Co-Invest Clubs Are the New Fund I
How deal-by-deal capital graduates into a franchise.
Many of today's emerging managers are not raising a fund at all. They are running a co-invest club — a recurring group of LPs who see each deal and opt in — and calling it a track record.
Design for Graduation
Development director at Atlas New Communities. Master-planning large-format greenfield districts.
Get analysis like this weekly
One free issue a week. No spam, unsubscribe anytime.
Related news
The Anchor-First Fundraise
The blind-pool first fund is mostly extinct. What replaced it is the anchor-first raise: land one credible institution or family office on negotiated terms, then build the rest of the vehicle around them. Economics Follow the Anchor Your anchor underwrites you as an operator,…
The Micro-Resort Capital Gap
Landscape hotels, glamping clusters, twenty-key design resorts: demand is documented, returns are strong, and yet the category sits in a capital no-man's-land — too small for institutional hospitality money, too operational for most real estate funds. Who Fills the Gap The…
