Co-investment primer

November 2024

Co-investments have become increasingly popular among many private market investors, particularly among large institutional investors.

The primary reason is that co-investments offer investors the ability to maintain or increase their private markets allocations at a lower expense.

In this primer, we review how co-investments work as well as the benefits and challenges of co-investing. We also discuss ways in which an investor may access co-investments and considerations when structuring a coinvestment program. While this paper focuses primarily on private equity, co-investing is available in other private market asset classes.