Cohesive Capital: Unlocking Private Equity Insights

Decoding Private Equity: Your Guide to Cohesive Capital Partners and the Power of Direct Co-Investing

Welcome, fellow explorers in the world of finance! We understand that navigating investment landscapes, especially areas as specialized as private equity, can feel like stepping into uncharted territory. You might be familiar with stocks or bonds, perhaps even technical analysis on public markets, but private equity often operates behind the scenes, a domain typically reserved for large institutions and sophisticated investors. Yet, understanding its dynamics is crucial for any serious investor seeking a comprehensive view of capital deployment.

Today, we’re going to pull back the curtain on a fascinating corner of this world: direct co-investing. Specifically, we’ll explore the strategy and approach of Cohesive Capital Partners. Think of us as your guide, here to break down complex ideas into understandable concepts, much like translating a dense financial report into plain English. We aim to give you the foundational knowledge to appreciate how firms like Cohesive Capital operate and the value they seek to create.

What exactly is private equity, and why would a firm focus exclusively on co-investing? How do they find opportunities, and what does their success mean for the broader investment ecosystem? We’ll delve into these questions, using Cohesive Capital Partners as our primary example to illustrate the principles at play. Prepare to understand a powerful investment model that combines strategic partnerships with rigorous analysis and operational expertise.

Let’s embark on this journey together, demystifying private equity one concept at a time.

What is Private Equity? An Overview Beyond Public Markets

Before we zoom in on Cohesive Capital Partners, let’s establish a baseline. What is private equity (PE)? Simply put, it’s equity capital that is not listed on a public exchange. Private equity firms raise funds from investors (like pension funds, endowments, sovereign wealth funds, and high-net-worth individuals – known as Limited Partners or LPs) and use that capital to acquire stakes in private companies, or sometimes to take public companies private.

Unlike trading stocks on the NYSE or Nasdaq, private equity investments are illiquid – meaning they are not easily bought or sold on a daily basis. These investments typically involve taking a significant, often controlling, ownership stake in a company with the goal of improving its operations, strategy, or financial structure over a period of several years (typically 5-10 years), and then exiting the investment, usually through a sale to another company or PE firm, or via an initial public offering (IPO).

Why do firms engage in PE? The potential for high returns. By actively managing the companies they invest in, implementing operational improvements, strategic shifts, or financial engineering, PE firms aim to grow the company’s value significantly before exiting. This hands-on approach differentiates it from passive public market investing. However, it also comes with higher risks, illiquidity, and requires deep expertise.

Now, consider this: within the vast landscape of private equity, there are different ways to invest. One common method is investing *into* a PE fund, where you delegate investment decisions entirely to the fund manager. Another, more specialized approach, is direct co-investing. And that’s where Cohesive Capital Partners carves out its unique niche.

Are you starting to see how different these waters are compared to the public markets you might be used to trading? It requires a fundamentally different mindset and approach.

The Cohesive Capital Difference: An Exclusive Focus on Direct Co-Investing

Many private equity firms raise large funds and are the primary drivers of acquiring and managing companies. This is known as a “control” strategy or leading a “buyout.” Cohesive Capital Partners operates differently. Their core strategy is making direct investments exclusively alongside high-quality private equity sponsors.

What does “direct co-investing” mean in this context? Instead of leading the deal and taking a controlling stake themselves, Cohesive Capital Partners invests capital directly into a company *at the same time* as another established private equity firm (the “sponsor”) is making their primary investment and taking control. Cohesive takes a minority stake but invests directly into the company’s equity or debt structure, alongside the sponsor.

Think of it like this: If a leading PE firm is building a large, complex structure (acquiring a company), Cohesive Capital Partners comes in and invests alongside them, helping to finance the project and sharing in its potential success, but relying on the lead sponsor to manage the construction process. Cohesive doesn’t initiate the deal or control the company, but they participate meaningfully in the investment round.

This strategy isn’t passive. While they don’t control the company, Cohesive Capital Partners conducts its own thorough due diligence on both the target company and the lead sponsor. They assess the deal terms, the projected returns, the management team, and importantly, the capabilities and track record of the private equity sponsor they are partnering with.

This exclusive focus on partnering with top-tier sponsors is a defining characteristic of Cohesive Capital Partners. It allows them to be highly selective about the deals they participate in, leveraging the deal sourcing networks and operational expertise of their chosen partners while deploying their own capital in opportunities that meet their specific criteria. It’s a strategic choice that shapes their entire operational model and value proposition.

