Secondary Private Equity Funds Compensation
What is the compensation for secondary private equity funds like HarbourVest, Coller Capital, GS PEG, AXA, Lexington Partners, ect for analysts and associates. Also, where do fund managers top out? Some of these places get pretty high returns so I wanted to know if they are making 2 and 20 like other funds.
If you don't know what I'm talking about, see here: http://en.wikipedia.org/wiki/Private_equity_secon…
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any help?
I don't know about analyst / associate compensation, but on fund fees, they are generally 1 and 10 (as they are layering on a fee to their investors on top of the fund fees or in the worst case, they are putting a fee ontop of a fund of funds fee which is ontop of the PE fund fees). In certain cases they do charge 2 and 20 or a hybrid (1 / 1.5 and 15 / 20) in particular for funds that are geared towards direct co-investments, spin out situations, etc. Also the general return thresholds are usually lower than direct PE so fee structure matches this.
Given the overall lower fee structure, compensation is likely lower than being at a PE fund, but in the upper echelons these guys still make a boatload of cash. Offset of course is quality of life is better. In any case, its an interesting sector to be involved with now given the explosive growth and few market participants.
hope this is helpful
Coller pays around 85K GBP and 120-150K GBP all-in for Senior Associates in London.
You also tend to get carry at the Senior Associate level of 2%
So if I understand your post correctly, its 120-150 for Senior Associates - what is the 85k figure in reference to?
I guess he meant base pay of 85k and 35k to 65k in bonus.
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