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That's the argument funds use to justify their fee structure to their LPs. In most cases, the LPs do worse than anticipated specifically b/c of the '2 and 20'
by dpapathanasiou 17y ago
That's the argument funds use to justify their fee structure to their LPs.
In most cases, the LPs do worse than anticipated specifically b/c of the '2 and 20' fees.
As Harry Kat said in the New Yorker article:
"They are charging more than they are adding. I'm not saying they don't have skill; I’m just saying they don't have enough skill to make up for two and twenty."