Does this sound like a less risky approach than leading deals yourself? In some ways, yes, as you rely on the sponsor’s expertise. But it still requires significant skill to select the right sponsors and the right co-investment opportunities.

Why Co-Invest? Benefits for Investors and Cohesive Capital

You might wonder, why would a firm choose this co-investing path rather than raising larger funds to lead deals? The direct co-investment strategy offers several compelling advantages, both for Cohesive Capital Partners as the manager and potentially for their investors (LPs):

• Access to High-Quality Deals: Top private equity sponsors see a vast number of potential deals. By partnering with them, Cohesive Capital Partners gains access to a flow of curated, well-vetted investment opportunities that they might not otherwise find on their own, especially given their team size relative to mega-funds.

• Leveraging Sponsor Expertise: Cohesive benefits significantly from the deep industry knowledge, operational expertise, and transaction experience of the lead sponsors. The sponsor has done the heavy lifting in originating, structuring, and planning the value creation strategy for the deal. Cohesive can validate this work through their own diligence but doesn’t have to replicate the entire process.

• Potentially Lower Fees: Traditionally, investing *in* a PE fund involves management fees (typically 1.5-2% annually) and a share of profits (carried interest, typically 20% above a hurdle rate). Co-investments, especially for large LPs co-investing directly, often have significantly reduced or no management fees on the co-invested capital, and sometimes more favorable carried interest terms. While Cohesive Capital Partners itself charges fees to its LPs, the underlying co-investment model often means more capital goes directly to work in the portfolio company rather than being consumed by fund-level fees, potentially enhancing net returns for investors.

• Diversification: By participating in multiple co-investments alongside different sponsors and in various industries, Cohesive Capital Partners can build a diversified portfolio of direct equity stakes, spreading risk across different companies and market sectors more effectively than if they focused on only a few control deals.

• Alignment of Interest: When Cohesive invests alongside a sponsor, both parties have significant capital at risk in the same deal, fostering a strong alignment of interest towards the success of the underlying portfolio company. This partnership model encourages collaborative problem-solving and strategic focus.

This approach requires strong relationships within the PE community and the ability to quickly and effectively evaluate opportunities presented by sponsors. It’s a testament to the network and reputation of the Cohesive Capital Partners team that they are consistently invited to participate in deals led by leading firms.

Can you see how this model allows a firm to deploy capital strategically by riding alongside established players? It’s like joining an experienced expedition team already charting a course, contributing resources and sharing the rewards.

The Cohesive Team and Executive Council: Experience Matters

Success in private equity, perhaps more than in public markets, hinges critically on the experience and expertise of the people involved. Evaluating complex private companies, structuring deals, and partnering effectively with lead sponsors requires a seasoned hand. Cohesive Capital Partners emphasizes the strength of its team and the support it receives from its Executive Council.

The firm is managed by a team with extensive direct deal experience. Individuals like John Barber, a Managing Partner, bring years of experience originating, evaluating, and executing private equity investments. Partners such as Adam Freeman, Gregory Angrist, and Joe Franken contribute diverse backgrounds in finance, operations, and strategy, honed through previous roles in private equity, investment banking, or related fields. This collective experience is vital for performing the rigorous due diligence required on both the potential portfolio company and the lead sponsor, even in a co-investment scenario.

Beyond the core investment team, Cohesive Capital Partners is supported by an Executive Council. This council comprises seasoned executives and industry leaders with deep operating experience across various sectors. Their role is invaluable. They provide strategic guidance, sector insights, and operational expertise. For instance, when evaluating an investment in a healthcare SaaS company like MedNet Solutions or a power infrastructure asset like Glenfarne Asset Company, council members with relevant industry backgrounds can offer critical perspectives that complement the financial analysis performed by the investment team.

This blend of investment acumen and operational insight is a hallmark of successful private equity. While Cohesive Capital Partners relies on the lead sponsor for day-to-day portfolio company management, the Executive Council’s expertise can still be leveraged to evaluate the sponsor’s proposed value creation plan, identify potential risks, or even provide guidance on specific operational challenges faced by portfolio companies if requested or appropriate. It reinforces the credibility and capability of Cohesive Capital Partners as a strategic and knowledgeable investment partner.

