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 "text": "Private fund management fees have compressed materially: the historical two percent of commitments has shifted in recent years to roughly 1.0 percent for new managers and 1.5 to 1.8 percent for established managers with an adequate track record.",
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  "name": "Wulf A. Kaal",
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 "citation": "Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033",
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 "abstract": "However, the historical fee of 2% of commitments through the reinvestment period, then 2% on the cost basis for the investments/value of fund has shifted in recent years closer to 1.0% for new managers and 1.5-1.8% for established managers with an adequate track record.",
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