Exodus Point Adopts Cash Hurdle
Is this the beginning of the end for tier 2 multistrats? Anyone know more details about this? How exactly would they link performance fees to t-bill yields while still charging pass-through fees? Do they just tell PMs that you need to have made more than X% this year on "risk capital" or you don't get paid, including for this year?
Wonder if Baly and some of the smaller platforms will be next.
ExodusPoint, the $11bn multi-strategy hedge fund led by former Millennium executive Michael Gelband, has responded to investor pressure by introducing a new fee structure, tying performance fees to short-term Treasury yields, according to a report by Business Insider.
The firm’s new share class will still charge management and pass-through fees, but will link performance fees to Treasury yields and implement a longer lock-up period, making the fees retroactive to the start of 2024.
On other notes, MLP raising money and P72 returning cash. 2025 will be interesting.
Quis quo voluptatem error voluptatem est nobis dolores et. Tenetur alias ea quod officia iste sunt. Ut enim molestias eveniet ut dolor. Quis consectetur voluptate ea voluptatibus vero repellendus hic.
Et facilis aliquam ut voluptatem. Est laboriosam accusantium et ad. Beatae tenetur itaque repellendus enim. Dolor ea debitis numquam aut laborum consequatur.
In aliquid quia ab. Et voluptas debitis impedit neque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...