Hedge Fund Fees and Liquidity - Setting it Straight
The current fallout associated with DB Zwirn is causing a renewed focus on both mark-to-market practices and, by association, pay-for-performance practices. The way it’s being depicted in the media it’s almost as if someone woke up and realized, "Hey, if hedge funds have illiquid investments kind of like private equity firms, then shouldn’t they get paid like private equity firms (e.g., upon realization)?"
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