Glossary · Fund economics
Management fee
An annual fee charged on commitments or NAV. Typically 1.5–2% in real-asset funds.
Why it matters
It pays the team and decides how much the GP can scale before performance does.
Related
- Carried interest (carry)
The GP's share of profits above a hurdle. Typically around 20%.
- Hurdle / preferred return
The minimum LP return — often around 8% — that must be paid before the GP earns carry.
- GP (General Partner)
The manager running the fund and its strategy. Earns the management fee and carry.
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