Anchorage Co-Investment Fund IX, L.P.

The absence of prior EDGAR filings from this manager despite operating an established co-investment series means either the previous eight vintages were structured under different legal entities, raised entirely through exempt offerings without SEC disclosure, or operated at a scale below filing thresholds; the 06b exemption and named-individual GP structure (three individuals listed alongside two entities) indicates this manager operates on pre-existing LP relationships and likely manages capital through a private placement model rather than a formalized fund family with public-facing marketing.

A May 2026 filing for a $65M co-investment fund reflects LP demand to participate in selective deals outside of mega-fund commitments, a posture that gains traction when large-cap buyout funds are deploying capital quickly and co-investors need dry powder for follow-on rounds or preferred deal access; this timing also aligns with vintage IX funds typically closing in late 2026 or early 2027, giving the manager a full fundraising window before year-end market softness.

Before committing, LPs should confirm the identity and compensation structure of the Opportunities Advisor entity and verify whether it has been used in prior vintages with consistent terms; additionally, clarify whether key-person provisions protect against departure of any of the three named individuals (Baron, Dunleavy, Gournay) and request evidence of how previous co-investment vehicles achieved their distributions, since the absence of EDGAR filings means performance claims and fee histories are not publicly verifiable.