PDI Picks – 11/5/2018

First-closing fee discounts can set GPs apart


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A surprising number of private markets managers don’t offer a break to their funds’ earliest investors.

Private fund managers seem reticent to offer early-bird management fee discounts, according to two new surveys, closing a potential avenue to differentiate themselves as fundraising slows down.

Private Debt Investor sister publication pfm found in a fees-and-expenses survey that 33 percent of respondents offered discounts to limited partners participating in first closes.