kaal:claim:2959730-014

Pressure on the incentive fee side operates through blackened carried interest, under which a manager cannot collect carry until all limited partners have had their capital returned within the lifetime of the private equity model.

Source quote, verbatim

Some industry observers are now talking about a movement towards blackened carried interest, meaning a private investment fund manager cannot collect carry until all limited partner investors have had their capital returned within the lifetime of the private equity model.

From

Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017), III. Factors Creating Downward Pressure on Fees, p. 8
https://ssrn.com/abstract=2959730 · source PDF

Cite as

Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730

Holds when

private equity funds and, similarly, hedge funds
carry measured over the lifetime of the fund model

Classification

mechanismsupport: assertedrisk-and-incentivesprivate-funds

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