David LaGalia and Timur Eron Share Co-Investment Insights in Private Funds CFO
Partner David LaGalia, co-chair of Morrison Cohen’s Corporate Practice, and Counsel Timur Eron published “Eight Keys to a Winning Co-Investment Strategy” in Private Funds CFO. With sponsors increasingly relying on co-investment capital—often from existing LPs—they outlined eight issues for investors to keep in mind, including:
1. Structuring: Understand the big picture before diving into negotiations, and involve tax and ERISA advisors early.
2. Economics: Even if co-investments lack management fees or carried interest, review all sponsor-level fees, including portfolio company monitoring and deal fees.
3. Disclosure Rights: Don’t depend solely on “main fund” reporting—secure the specific metrics and diligence you and your investors require.
4. Continuation Vehicles: Seek to ensure co-investors have the same optionality and economics as main fund LPs.
To explore all eight keys to a successful co-investment strategy, read the full article here.
Contacts
- David P. LaGalia Partner & Co-Chair, Corporate; Co-Chair, Family Office Group
- dlagalia@morrisoncohen.com
- Timur N. Eron Counsel
- teron@morrisoncohen.com
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