Our Head of Germany, Julius Kolberg, has written two guest articles for the Handelsblatt Live BankenTech blog, published on 27 October 2026 (in German). Here is a short summary of each.
New asset class, old core banking process
New asset class, old core banking process: why private markets do not require a system migration. ELTIF 2.0 and evergreen structures have created the legal framework for private investors, but operational complexity shifts from the fund manager to the distribution channel. Many institutions run private markets on systems built for listed securities, while evergreen funds follow a different logic.
His answer is to build the missing logic next to the core system rather than into it. The core system remains the book of record.
Julius's outlook
"With ELTIF 2.0, the regulatory framework is in place. The relevant question is therefore not whether an institution builds or buys. It is which parts of the value chain it needs to control itself. This question stands at the centre of scaling private markets. Those who draw that line clearly can bring private markets to their clients without a system migration."
Julius Kolberg, Head of Germany, Titanbay
Read the full article in Handelsblatt (in German).
Private markets for wealth clients
Private markets for wealth clients: what distribution has to get right. ELTIF 2.0 and evergreen funds now open private markets to wealth clients. A wealth channel brings thousands of investors rather than a few dozen, and the fund's rules apply to each end client. Julius sets out four things that make the difference, from checking eligibility and suitability before the order is placed to handling redemptions client by client.
Julius's outlook
"Widening access to private markets depends on infrastructure, distribution and client experience working together, and the operational side is the most clearly solvable part of the task. There is a simple test for any distributor: could you tell five thousand clients, on the same day, exactly what a gated redemption means for each of them? Those who can are ready to scale. Private markets will be truly scalable when wealth clients notice the difference from other investments only in return and risk profile, not in how they are processed."
Julius Kolberg, Head of Germany, Titanbay
Read the full article in Handelsblatt (in German).
See Julius at BankenTech 2026
Julius is speaking at BankenTech in Frankfurt on 2 December at 11:25 CET, on scaling private markets through infrastructure, distribution and client experience.
About Titanbay
Titanbay structures, launches, runs, and trades private markets funds, in one place and on technology we built ourselves. The funds are managed by our own alternative investment fund manager, Titanbay Ireland Limited, authorised by the Central Bank of Ireland. Our technology takes on the operational work behind every fund, from structuring and onboarding through to trading and reporting. That lets asset managers bring funds to market and run them at scale, and lets wealth managers access and trade those funds through the systems they already use.
Private markets has run on spreadsheets and fragmented providers for decades. We knew there was a better way, so we built it.