Milbank LLP Global Corporate partner Rami Turayhi was quoted in PitchBook’s “Capital Pool” newsletter discussing how committed-capital co-investment funds raised a record $47.3 billion last year, despite such funds charging management fees and carried interest to investors.
In the article, titled, "Not All Co-Investors Want to Die on the Fee-Free Hill," Rami noted that the double-fee problem associated with a customary funds-of-funds vehicle is less of an issue for investors in committed-capital co-investment funds, as these co-investment funds are typically able to invest on a fee-free or fee-light basis at the deal level alongside the lead sponsor.
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