Funds in 15 Minutes | This time with Joachim Mogck

Joachim Mogck, Co-Founder and Partner of Berlin-based fund law
boutique Orbit, takes us through German fund structuring from a
tax perspective, focusing on the strategic fork between
non-trading and trading fund profiles — and why the choice can
materially influence foreign LP appetite, admin burden, and tax
leakage. We discuss the practical role of Germany’s PE tax
framework (the “PE Decree”), what actually makes a structure
robust in real life (governance, documentation, and consistency),
and how to think calmly about risk narratives that can distort
decision-making. Joe then moves to pragmatic structuring tools
for “trading” scenarios: blocking/feeder concepts, parallel
vehicles, and “fine-tuning” via workflows and LPA mechanics, plus
what emerging policy direction could mean for future fundraising
routes.