Think of the investment team as the strategists and analysts, and the Executive Council as the experienced field commanders who have navigated similar terrain before. Together, they form a robust decision-making engine.

Inside the Deal Room: Navigating Due Diligence in Co-Investing

When a private equity sponsor identifies a target company and begins the process of potentially acquiring it (a buyout), they engage in extensive due diligence. This involves analyzing the company’s financials, market position, management team, legal structure, operational efficiency, and growth prospects. It’s a deep dive to understand risks and opportunities.

In a direct co-investment scenario, Cohesive Capital Partners doesn’t have to replicate every single step the lead sponsor takes. However, they perform their *own* independent due diligence. This is crucial. They aren’t just blindly following the lead sponsor; they are making their own informed investment decision.

What does Cohesive’s due diligence focus on? It typically involves:

• Evaluating the Lead Sponsor: A significant part of Cohesive’s process is assessing the quality, track record, and reputation of the PE firm leading the deal. Do they have experience in this industry? Have they successfully executed similar strategies before? Do they have a strong operational team? This “sponsor due diligence” is paramount because Cohesive is relying on them to drive value creation.

• Independent Commercial and Financial Review: Cohesive will review the target company’s business model, market dynamics, competitive landscape, and historical and projected financial performance. They’ll analyze the key assumptions underlying the sponsor’s investment thesis. They might engage third-party consultants for specific areas, though perhaps not as extensively as the lead sponsor.

• Management Team Assessment: Even though the sponsor will likely work closely with or potentially change the management team, Cohesive will assess the capabilities of the existing leadership and the sponsor’s plan for the team.

• Transaction Terms Analysis: Cohesive will carefully review the proposed deal structure, valuation, financing terms, and the specific rights and preferences associated with their co-investment alongside the sponsor’s investment. They ensure the terms are fair and align with their investment objectives.

• Legal Review: A thorough review of the investment documents and legal agreements is necessary to understand the rights, obligations, and protections afforded to Cohesive as a co-investor.

This diligent process, informed by their team’s experience and the Executive Council’s insights, allows Cohesive Capital Partners to be a discerning co-investor, selecting opportunities that align with their expertise and risk appetite, and where they have high conviction in the lead sponsor’s ability to execute the value creation plan.

It’s a sophisticated process, combining financial analysis with relationship assessment. Imagine you’re choosing a captain (the lead sponsor) for a difficult voyage; you need to trust their skills, but you also double-check their navigation plan!

Case Study: MedNet Solutions Recapitalization Explained

Let’s look at a concrete example of Cohesive Capital Partners’ strategy in action. A notable transaction involves the recapitalization of MedNet Solutions, a company specializing in SaaS-based eClinical technology for the life sciences industry. This deal, where Cohesive participated significantly, highlights their approach of partnering with established firms.

A recapitalization is essentially a restructuring of a company’s debt and equity mixture. In this instance, it involved a significant growth investment of $16.5 million. This wasn’t an acquisition where ownership completely changed hands, but rather an infusion of capital to accelerate growth, potentially provide liquidity to some existing shareholders or employees, and optimize the company’s capital structure.

In the MedNet Solutions deal, Cohesive Capital Partners led or participated in this second round of financing alongside Arrowroot Capital and past investors like Tamarack Partners, who had previously provided M&A advisory services to MedNet. Arrowroot Capital, itself a growth equity firm focused on software, likely served as the lead sponsor or a key partner in driving this recapitalization, leveraging their sector expertise to help MedNet scale.

Cohesive’s participation in this $16.5 million investment demonstrates several aspects of their strategy:

• Partnering with Sector Specialists: Arrowroot Capital’s focus on SaaS aligns well with MedNet’s business, providing a specialist partner. Cohesive trusts Arrowroot’s ability to understand and grow a tech company.

• Providing Growth Capital: The investment was specifically for growth, enabling MedNet to expand its operations, develop new features, or pursue strategic initiatives. Cohesive’s capital is directly fueling the company’s future.

• Collaborating with Existing Investors: The participation of past investors like Tamarack Partners indicates continuity and potentially validates the ongoing potential of MedNet Solutions.

For Cohesive Capital Partners, this investment in MedNet Solutions is a textbook example of their model: deploying capital directly into a promising company within an attractive sector (tech/healthcare) by partnering with a reputable firm (Arrowroot Capital) that is taking a lead role in the investment round and subsequent value creation efforts. It’s a clear illustration of their commitment to strategic co-investing.

