In today's edition, competition for co-investments is impinging on economics; Software specialist PSG hits its hard-cap; A TPA expert at a sovereign wealth fund launches his own consultancy. Fresh Insights Co-investment carry Booming demand for private equity co-investments and directs is making allocators increasingly receptive to paying co-investment economics. That's according to a global LP survey by investment bank Houlihan Lokey, published this morning.

As co-investments grew in popularity in the early 2010s, transactions were usually offered fee-free, matching investor expectations, the report noted.