A GP and LP unpack best (and worst) practices in co-investment

About this episode

Joana Rocha Scaff and Alexis Maskell discuss the dynamics of private equity co-investments, highlighting best and worst practices.

In the third episode of PEI Group’s Commitment Issues podcast miniseries, Joana Rocha Scaff of Neuberger Berman and Alexis Maskell of BC Partners unwrap the competitive world of private equity co-investments. Over the past few years, such deals have become an expected feature of a GP’s offering, with both investors and managers honing their approaches accordingly. As a very hands-on co-investor, Neuberger Berman looks to “re-underwrite” the asset alongside the GP, Scaff says. She highlights some of the issues that commonly crop up during the process, pointing to bugbears such as GPs going back on promises made or co-investments being pulled into continuation vehicles. For his part, Maskell outlines why he wants to see a variety of sophistication levels among LPs participating in co-investments, including what he likes – and prefers not – to see from clients, and how both sides can work together most effectively.

People in this episode

Guests: Joana Rocha Scaff, Alexis Maskell

Topics covered

• private equity
• co-investments
• best practices
• investment strategies
• GP and LP collaboration

Keywords

• co-investment
• private equity
• GP
• LP
• investment practices
• Neuberger Berman
• BC Partners

Mentioned in this episode

Organizations: Neuberger Berman, BC Partners, PEI Group

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