Understanding deals like this helps demystify how private capital flows into growing companies and the role firms like Cohesive play in facilitating that growth.

Building a Portfolio: Diversity and Strategy in Co-Investments

While the MedNet Solutions deal provides a snapshot, Cohesive Capital Partners’ overall investment strategy involves building a diversified portfolio of direct co-investments. Diversification is a fundamental principle in investing, and it applies just as much in the private markets as it does in public stocks or bonds.

Cohesive aims to spread its capital across various companies, industries, and potentially different types of transactions (like buyouts, growth equity, or recapitalizations) to mitigate risk. If one investment underperforms, the others can help offset that. Their portfolio is a reflection of the opportunities they have evaluated and chosen to participate in alongside their selected PE sponsors.

The data suggests their active portfolio includes investments in companies across diverse sectors. Examples include:

• Glenfarne Asset Company: An investment made initially via Fund I in 2015, partnering with Glenfarne Group. Glenfarne Asset Company is involved in power infrastructure asset ownership and development, operating in North America and Latin America. This represents exposure to the energy and infrastructure sector.

• Parella Motorsports Holdings: An investment made more recently in 2023, via Fund IV, partnering with Velocity Capital Management. Parella Motorsports Holdings owns and operates motorsports events and series, primarily in the U.S. and Canada. This provides exposure to sports and entertainment.

• MedNet Solutions: As discussed, a technology investment focused on healthcare SaaS.

• Other examples hinted at in the data via lead sponsors like TZP Group (e.g., The Dwyer Group / Neighborly), or various investments mentioned alongside firms like Arrowroot Capital, Lasko, GLG, TRP, Mavenir, FXI, Outworx, Black Tux, VideoAmp, DJR, Circana, TSM, MyEyeDr, Foursquare, MBS, MissionWired, CoreLogic, ScalePad, Ingram, Battea, INW, Exer, Beekman, Wonders, Siffron, Gulf Pacific, Bulk Express, WCI, NAC, ImpactXM, etc. These span manufacturing, business services, technology, consumer products, healthcare, and more, showcasing the breadth of industries Cohesive may invest in.

By participating in deals initiated by a variety of high-quality sponsors across these different areas, Cohesive Capital Partners builds a portfolio designed for resilience and growth potential derived from multiple sources. It’s a strategic assembly of companies, each vetted individually but also considered in the context of the overall portfolio diversification goals.

Imagine building a sports team not by drafting all the players yourself, but by having the chance to add star players to the best teams already being assembled by top coaches in different leagues. That’s a simplified view of portfolio construction through co-investing.

The Fund Lifecycle: From Fund IV in Market to Past Exits

Private equity firms like Cohesive Capital Partners manage investment vehicles known as funds. These funds have a finite life, typically 10-12 years, during which capital is raised from LPs, invested in portfolio companies, managed, and eventually returned to investors as investments are exited.

The data indicates that Cohesive Capital Partners has managed multiple funds throughout its history. It mentions Fund I, Fund II, Fund III, and notably, states that Fund IV is currently in market. This means Cohesive is actively fundraising, seeking commitments from LPs for their latest investment vehicle.

• Fundraising (Fund IV): When a fund is “in market,” the PE firm (the General Partner or GP) is presenting its strategy, track record, and terms to potential investors (LPs) to secure capital commitments. LPs don’t typically hand over all the money upfront; they commit to providing capital when called upon by the GP to fund specific investments. This phase requires demonstrating a clear vision and the capability to deploy capital effectively.

• Investment Period: Once a fund closes (reaches its fundraising target), it enters an investment period (typically the first 5-6 years). During this time, the GP identifies, evaluates, and makes new investments in portfolio companies using the committed capital through capital calls to LPs. Cohesive Capital Partners would be using Fund IV capital for new direct co-investments like the one in Parella Motorsports Holdings.

• Value Creation & Management: After initial investment, the focus shifts to working with the lead sponsor to manage and improve the portfolio companies. While the sponsor leads operational improvements, Cohesive monitors performance and leverages its Executive Council as needed.

• Exit Period: As the fund matures (typically in the later years), the GP focuses on exiting the investments – selling the portfolio companies to realize gains (or losses). Exits generate distributions of capital and profits back to the LPs. The success of Fund I, II, and III would be measured by the returns generated from the exits of the companies within those funds.

