slides: The Highest Paid Investment Firms in RI Pension System
Thursday, June 25, 2015
GoLocalProv News Team
See which investment firms are paid the highest management fees by the state pension fund.
Related Slideshow: RI Pension System’s Highest Paid Investment Firms
Below are the highest paid investment firms by the state pension system. Two types are listed: hedge funds and private equity firms. Firms are listed in order of least to highest rate of pay. Firms at the same rate of pay are ordered according to the amount of the payment they received, from least to greatest. For each firm, the name, type, management and performance fee rates, and the amounts paid for each are shown, along with the total. In instances where a firm had more than one fund, information is provided for each individual fund. Data are from a newly published online report of investment expenses for the state pension system. Note that the Treasurer’s office has declined to disclose information for 18 private equity firms due to confidentiality clauses.
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20
MHR Institutional Partners III
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 1.75%
Performance Fee Rate: 20%
Management Fees: $243,171
Performance Fees: None
Total Investment Expense: $243,171
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19
Oaktree European Principal Fund
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 1.75%
Performance Fee Rate: 20%
Management Fees: $300,687
Performance Fees: None
Total Investment Expense: $300,687
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18
W Capital Partners
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees:$65,790
Performance Fees: None
Total Investment Expense: $65,790
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17
Nautic Partners IV
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $84,442
Performance Fees: None
Total Investment Expense: $84,442
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16
W Capital Partners II
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $107,549
Performance Fees: None
Total Investment Expense: $107,549
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15
Kayne Anderson Energy Fund IV
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $108,970
Performance Fees: None
Total Investment Expense: $108,970
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14
Thomas, McNerney & Partners
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $143,862
Performance Fees: None
Total Investment Expense: $143,862
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13
Paladin III
Firm Type: Private Equity
Pension Assets Invested: $10,000,000
Management Fee Rate: 2.00%
Perfomance Fee Rate: 20%
Management Fees: $150,000
Performance Fees: None
Total Investment Expense: $150,000
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12
Lighthouse Capital Partners VI
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $210,600
Performance Fees: None
Total Investment Expense: $210,600
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11
Thomas, McNerney & Partners II
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $169,053
Performance Fees: $96,512
Total Investment Expense: $265,565
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10
Bain Capital Fund X
Firm Type: Private Equity
Pension Assets Invested: $25,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 30%
Management Fees: $361,635
Performance Fees: None
Total Investment Expense: $361,635
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9
BlueCrest Capital LP
Firm Type: Hedge Fund
Pension Assets Invested: $20,981,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $419,000
Performance Fees: $0
Total Investment Expense: $419,000
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8
Riverside Capital Appreciation Fund VI
Firm Type: Private Equity
Pension Assets Invested: $25,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $489,102
Performance Fees: None
Total Investment Expense: $489,102
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7
Brevan Howard LP
Firm Type: Hedge Fund
Pension Assets Invested: $77,047,000
Management Fee Rate: 2.00%
Performance Fee Rate: 25%
Management Fees: $1,588,000
Performance Fees: $0
Total Investment Expense: $1,588,000
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6
Capula Global Relative Value Fund
Firm Type: Hedge Fund
Pension Assets Invested: $55,791,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,097,000
Performance Fees: $1,027,000
Total Investment Expense: $2,124,000
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5
Third Point Qualified LP
Firm Type: Hedge Fund
Pension Assets Invested: $0 *
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,029,000
Performance Fees: $2,423,000
Total Investment Expense: $3,452,000
NOTE: Figures are end of year figures. The zero here means that money was invested earlier in the year but then withdrawn.
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4
OZ Domestic Fund II LP
Firm Type: Hedge Fun
Pension Assets Invested: $98,918,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,907,000
Performance Fees: $2,142,000
Total Investment Expense: $4,049,000
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3
Point Judith Venture Fund II
Firm Type: Private Equity
Pension Assets Invested: $5,000,000
Management Fee Rate: 2.50%
Performance Fee Rate: 20%
Management Fees: $71,496
Performance Fees: None
Total Investment Expense: $71,496
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2
Focus Ventures III
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.50%
Performance Fee Rate: 20%
Management Fees: $263,633
Performance Fees: None
Total Investment Expense: $263,633
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1
DE Shaw Composite International Fund
Firm Type: Hedge
Pension Assets Invested: $73,443,000
Management Fee Rate: 2.50
Performance Fee Rate: 25%
Management Fees: $1,725,000
Performance Fees: $2,965,000
Total Investment Expense: $4,690,000
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