4 Comments
 

Most provide side by side: Basically an LP interest with no fees. Usually should be in the company >1 year and if you leave the company you have to pay back the debt on the invested capital if it’s levered.

Pure co-invest that should be at a more senior level and it doesn’t seem to be as prominent as it can get messy especially in these large MFs.

 
Most Helpful

Indeed most MFs offer it (e.g. Apollo, H&F, Bain, BX) and market standard is indeed that you basically get an LP interest without management fees and carry. Fund expenses usually need to be paid for.

Key differences across the programme that you should check with Associates when recruiting:

  • Amount: usually there is a min and a max
  • Leverage: agreements offer across funds (e.g. you get a fixed % of your equity levered (e.g. Bain), only get a bonus advance, or do not get any form of leverage)
  • Accessibility: usually only from Associate as a regulatory requirement for PE investment is either having a net worth of >$1m or gaining 1-2 years of professional experience 
 

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