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Why GPIF’s Hiro wants better alignment, not lower fees

Hiromichi Mizuno was tasked with guiding the world's largest pension fund into alternatives. He tells PEI what he learned in his four-year tenure.

ILPA offers a ‘FAIR’ deal to its LP members

The industry group has teamed up with consultant Colmore, whose Fee Allocation Incentive Reporting programme aims to help investors ensure they are not overpaying for alternatives.

LPs could push harder in negotiating with GPs – report

Private equity investors focus only on very simple negotiating points such as fees and structure, according to a survey by eFront.

The carried interest model could be improved. Here’s why it won’t be

Making LPAs more akin to contracts between fund managers and their portfolio company execs would lead to better GP-LP alignment.

Management fees remain a sticking point

Fees remain a bone of contention for limited partners as fund sizes continue to grow.

LPs demand more granularity in fees and expenses

Investors are forcing funds to take disclosure to a whole new level of detail, with broken deal expenses one of the most contentious areas.

Texas Municipal fights to claw back terms from GPs

In a heady fundraising environment, GPs are pushing fund terms in their favor, and it’s up to LPs to walk them back, Texas Municipal Retirement System’s director of private equity Christopher Schelling says.

Why the hurdle rate needs a revamp

For all the debate it provokes, the conventional hurdle rate has remained stubbornly untouched since the ’80s.

IFM gives 7.5% fee rebate to clients and challenges rivals to follow suit

Institutional clients will receive ‘tens of millions’ of dollars as the majority of the fund manager’s investments meet or outperform objectives.

LISTEN: Where are hurdle rates trending?

With managers increasingly putting pressure on LPs to enter the carry early, Threadmark partner Patricia Wilkinson and PEI senior editors Bruno Alves, Jonathan Brasse and Toby Mitchenall look across asset classes to find out whether the status quo really is changing.

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