Deep Dive into Hedge Funds (Capital Allocators, EP.34)
Capital Allocators – Inside the Institutional Investment Industry
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The Innovation in Fee Structures for Hedge Funds
I've seen 0% management fees with higher incentive fees, maybe managed over a longer term cycle. The problem with those kind of arguably innovative structures like that where there's a cleaner alignment of long term incentives is you've got to run the business and you need to attract talent. And I don't know that that changes. So it's a difficult question because you didn't know the founder doesn't have to get rich, but in fact, they have to pay their people so much that it looks like the people that are working there get rich.
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