05 · Co-Investment
Alongside the sponsor, not in place of them.
Equity and preferred equity alongside sponsors who keep meaningful capital at risk and retain operational control. We are a capital partner with governance rights, not an operator seeking to take over your business plan.
Where it applies
Joint venture equity
Equity partnership on a single asset or a defined programme of assets.
Preferred equity
Priority return capital sitting between senior debt and sponsor equity.
Programmatic partnerships
A repeat framework with a sponsor across multiple transactions.
Equity gap funding
Completing the equity stack where senior debt is already agreed.
Recapitalisation
Replacing an outgoing equity partner in an existing structure.
Structured capital
Hybrid instruments where neither pure debt nor pure equity fits the transaction.
What we underwrite
- Sponsor capital at risk and alignment through the full cycle
- Track record with the same asset class and jurisdiction
- Governance, reserved matters and information rights
- Realistic base case, and what the downside case looks like
- Defined exit and distribution waterfall
What we need from you
- Investment memorandum or business plan
- Full capital structure and proposed waterfall
- Sponsor track record with realised outcomes
- Debt terms already agreed or targeted
- Proposed governance and reporting framework
What we do not do
- Passive minority positions with no governance rights
- Sponsors with no capital at risk
Tell us what you are financing.
Amount, asset, use of funds, security and repayment. We will tell you quickly whether we can act.
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