Honestas Finanzmanagement

Oliver Bohn and Alexander Kahl, the firm's co-founding managing directors, jointly manage investment decisions and fund structuring. Both have been with the firm since its founding in 2002. The partnership structure means all material capital allocation decisions require their joint agreement.

The firm sources deals through its Hamburg-based network of developers, project sponsors, and intermediaries across Germany, Austria, and Switzerland. It does not operate a proprietary asset-gathering sales force; distribution has historically relied on partnerships with independent financial advisors and occasional institutional placement agents like Berenberg.

Honestas predominantly uses closed-end fund structures under German partnership law, which provide limited partner investors with direct co-ownership of underlying assets and tax-transparent treatment. These structures impose capital lock-up periods that match the duration of the underlying real estate loans or private equity positions.

The firm structures its own funds that make direct investments — primarily mezzanine loans to specific property developments and minority equity co-investments in European companies. Honestas does not operate as a fund-of-funds allocator and does not publish positions in external fund commitments.

The firm has not publicly invested in liquid securities, venture capital, or publicly traded equities. Its closed-end fund model is designed exclusively for illiquid alternative assets, with no known activity in infrastructure, commodities, or open-ended retail mutual funds.