Alternative investments

Private equity has historically outperformed public markets over long cycles, offers active value creation, and gives investors exposure to companies not available in public markets.

The General Partner (GP) sources, structures, and manages a private investment fund. The GP holds discretion over investment decisions and typically commits its own capital alongside the LPs.

A Limited Partner (LP) is an investor in a private fund. LPs commit capital, receive distributions, and rely on the GP to run the fund. LP liability is limited to the committed capital.

A pooled vehicle in which multiple investors commit capital to a strategy managed by a GP — usually with a defined investment period, hold period, and set of return targets.

A co-investment is a direct investment made alongside a fund into a single asset — often on preferred economics for the LP. They offer concentrated exposure and lower blended fees.

Return expectations vary by strategy — private equity often targets net IRRs in the mid-teens; infrastructure and credit target lower, more stable returns. Past performance is not a guarantee of future results.

Typically as limited partnerships or Cayman/Luxembourg funds, with side letters, SPVs, and feeder structures to match investor tax and regulatory needs.

Private funds are generally restricted to qualified / accredited investors — high-net-worth individuals, family offices, and institutions — with specific rules varying by jurisdiction.

Through diversification, disciplined underwriting, independent valuation, active portfolio management, governance rights, and clear reporting to investors.