FW Capital has an active program in which we invest directly in companies, typically alongside other private equity fund managers (i.e., co-investments) with whom we have made fund investments. We leverage this capability in our investing programs, including our funds of funds and customized programs. FW Capital also offers dedicated co-investment funds on a customized, as well as a co-mingled basis.
FW Capital manages a portfolio of direct co-investments as an integral part of our funds of funds investment strategy. Our direct co-investments are primarily made alongside other private equity fund managers who act as lead investors. FW Capital also offers direct co-investment funds on a customized and a co-mingled basis.
This fund was established on behalf of a university endowment client to invest in a diversified portfolio of direct co-investments in the state of Kentucky, the Midwest, and nationally.
This fund was established on behalf of the New Mexico State Investment Council to invest in a diversified portfolio of direct co-investments in the state of New Mexico.
FW Capital proactively identifies direct co-investments in promising private companies and leverages its extensive relationships with industry specialist managers to access these opportunities. FW Capital typically invests $250,000 to $2 million in preferred equity securities alongside proven private equity co-investors.
As a part of our due diligence, we leverage our relationships with private equity managers, our internal teams of public and private equity investment professionals, and managers of our more than 1,000 private companies in our funds. We seek to build a diversified portfolio across sector, stage, style, time and geography, depending on the strategy of our underlying fund vehicle.
In evaluating direct co-investment opportunities, FW Capital weighs heavily its relationship with, and the quality of, the co-investor. Our investment professionals then review all aspects of a company's industry, management, competition, technology and market position. We identify a potential sustainable competitive advantage a company has developed or is in the process of developing. Such an advantage may be based on unique technologies or products or even the composition of the management team. We seek companies that have the potential to lead their market segments, exhibit successful management and financial track records, and demonstrate the ability to flawlessly execute their business plans. In addition, we give preference to companies that will provide multiple opportunities for exit, including trade sales and public stock offerings.