We have found that a number of our limited partners have created very professional groups to co-invest with us in deals.
These groups are so responsive that we can approach them quickly, and have them take significant co-invest pieces of our deals — whereas in the previous years we might have brought in another private equity firm to participate with us.
A question: Will the creation of these professional co-investment teams at Canadian Pension, Goldman Fund of Funds, Alpinvest, etc. decrease the number of GPs investing together?