Fund database › Private Equity
Generali Investments / Lumyna InvestmentsFR0013504479Class EUR B2
The GF Lumyna Private Equity World Fund combines a multi-strategy PE portfolio with a private-debt allocation — as a French FCPR, launched in 2020 and thus one of the older vehicles in the field, focused on Europe and North America.
Dealing takes place at the two valuation dates per month with very short notice — with no lock-up and no redemption discount; a net ceiling per dealing date caps payouts. This makes the fund one of the most frequently tradable in the database.
Subscription from EUR 10,000, primarily through unit-linked insurance solutions; designed for informed retail investors with advice. Not registered for distribution in Germany.
One of the few funds with a multi-year live record through two market cycles, and at the same time one of the most liquid — the combination of age, dealing frequency and insurance distribution is found nowhere else in the field.
Figures for class EUR B2 (FR0013504479) · product data 25 Sep 2026 · sources: prospectus (as at 29 Apr 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Aug 2021, the unit price has gained 7.0% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
59 monthly values, 59 derived from monthly returns · Source: price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since 2020; a reliable NAV series of the class is available from Aug 2021.
What the prospectus permits: five building blocks: Growth Capital, Private Debt, Co-Investments, primary markets (fund subscriptions at launch) and secondary markets; the allocation is managed on an ongoing basis by Adams Street Partners
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
119 holdings; the five largest account for 9.9% of the fund. 13.3% is held in the liquidity reserve — enough for 2 months of maximum redemptions.
Among the ten largest: 7 LP secondaries, 2 equity holdings, 1 GP-led secondary.
DispatchHealth provides mobile acute and urgent care to patients at home, working with health insurers, health systems and physicians to avoid emergency room visits and hospital stays.
Fund interest listed in the inventory only in abbreviated form as “Madison”, acquired on the secondary market.
Fund interest in G Square Capital, a European mid-market private equity investor with offices in London and Helsinki.
Fund interest in a US private equity vehicle, listed in the inventory only in abbreviated form as “MC PRIVATE EQU” and acquired on the secondary market.
US fund interest “PPC Fund II,” complemented by the co-investment vehicle “Sugar PPC.” The sponsor is not spelled out in the inventory, so the manager, strategy …
U.S. healthcare provider for rural areas that primarily serves Medicare beneficiaries under value-based care models.
LP interest in a buyout fund of Berkshire Partners (Boston), a US private equity firm focused on mid- and large-cap transactions in sectors such as business services, consumer, healthcare …
LP interest in an unspecified fund of Vitruvian Partners (London), a European growth buyout investor.
Single-asset continuation fund of CIVC Partners (Chicago), a US lower mid-market private equity firm focused on business and financial services.
LP interest in a buyout fund managed by Prospect Partners, a Chicago-based private equity firm specializing in the U.S. lower middle market.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; holdings as at 31 Dec 2023, reserve as at 30 Jun 2026; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 3.28%, class EUR B2 is well above the median of the asset class (2.60%). On top comes a performance fee of 15% above a hurdle of 5% — with a high-water mark.
For 10,000 EUR this means roughly 328 EUR per year.
For 10,000 EUR, a one-off up to 100 EUR on purchase.
Based on the PRIIPs key information document of class EUR B2, hence comparable across providers. Median: 35 Private Equity funds in this database, data run 16 Oct 2026.
Units can be subscribed fortnightly. The prospectus does not fix a determinable dealing day; the sequence is therefore shown as a rule, without dates.
Price = NAV per share on this day.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
| Frequency | fortnightly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | special rule, see prospectus |
| Cut-off | 2 business days before NAV day · 12:00 Paris · (before the anchor date) |
| Price | next NAV after centralisation |
| NAV publication | Valuation days: the last business day of each month and the first business day after the 14th calendar day of the month. |
| Payment | with the order: 0 business days after order placement |
| Minimum investment | EUR 10,000 |
| Entry charge (max.) | 1% (distributor) |
| Subscription limit | Suspension of subscription possible, including where the quota share could fall below 50% or where cumulative subscriptions over the last 12 months exceed EUR 1 billion or 100% of net assets. |
| Revocation | Subscriptions are firm and irrevocable |
| Business day | Calendar day other than a Sat/Sun or a public holiday in France, Luxembourg, the UK or the USA, or a day on which banks are closed; 24.12. |
Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed fortnightly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Centralisation 2 business days before the NAV date, 12:00 Paris time (Standard Notice Period), extendable by …
Price = NAV per share on this day.
Redemption requests centralised for a valuation day are served up to 2.5% of the fund's net assets.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
Money typically within a quarter — on average 70 days from decision to cash.
Rank 8 of 112 · rank 2 of 38 in Private Equity · no lock-up · no fixed redemption fee
Confidence medium — waiting time approximated · prospectus as at 29 Apr 2026 · score run 16 Oct 2026 · How 70 days become 54 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | fortnightly |
| Valuation day | special rule, see prospectus |
| Notice | 2 business days before NAV day · 12:00 Paris |
| Price | next NAV after centralisation |
| Payout | 60 calendar days after redemption day (latest 60 calendar days) |
| Gate | 2.5% net of NAV on the redemption day per centralisation |
| Scaled-back portion | carried forward on request |
| Redemption fee (max.) | 0% |
| Lock-up | none |
| Suspension | exceptional circumstances under Art. L.214-24-41 CMF, the interest of investors or of the public, pre-liquidation |
| Liquidity tools | Gating (2.5% net), extension of the notice period (max. 5 business days before the NAV date), suspension of redemptions and subscriptions, pre-liquidation |
| Switch / transfer | permitted with the prior consent of the management company via the registrar portal; the transferee must meet the investor criteria; possible at any time |
| Compulsory redemption | Compulsory withdrawal on breach of the US person or ERISA representations; transfer prohibited in these cases |
Redemption requests centralised for a valuation day are served up to 2.5% of the fund's net assets. The trigger is the NET size: if the sum of the redemption requests less the subscription requests exceeds 2.5% of net assets (Gating Threshold), the management company may activate the scale-back - it may, however, also serve beyond it if the liquidity position permits.
The Gate is a net gate: the relevant figure is the difference between centralised redemption and subscription orders in relation to the fund's net assets. The threshold of 2.5% applies uniformly to all share classes. The management company MAY trigger the Gate but is not obliged to do so - it may also satisfy requests beyond it where liquidity permits.
Data as at 25 Sep 2026 · Documents: 08.
3 classes. All cost and risk figures on this page refer to the basis class EUR B2.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Key information document (PRIIPs KID) | 31 Dec 2022 | — |
| Presentation | Jul 2022 | — |
| NAV series price feed / provider document | 30 Jun 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2023 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption semi-monthly, notice period 2 business days before NAV day, with 2.50% gate per centralisation.
Ongoing costs of 3.28% p.a. according to the PRIIPs KID for class EUR B2; the median of the Private Equity funds in this database is 2.60%; plus a performance fee of 15%.
10,000 EUR in class EUR B2.
As at 16 Oct 2026, no redemption restriction is documented for the GF Lumyna Private Equity World Fund. Under the prospectus a gate of 2.50% per centralisation applies.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.