have any questions? Please feel free to contact us!
Our Values
Experience & Expertise
The team of Polar Night Capital has deep expertise within the alternative investment industry and a broad network across fund managers and professional investors. The founder, Eugen Leichner, has relevant experience of over 10 years working as an investment professional being responsible for investment and operational assessment of alternative investment funds.
Network and Relationships
PNC targets to create long-lasting relationships with a diverse and sophisticated pool of professional investors as well as abroad network of specialized fund managers. PNC’s clients appreciate the deep expertise, which enables the team to select fund managers with unique and attractive investment strategies and best-in-class capabilities. Moreover, PNC has established several cooperations with international business partners, which extend the coverage of the firm both on functional and regional level
Holistic Advisory Approach
Polar Night Capital offers professional, high quality and transparent services. PNC’s business practice involves a holistic approach, leveraging the deep expertise of the team working together with global asset managers and European professional investors. The team understands the key requirements of both parties and provides customized services in line with the sophisticated standards.
Alignment
PNC is a management-owned alternative investments company regulated by the German financial authority BaFin. The firm carefully selects its mandates and partners to avoid conflicts of interest and competition overlaps.
Contact
Weißfrauenstraße 12-16
60311 Frankfurt am Main
+49 176 4387 8817
info@polarnight-cap.com
All rights reserved © Polar Night Capital GmbH
Polar Night Capital GmbH provides its services in investment brokerage and investment advice in financial instruments within the meaning of Section 2 clause 2 no. 3 and no. 4 of the German Securities Institutions Act (Wertpapierinstitutsgesetz; „WpIG“) as tied agent exclusively for the account and under the liability of AHP Capital Management GmbH, Weißfrauenstraße 12 – 16, 60311 Frankfurt am Main. According to the legal requirements, we are obliged to provide our customers with the following information about AHP Capital Management GmbH and its investment services: MIFID Informationen – ahp-cm.com