{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/co-investment",
 "identifier": "kaal:entity:co-investment",
 "name": "Co investment",
 "termCode": "co-investment",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/co-investment.md",
 "sha256": "625e4f90b1dd0c3da2d29c8ea9f002be0c5cf7dea3269b951dfb149a3485d6de",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2016",
    "2021"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2714974-015",
   "identifier": "kaal:claim:2714974-015",
   "text": "Co-investment arrangements become problematic when a fund grants a co-investment opportunity in exchange for a future or increased fund commitment and the practice is not adequately disclosed, especially where the fund's governing documents would prohibit the allocation.",
   "abstract": "If such private fund advisers' practices are not adequately disclosed, co-investments can often be problematic.",
   "citation": "Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974",
   "datePublished": "2016",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "applies where limited partners are also co-investors",
    "turns on adequacy of disclosure and the fund's governing documents"
   ],
   "source_pdf_sha256": "7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2959730-013",
   "identifier": "kaal:claim:2959730-013",
   "text": "The new fee structure also results from fund managers foregoing market rate management fees, larger investors requiring reduced management fees as a condition of investing, and side-by-side co-investment vehicles charging less than 2% management fees.",
   "abstract": "The new fee structure is also the result of fund managers foregoing market rate management fees, larger investors requiring reduced management fees to induce investment, side-by-side vehicles attracting investors in the co-investment entities by charging less than 2% management fees",
   "citation": "Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730",
   "datePublished": "2017",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "funds using side by side or co investment vehicles",
    "funds seeking large anchor investors"
   ],
   "source_pdf_sha256": "ebd86972d8817b0c1c80326ae5564476983cedba3f258ff3b2610f156b93fb50",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3949098-038",
   "identifier": "kaal:claim:3949098-038",
   "text": "The key difference from the traditional venture capital model is that the DAOIC only makes its investment choices public and never provides investment analysis, so public co purchases are entirely voluntary.",
   "abstract": "The key difference from the traditional VC model is that even for the co-purchases through the market, the DAOIC only makes their investment choices public. The co-purchases by the public are entirely voluntary, the DAOIC never provides investment analysis etc.",
   "citation": "Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098",
   "datePublished": "2021",
   "claim_type": "definitional",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "public co purchases alongside DAOIC deals"
   ],
   "source_pdf_sha256": "04297905564a6092b2db7640561f58fd374d3114c79527357bad09d11b909819",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'co-investment'. Derived node: a roster, not an adjudicated definition."
}