Monday, 2 March 2015
Last updated 1 hour ago
Feb 28 2014 | 10:16am ET
D.E. Shaw Group will reduce the management fee it charges on side pockets it set up seven years ago.
The New York-based firm will begin charging 1.75% on the illiquid portfolios in July, The Wall Street Journal reports. It is the second such fee cut in three years; in 2011, D.E. Shaw cut its management fee on all hedge funds to 2.5% from 3%.
It is unclear how much of D.E. Shaw’s $32 billion are held in side pockets.
Investors approved the separation of the private-equity-style investments in 2006. Among the assets in the portfolios are wind-energy, wireless-network and specialty-metal companies.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…