Cheap LPs

I work at a secondaries fund in NY. There is one wealth management firm up in Canada that feeds their client money into several "funds" that they manage. This group used to act as a FoF where they would charge their clients very low fees but no carry. They've since started no longer making primary commitments and are trying to generate direct deal flow themselves.

This group has reached out to me a few times to see if they can "co-invest" so I told them that co-invest is first reserved for our LPs and asked if they are interested in making a commitment. They said "no, we do stuff in house" so I told them no prob and if I have a deal where there is overflow I'll give them a call but they'd need to pay fees. This douche literally said to me "we don't pay fees". K so you don't want to make a primary commitment and you also don't pay fees so you just expect to be given deal flow for free?!? This guy must live on Mars.

I found out through another contact that the reason this group is pushing direct investment now is cause they can't charge their LPs any carry on primary commitments but they can charge a whopping 20% in carry if they "generate" secondary deal flow themselves. Part of me wants to out this group cause they are so f'ing annoying and have the most watered down sh*t product for HNW and retail investors.

Have you guys experienced other ridiculously cheap LP groups?