Commentary: The rise of co-investment SPVs for institutional investors

One of the most popular investment structures in today's alternative investment universe is the co-investment special purpose vehicle. SPVs traditionally are formed for the limited purpose of making one investment to be held for a finite time period. Institutional investors, such as pension funds, endowments, foundations and sovereign wealth funds, are increasingly clamoring for SPVs because they are typically among a manager's "best ideas."