The fact that Fund IV is currently in market signals strong ongoing activity and intent for future direct co-investments. It shows that Cohesive Capital Partners continues to attract investor confidence based on the performance of its previous funds and the appeal of its co-investment strategy.

Understanding the fund lifecycle helps you appreciate the long-term nature of private equity investments, contrasting sharply with the potentially rapid trading in public markets. It’s a marathon, not a sprint, with distinct phases of capital deployment and return.

Operational Value Creation: More Than Just Capital

In private equity, simply providing capital is rarely enough to generate significant returns. The goal is to create value within the portfolio companies. For a lead sponsor, this might involve strategic acquisitions, improving operational efficiency, expanding into new markets, or strengthening the management team.

For a firm like Cohesive Capital Partners, which primarily co-invests and relies on the lead sponsor to drive day-to-day value creation, their contribution goes beyond just the financial investment. While they don’t control the operational levers, they can still contribute significantly:

• Strategic Insight: Through their experienced team and Executive Council, Cohesive can offer valuable strategic perspectives during investor/board meetings. Their broad exposure to different deals and sponsors provides a unique vantage point.

• Network Access: Cohesive can leverage its network to help portfolio companies or lead sponsors, whether by introducing potential customers, partners, or future management talent.

• Evaluating and Supporting Sponsor Strategy: Cohesive’s independent diligence and ongoing monitoring help ensure the lead sponsor’s value creation plan is sound and being executed effectively. They act as informed partners, providing accountability.

• Bringing Operational Expertise (via Executive Council): As mentioned, the Executive Council’s deep operating experience is a key asset. While not involved in daily management, council members can provide high-level guidance on specific operational challenges, industry trends, or best practices, adding another layer of expertise to the investment.

This operational engagement, even from a minority co-investor position, is part of the “private” in private equity – the active effort to improve company performance, not just passively hold a stake. It requires the ability to collaborate effectively with the lead sponsor and contribute constructively to the company’s growth trajectory.

Think of it as being a key, knowledgeable investor on a company’s board, not running the company yourself, but providing crucial input and oversight to help the managing partners succeed.

Comparing Investment Paths: From Private Equity to Public Markets

We’ve explored the complex world of private equity and Cohesive Capital Partners’ specific approach to direct co-investing. This is a domain requiring significant capital, long-term commitment, and a high tolerance for illiquidity and complexity. It’s typically the realm of institutional investors and high-net-worth individuals.

However, understanding this world helps contextualize the broader universe of investment opportunities available to *you*, the individual investor or technical analysis trader. Private equity is just one path; others include:

• Public Equities (Stocks): Investing in companies listed on stock exchanges. Highly liquid, accessible, and where technical analysis tools are most commonly applied.

• Fixed Income (Bonds): Lending money to governments or corporations.

• Real Estate: Direct ownership or via Real Estate Investment Trusts (REITs).

• Commodities: Trading raw materials like oil, gold, or agricultural products.

• Derivatives (Options, Futures): Complex financial contracts whose value is derived from an underlying asset.

• Leveraged Products (CFDs, Forex): Trading instruments that allow you to control a large position with a smaller amount of capital, amplifying potential gains and losses. Forex (Foreign Exchange) trading involves speculating on currency price movements.

Each of these paths has its own characteristics, risk profiles, and requires different skills and knowledge. While private equity focuses on long-term value creation in illiquid private companies, public market trading, especially using technical analysis or leveraged products like CFDs on forex, often focuses on shorter-term price movements and market liquidity.

If you are interested in exploring more accessible markets or diversified strategies beyond traditional stocks, perhaps considering leveraged products, understanding your platform options is essential. Different platforms offer access to different markets, tools, and levels of support.

If you’re considering starting Forex trading or exploring more CFD products, Moneta Markets is a platform worth considering. It is based in Australia and offers over 1000 financial instruments, suitable for both beginners and professional traders.

Choosing the right path depends entirely on your capital available, investment goals, risk tolerance, and the amount of time and expertise you are willing to dedicate. Understanding the complexity and illiquidity of PE helps highlight why more accessible markets exist and why platform choice matters there.

Just as sophisticated firms like Cohesive Capital Partners choose specific strategies and partners in private markets, you, as an individual investor, must choose the markets and platforms that best fit your own investment approach.

