Co-investing is the “wolf pack” advantage in private markets
Co-investing is the “wolf pack” advantage in private markets.
A lone wolf can survive. A pack wins more often because it hunts with coordination, shared intelligence, and discipline.
That’s exactly why family offices keep leaning into club deals. PwC’s Global Family Office Deals Study 2025 shows “club deals” remain the dominant structure, representing 69% of family office transaction flow in H1 2025 (and rising materially over the past decade).
What the best co-invest structures get right:
➤ More brains on the same deal, without slowing the decision.
➤ Shared risk, without losing ownership of the thesis.
➤ Better access, because credible partners bring repeatable value.
At Eagle Talon, when we think about co-investments, we look for the same “pack” traits:
➤ Clear roles and decision rights from day one
➤ Governance that speeds up decisions, not politics that slows them down
➤ A shared view on leadership and capital allocation before anything gets wired
Because in uncertain markets, the pack doesn’t just spread risk. It captures opportunities the lone hunter never even sees.
What’s been the biggest make-or-break factor in co-invests you’ve seen: deal access, diligence quality, or governance?
