Highlights from an active year for co-investment funds
March 24, 2015
Our recent PE and VC Fundraising and Capital Overhang report thoroughly examines all types of U.S.-based investment vehicles. One trend we noted was the continued interest from limited partners in co-investments, as 22 structured co-investment funds were raised in 2014—twice the number raised in 2013. To learn more about three of the largest co-investment funds that closed last year, watch the video above or read the transcript below.
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Three of the top co-investment funds of 2014:
1. Orion Mine Finance, a private equity firm that specializes in providing financing options to developing stage-mining companies, closed its Orion Mine Finance Fund I-A, an annex fund to Orion Mine Finance Fund I, at $562 million in August 2014.
2. TPG Special Situations closed its TSSP Adjacent Opportunities Partners at $850 million in July. We expect half of the fund’s opportunities to be “mid-return” investments of shorter duration and the other half to be co-investments involving larger transactions.
3. HarbourVest Partners 2013 Direct Fund closed at $1 billion in April of 2014. Though HarbourVest Partners tends to focus on fund-of-fund strategies, this fund makes primarily direct, global co-investments into small to mid-market companies.
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