Why LPs should be cautious about co-investing

The history of investors trying to make co-investments with private equity firms or even go it alone is strewn with casualties.

Why LPs should be cautious about co-investing

Big asset owners in Asia may want do more co-investments and direct deals in private equity, but history is replete with cautionary tales of investors who tried to build up internal capabilities to do just that.

“Over time, there have been cycles where limited partners LPs have tried to staff up and do deals directly and in general it’s been hard because they have structural disadvantages,” said one senior private equity professional, who did...

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