Venture & Private Equity · Family-office co-invest underwriting system
Co-Invest Diligence Pack
A family office offered a no-fee co-invest with a ten-day window: a diligence pack that underwrites the sponsor as hard as the deal, worked on a fictional packaging acquisition.
The brief, verbatim
I run the direct investments side of a single-family office, about $400M. A mid-market PE firm we know is offering us a $6M co-invest in a specialty packaging acquisition alongside their fund (fictional deal, real standards). No fees, no carry, ten-day window. I know co-invests are how families get hurt: adverse selection, no control, and you find out later why the sponsor had room for you. Build the co-invest diligence pack: how to underwrite the SPONSOR as hard as the deal; what the no-fee-no-carry math actually buys us versus fund exposure; the questions that surface why this deal has room in it; governance and information rights we should demand at our size; and the one-page memo my principal reads on a plane.
What the studio made
A 17-page pack: the sponsor underwrite (loss ratio by deal, the references a sponsor never volunteers), the no-fee-no-carry math against fund exposure, the questions that smoke out why the deal has room, the governance and information rights a 5.4% holder can actually demand, a worked mid-market specialty-packaging deal end to end, and the one-page memo for the principal. A live model in the browser where fee drag, entry, leverage and exit move the fund-versus-co-invest comparison, the Excel model of record, and the numbers with every assumption sourced.
The finished work
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You have something to build. Brief the studio in plain English and watch a room of specialists build it.
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