Hedge fund managers are increasingly offering co-investment opportunities to strategic clients. Translating the “idea” of a co-investment into a practical arrangement that works from a legal, regulatory and operational standpoint requires consideration of a wide range of factors.
In this focussed Hedge Fund Vista special, we shared our market-leading knowledge on the structuring and establishment of co-investment arrangements, including the following questions:
- What is a co-investment? What are the most common structures for co-investment?
- What are the differences between a standalone co-investment and a co-investment platform?
- What are the key factors to consider when structuring a co-investment?
- What approach should managers take on commercial terms such as liquidity arrangements, fees and allocations of expenses to deal with a wide range of investment opportunities?
- Which closed ended features (e.g. capital commitment / drawdown structures) can be relevant to co-investment structures and when should they be implemented?
- How can managers offer these bespoke arrangements whilst also managing the additional complexity?
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