---
title: "Co-Investment Platform | Altss Glossary"
description: "A systematic process—or technology infrastructure—enabling LPs to participate in direct investments alongside a GP's fund, typically on preferential fee…"
canonical: "https://altss.com/glossary/co-investment-platform"
---

Fund Structures

# Co-Investment Platform

Publisher: Altss LLCPublished 2026-01-21Content modified 2026-01-21

A systematic process—or technology infrastructure—enabling LPs to participate in direct investments alongside a GP's fund, typically on preferential fee terms and with streamlined deal flow access.

A value capture and relationship signal—co-investment platforms allow allocators to increase exposure to high-conviction deals, reduce blended fees, and build operating partnership with GPs, while indicating systematic deal flow strength.

**Expanded Definition**

A co-investment platform formalizes how GPs offer LPs the ability to invest directly in portfolio companies alongside the main fund. Rather than ad-hoc invitations, platforms provide structured access through defined eligibility criteria, deal flow cadence, and participation terms.

Platform components: **Deal sharing** (systematic communication of co-invest opportunities via portal or dedicated LP channel), **standardized terms** (reduced or zero fees/carry, minimum check sizes, decision timelines), **eligibility framework** (which LPs get access—anchor investors, strategic partners, largest commitments), and **technology layer** (digital portals for deal materials, diligence access, commitment management). Strong platforms demonstrate GP confidence in deal flow quality and create fee-efficient exposure for LPs.

**Signals & Evidence**

Co-investment platform quality indicators:

- **Deal volume**: Regular opportunities (4-8 deals/year signals strong pipeline)

- **Fee structure**: Zero fees, 0-10% carry (better than fund economics)

- **LP participation**: High take-up rates (30-50%+ of eligible LPs participating)

- **Historical performance**: Co-invest track record matching or exceeding fund performance

- **Access criteria**: Transparent eligibility (commitment size, strategic value, operational support)

**Decision Framework**

- **Platform access**: Does LP qualify for co-invest rights based on commitment size or strategic value?

- **Resource capacity**: Can LP evaluate deals on tight timelines (often 2-4 weeks)?

- **Portfolio fit**: Do co-invests align with LP's sector focus and sizing preferences?

**Common Misconceptions**

*"Co-invests = adverse selection"* → GPs offer co-invests to share capital needs on large deals or reward LP relationships, not just to offload risk. *"All LPs get access"* → Platforms typically reserve access for anchor investors, strategic partners, or largest commitments. *"Co-invests reduce fund returns"* → GPs still retain meaningful economics; co-invests address capital constraints and LP relationship building.

**Key Takeaways**

- Co-investment platforms provide systematic, preferential-fee access for LPs to invest directly alongside GP funds

- Strong platforms signal deal flow quality, GP confidence, and relationship depth with key LPs

- Platform access typically reserved for anchor investors or strategic partners with capacity for rapid diligence

## Related terms

[Anchor Investor](https://altss.com/glossary/anchor-investor)[Side Letter](https://altss.com/glossary/side-letter)[Capital Call](https://altss.com/glossary/capital-call)[Direct Investment](https://altss.com/glossary/direct-investment)

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## Canonical URL

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