Some rolling funds actually have 0% management fees (only carry), so it's really up to the fund manager. It also looks like the admin fee is 0.15% per year for

Some rolling funds actually have 0% management fees (only carry), so it's really up to the fund manager. It also looks like the admin fee is 0.15% per year for a ten-year term to access the platform. There's no additional carry if you bring your own LPs, and 5% carry for LPs that come through the fund platform.