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fees and expenses
The holy trinity of terms: management fees
Long-time limited partner turned consultant Ray Maxwell says private equity should benefit from either significant carried interest or high fees – but not both.
The holy trinity of terms: carried interest
Long-time limited partner turned consultant Ray Maxwell reflects on the three key economic terms at the heart of the relationship between manager and investor, starting with carry.
The seven problems with carried interest allocation
Simon Havers of executive search firm Odgers Berndtson details why carried interest allocation is not smooth sailing.
Three approaches to calculate waterfall in private equity systems
Consultant Gert-Tom Draisma lays out the options in the extract from The Definitive Guide to Carried Interest.
The problem with accelerated monitoring fees
The issue is less about what you charge, and more about who you tell.
Keep records of expenses for SEC scrutiny
An industry executive says the regulator wants to ensure that expenses aren’t excessive and investors aren’t billed inappropriately.
‘Key man’ departure hits CLSA property fund series
Chief executive John Pattar's move to KKR has made CLSA halt the investing activities of its latest Fudo Capital fund and step down fees accordingly.
Rethinking carried interest
In light of tax reform introduced in the US, some private equity and venture capital firms are revisiting their LPAs to change the way carry is paid out, says EisnerAmper’s David Helprin.
SEC can fend off a compliance fiasco
GPs could submit to regulations from many states or, if ILPA has its way, comply with a national standard on transparency of fees and expenses.
Get someone to go over the waterfall
Tim Eberle, vice-president at fund services business Citco, makes the case for third-party verification of waterfall calculations.
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