How do your firms structure co-invest opportunities for associates / sr. associates?
How would one start doing levered co-invest and what is it typically? I am assuming associates put in a certain $ say $10K and can获得全部共同投资的机会，说$ 30K？
谢谢。
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注释 （16）
我们向基金付出了一美元，并实际上召集了资本，然后我们为投资的亲比拉份额提供资金，并从GP那里获得贷款以增加总额。
因此，您的共同投资是来自GP？您是否介意我问贷款的最大规模是多少？
在我的公司，同事可以按交易选择和选择投资，并资助一定$。唯一的问题是，这仅仅是我们的储蓄，所以我看到其他公司是否有杠杆设施，可以让您使用 /如何设置一个 /应该考虑的其他动态。
I should've been more clear. Our firm has a facility with a bank that funds the whole matching loan pool. We individually pay our portion of the interest quarterly.
Same setup at my fund. $1.5B, 8 associates. 50% LTV on your co-invest (so if you want to invest $100k of cash you commit $200k and they'll finance half of it).
我使用安全支持的信用额度来为我的一半提供资金，所以我实际上并没有从任何东西出来，这两个设施之间的利率约为4％，投资了10万美元，没有现金出售。
Do you mind me asking how you arranged the financing of your half of the commitment?
My fund doesn't offer leverage on our associate co-invest but I'd be very keen to find alternative solutions.
谢谢！
>$10bn MF:
For associates, the GP gives us an advance to our expected net bonus until the next bonus cycle. Other than that no leverage on Associate level, meaning your max leverage on the Co-invest is ~1x next net bonus.
For mid-level and Partners, the GP organised a credit line funding 75% LTV.
Adding another data point as an associate at a $5-10B firm: we have a banking partner who offers us an LOC at 70% LTV (interest rate ~3.25%) and we're able to invest $10k per deal for a max of $30k (depending on equity check size). We don't get a bonus advance from the GP, so we usually sweep some portion of our bonus to maintain 70% LTV.
听到信用额度 - 低利率，因此您投入了约20k美元并获得约1万美元的杠杆作用，这真的很有趣。
我认为这将是相反的 - 我们以$ 10K的价格获得约20k美元的杠杆作用（因为LOC覆盖了该值的2/3，而不是1/3）。
哈谢谢 - 跑步几个小时！它始终在平台勤奋的过程中，您会考虑如何改善Comp
Family office, family funds leverage. We get 2x leverage, min $25k equity check. So I invest 25k family gives me $50. Interest rate is 3.0% and interest is accrued and paid through the distributions.
Are the returns from coinvest taxed as income or long term capital gains?
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