‘It’s kind of take it or leave it’

LP fees: “Take it or leave it” is how the head of alternatives at one European pension fund described offered terms on new private equity funds. For younger asset classes, like real asset and debt funds, investors can have an easier time negotiating terms on new funds, the person said.

In this piece, from our September cover series, “Working capital: The changing mix”, Carmela Mendoza looks at whether the balance of power could between PE managers and investors could change, should the fundraising environment grow murkier.

Email prepared by Graham Bippart