New Capability: Management Fees and Incentives Capture


Our December 22, 2018 platform release added the capability to capture management fees and incentives in an organized way, and has the advantage of automating that capture. The standard reporting template devised by the ILPA is designed to help harmonize reporting of supplemental disclosure of information from GPs to LPs. The template is sprawling in its ambition, and so it is rare that GPs supply the level of detail it suggests. Our efforts here focus on capturing the impact of management fees and incentives only on the LP’s investment in the fund.

The Management Fee categories are:

  • Management Fees – Gross of Offsets, Waivers and Rebates

  • Management Fee Rebate

  • Partnership Expenses – Total

  • Total Offsets to Fees & Expenses (applied during the period)

  • Total Management Fees & Partnership Expenses, Net of Offsets & Rebates, Gross of Fee Waiver

The Incentive Fee categories are: 

  • Accrued Incentive Allocation – Starting Period Balance

  • Incentive Allocation – Paid during the Period

  • Accrued Incentive Allocation – Period Change

  • Accrued Incentive Allocation – Ending Period Balance

These values are asked to be supplied by the GP for three periods: Quarter-to-Date, Year-to-Date, and Inception-to-Date. If the template you receive conforms to the ILPA standard, the platform now allows you to import these values and import the source worksheet into the document repository in one easy step.

Of course, this capability is independent of the availability of templates — use it as designed to keep better tabs on the activity of the fund and the fees and incentives it accrues.


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james kocis