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 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…
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,…