Resource Hub · Published December 22, 2025
How do co-investors evaluate an independent sponsor deal?
What to underwrite, what to negotiate, and what to expect when you put capital into a sponsor-led private equity deal.
Co-investing alongside an independent sponsor means writing a check into a specific company, with specific governance, specific economics, and specific risk. It is one of the most efficient ways to build private equity exposure on your own terms.
These ten articles cover every part of the co-investor experience, from first diligence call to final distribution.
In this resource
- Evaluating an Independent Sponsor Co-Investment: A Practical ChecklistTen questions to ask before you wire money into a sponsor-led co-investment opportunity.
- Co-Investment Economics and Promote in Independent Sponsor DealsHow fees, preferred return, and promote translate into net returns for co-investors at closing and exit.
- What Rights Co-Investors Have in Independent Sponsor DealsThe governance, information, and economic rights that should be in every co-investor's LP agreement.
- How Co-Investors Access Quality Private Equity Deal FlowWhere the best co-investment opportunities come from and how to position yourself to see them.
- Co-Investment Due Diligence Checklist for Independent Sponsor DealsA practical checklist covering company, market, sponsor, and deal-document diligence.
- Co-Investment Minimums and Allocation: What to ExpectCommon check sizes, how allocations get cut when deals are oversubscribed, and how to improve your odds of a full allocation.
- Co-Investing vs. Fund Investing: Trade-offs for Private-Markets AllocatorsHow co-investments compare with fund commitments on fees, diversification, transparency, and effort.
- Governance Rights for Co-Investors in Independent Sponsor DealsBoard seats, observer rights, voting thresholds, and the practical difference between minority influence and minority protection.
- Co-Investor Reporting and Transparency StandardsWhat good reporting looks like, what is acceptable, and what should worry you about a sponsor's communication cadence.
- Exit Strategies and Distributions for Independent Sponsor Co-InvestorsThe four common exit paths from a sponsor-led deal and how each affects co-investor returns and timing.