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Private equity management fees, the percentage these fancy financiers charge merely to hold onto the riches' money, reached $33 billion in 2007, up 83 percent from $18 billion in 2003. Venture funds charged investors $6.8 billion during the year. These fees do not, of course, include the fund managers' share of profits. They're just a nice slice of a very large compensatory pie. London-based Private Equity Intelligence says the fees leave investors irked — 80 percent of them have turned down deals due to high fees, they say. But it doesn't take a Stanford MBA to tell you 83 percent growth indicates there's more demand than supply for what these people sell.
Private equity fees up 83 percent since 2003
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1:20 PM on Mon May 5 2008
By Nicholas Carlson
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Sounds to me like we need some legislation up in here. Or does that not apply in California?
and then the Chief J just WENT OFF. said these private equity firms are guilty as shit and sentenced them to one night of rehabilitation.
"The rapid growth of private equity assets under management has pushed fees higher."
The writer does not cite the value of assets under management in 2003 vs the value of assets under management today, so there's not much context here...
But, yeah, you do make your asset management fees simply rolling out of bed in the morning.
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