- Success Fee Hurdle – Essentially, we expect to be remunerated for success. We therefore believe it clearly demonstrates our alignment with our clients’ objectives that our service fees will be offset against success fees.
- Expenses – Our service fee covers ongoing expenses, but significant expenses may be recharged subject to prior approval.
For certain clients, a service and success fee structure may not be appropriate, usually because the relationship will be a relatively short term one coinciding with the raise of a single fund. In such cases, we will typically expect a significantly higher level of success fee.
We believe our fees are highly competitive given the strength of our proposition. Our clients aren’t just paying for our time but for our experience and relationships. But whatever the structure we agree, it is important to the institutional investors we talk to that our remuneration demonstrably does not impact the fees they pay.