The Future of Cohesive Capital Partners

With Fund IV currently in market and a successful track record demonstrated through past funds (Fund I, Fund II, Fund III) and exits, Cohesive Capital Partners is clearly focused on continuing its trajectory as a leading direct co-investor. Their strategy of partnering exclusively with high-quality private equity sponsors provides a consistent source of potential deal flow and leverages the expertise of established players in the PE landscape.

The demand for co-investment opportunities remains strong among Limited Partners seeking to deploy capital directly alongside proven managers and potentially achieve better fee terms than investing solely through traditional funds. Cohesive Capital Partners is well-positioned to meet this demand, offering LPs access to a diversified portfolio of direct equity stakes across various industries.

Key factors that will likely drive their future success include their continued ability to:

• Identify and build relationships with top-tier private equity sponsors.

• Rigorously evaluate co-investment opportunities through independent due diligence.

• Leverage the operational expertise of their Executive Council to support portfolio companies and sponsors.

• Navigate evolving market conditions and sector-specific dynamics.

• Generate successful exits from their portfolio companies, delivering strong returns to their Fund IV LPs over the coming years.

Their recent participation in transactions like the MedNet Solutions recapitalization and the investment in Parella Motorsports Holdings via Fund IV signal their ongoing activity and commitment to deploying capital strategically. Their focus remains on being a trusted and valuable partner in the complex world of private equity co-investments.

Their model demonstrates that even within the high-stakes world of private equity, strategic partnerships and specialized approaches can create significant opportunities for growth and value creation.

Conclusion: Strategic Partnerships and Focused Expertise in Private Equity

We’ve journeyed through the landscape of private equity and explored the distinctive model of Cohesive Capital Partners. Their focus on direct co-investments alongside high-quality private equity sponsors is a powerful strategy that allows them to access attractive deals, leverage partner expertise, and build a diversified portfolio of direct equity stakes in private companies.

From understanding the nuances of a recapitalization like the one involving MedNet Solutions with Arrowroot Capital, to appreciating the importance of their experienced team and Executive Council’s operating experience, we’ve seen how Cohesive Capital Partners executes its strategy. Their management of various funds, including the currently fundraising Fund IV, underscores their ongoing capacity and intent in the market.

While the world of private equity may differ significantly from the public markets where individual investors often trade using technical analysis, the core principles of thorough analysis, strategic decision-making, and seeking value creation remain universal. Understanding specialized areas like direct co-investing provides valuable perspective on the diverse ways capital is deployed to grow businesses.

Cohesive Capital Partners exemplifies a focused, partnership-driven approach to private equity. By selecting their partners and co-investments carefully, they aim to achieve success for their investors, reinforcing their position as a knowledgeable and credible player in the private capital markets. Their story is one of strategic alignment, rigorous diligence, and leveraging expertise – lessons applicable in many areas of the financial world.

Whether you are a seasoned investor or just beginning to explore the possibilities, gaining insight into models like direct co-investing broadens your understanding of the financial ecosystem and the many paths to capital growth that exist beyond the most commonly discussed markets. Keep learning, keep exploring, and refine your own investment approach, no matter which market you choose to navigate.

Investment Type	Description	Liquidity
Private Equity	Equity capital not listed on public exchanges	Illiquid
Public Equities	Stocks traded on exchanges like NYSE	Highly liquid
Fixed Income	Bonds issued by governments or corporations	Varies

Co-Investment Benefits	Description
Access to High-Quality Deals	Curated, well-vetted opportunities through partnerships
Leveraging Sponsor Expertise	Partner knowledge on operational and strategic aspects
Diversification	Spreading investments across industries and deals

Key Team Members	Role
John Barber	Managing Partner with extensive direct deal experience
Adam Freeman	Partner with expertise in finance and operations
Gregory Angrist	Partner specializing in strategy

cohesive capitalFAQ

Q：What is direct co-investing?

A：It’s a strategy where investors like Cohesive Capital invest directly alongside a lead private equity firm in a deal.

Q：What are the risks associated with private equity?

A：Private equity involves higher risks due to illiquidity and the need for deep expertise to assess opportunities.

Q：How does Cohesive Capital select its investment opportunities?

A：They perform thorough due diligence on the lead sponsors and the target companies to ensure alignment with their investment criteria.