slides: The Highest Paid Investment Firms in RI Pension System

Thursday, June 25, 2015

 

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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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