Capital raise · Education & Training

Independent Sponsor Co-Investment Rights in Education & Training

Independent sponsor counsel for education and training, focused on Co-Investment Rights and the deal mechanics that protect sponsor economics and LP alignment.

EV range $8M to $90M EV EBITDA $2M to $15M Audience Independent Sponsor
The deal context

Every education and training acquisition has its own gravity. Co-Investment Rights is the workstream where independent sponsor counsel earns the seat.

The typical education and training platform sits at $8M to $90M EV with EBITDA in the $2M to $15M range. The thesis runs on private school, training academy, or B2B training platform consolidation. Accreditation continuity is the only thing that matters in the first 30 days post-close.

The moves

How Co-Investment Rights actually gets structured.

  1. Define co-invest rights pro-rata to the LP's deal commitment.

  2. Build a 30-day decision window so the deal does not stall.

  3. Limit co-invest fees and carry, if any, to reflect the relationship value.

  4. Document the right in the LPA, not in a side letter.

  5. In education and training, layer in accreditor pre-notification calendar set as part of the Co-Investment Rights workstream.

The common mistake

Granting unlimited co-invest. The next LP finds out and your firm economics suffer.

Jason's take
"Co-investment is a privilege you give to the LPs you want to keep. Define it accordingly."
Jason Powell · Co-Investment Rights
Capital after close

The deal is one thing. The capital that opens up after close is another.

Most independent sponsors solve the closing capital and then run into the post-close capital problem alone. The capital markets relationships that matter at month 18 are part of this practice.

MONTH 18
Senior refi
MONTH 24
Dividend recap
MONTH 36
Growth equity
YEAR 4–5
Strategic exit
WORK WITH JASON

Bring the education and training deal. Get Co-Investment Rights done right.

Direct counsel from a securities and M&A attorney with billions in structured transactions, the independent-sponsor-native playbook, and the capital markets network that opens up post-close.