Private Equity Co-investing in Europe 2021

Top tips in securing and evaluating a deal

Driven by the opportunity for outsized returns and lower fees co-investing is the "hidden gem" of the private equity investor community.

Although, in theory, there are a number of ways to access co-investment opportunities –indirectly as an investor in a Fund of Fund (FoF) dedicated to co-investments or by directly co-investing alongside a private equity (PE) fund - in reality, such investments are in limited supply.

Co-investing starts with the negotiation of your investor commitment so LPs should make their interest in co-investing clear from the outset. LPs can flag their desire for more exposure to larger deals but may limit this to a particular sector or geography. LPs should additionally flag their ability to access additional capital on fairly short notice and demonstrate that they have the internal processes and governance in place to support a co-investment deal.

This approach should secure a strong position for a co-investor when the PE house has a deal with a valuation that exceeds the available commitments in the fund or is in itself too large for the fund based on the aggregate value or sector or country allocation limitations.

Co-investors and GPs may wish to take advantage of our handy guide and some useful "top tips" on securing and evaluating co-investments as well as effective deal execution across Europe. Please click below to download the guide or to contact any of our co-investing experts across Europe.

Top tips for Private Equity Co-Investing in Europe
Top tips on securing and evaluating co-investments as well as effective deal execution across Europe


11.69MB, 11 Pages


This article was written by Barri Mendelsohn and Greg Stonefield.

20 January 2022

This article was written by Mark Schaub and Atticus Zhao

08 November 2021

The growth of the digital economy has led governments around the world to seek to regulate cybersecurity and privacy of individuals. The digital economy has eroded national boundaries, accentuated possible risks to infrastructure and allows for personal information to be collected on a scale undreamt of and to be used in ways few understand. China's authorities tackled cybersecurity with the PRC Cybersecurity Law (Cybersecurity Law) which came into effect on 1 June 2017. This law also touched upon privacy concerns and marked that regulating of the digital economy and cyberspace was a serious objective. On 1 September 2021, China Data Security Law came effect. The focus of this law is the protection and security of critical data in relation to national security and the public interest. China's new Personal Information Protection Law (PIPL) which comes into effect on 1st November 2021 deals in a much more comprehensive manner with individual data. The Cybersecurity Law, the Data Security Law, PIPL and a plethora of other regulations need to be considered as a whole when international companies operate in or with China. However, as we explain in this article PIPL will likely cause much more concern for international businesses as 1) it is coming soon; 2) it applies much more broadly; 3) it establishes very legitimate rights for individuals vis a vis their personal data but such rights will need to be reflected in business processes; 4) the penalties have real teeth; and 5) one can expect very active enforcement due to a mix of motivated regulators and concerned individuals being empowered to take action. In this article we seek to provide an overview as to how PIPL will hold companies accountable and also what measures we believe need to be taken.

15 September 2021