Aint: update 1..
Fresh in from naked capital we hear PE (private equity) firms are aligning to outlaw bigtime bonus and outsized compensation packages..
Imagine how they feel this way: 2 percent (fees) of a $5bn* fund is $100mn. To get it the outsized overpriced and overpaid simply turn up for work. There’s more.. for them of course tho that’s not what we are on about here.
Seems the wsj has pitched a leg spinner which is not – repeat not – fooling anyone. In the buyout trade. PE execs want fee caps, greater disclosure, investor oversight. This is largely, and at large, the Institutional Limited Partners Association. With a sizeable PE flexing Boies Schiller(anti-trust litigators) at the issue..
Watch this space..
*Began when $1bn was big decades ago.