Huge Growth In Private Equity Co-Investments For Institutional Investors

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New analysis by CEPRES of 3,959 Private Equity Co-Investment deals highlights niche segments outperform for LP investors

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NEW YORK, Feb. 2, 2018 /PRNewswire/ -- CEPRES today released on its investment platform the largest ever analysis of private equity co-investments encompassing 3,959 deals over the last 17 years. The report details the returns generated across different regions, market segments and stages including Buyout, Venture, Private Debt and Real Assets.

The analysis was done in PE.Analyzer and compared Co-Investment outcomes versus 40,000 direct GP deals across 4,089 funds covering some $15.5 trillion of private investments. The analysis shows the massive growth in use of Co-Investment strategies and their outcomes across different market segments.

Report Highlights:

  • 3,959 Co-Investments analyzed
  • $69.4 billion of Co-Investment capital
  • Number of Co-Investments has grown 20 fold in the last 17 years
  • Due to easier access, most Co-Investments are made in Companies valued over $1 billion
  • More restricted access to co-investments opportunities in small and mid-cap segments
  • However, selected niche segments perform better for Co-Investments
  • Co-Investments deliver better money multiples (TVPI) than IRR returns


"Co-Investments have become a very popular tool for institutional investors to hedge their portfolio exposure to different market segments and to reduce the impact of fees and carry. They are an effective tool, but this analysis shows investors need to be targeted and selective to ensure they get the outcomes they expect. With the deep analysis now available for Co-Investments investors can make informed decisions about their Co-Investment program and how to think about opportunities in the market.

"The increasingly heterogeneous investment environment creates opportunities to generate investment alpha, but makes it more challenging for LPs to identify strategies that fit their program targets. With analyses like this at their fingertips, LPs can understand the true drivers of market risk and returns and make efficient decisions about their investments."

Mr. Christopher Godfrey, President CEPRES Corp.

About Private Capital Markets Co-Investments

Co-Investments are equity or debt stakes offered by fund managers to their investors directly in the portfolio companies in which they invest. They are attractive to investors because they typically have enhanced economics by reducing fees for the investor. In addition, they allow investors to add concentration to their investment program, rather than being fully governed by the choices made as part of the blind pool fund delivered by the fund manager.


CEPRES is the world's largest digital investment network and leading platform for private markets for 1,850 LPs, GPs and Advisors around the world. Through powerful analytics our clients make efficient decisions on trillions of dollars of assets to drive their investment success.

CEPRES combines the power of an innovative financial technology company with expertise in private equity. Through PE.Analyzer, an online investment decision platform and community network, CEPRES makes powerful investing easy for Private Equity and Private Capital Markets.

For more information about this release, or to schedule an interview,

Contact: Miruna Aftenie

Tel: +49 (0) 89 232495610



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