Management fees on private equity buyout funds have fallen to their lowest levels since records began in 2005 as fund managers fight to attract investors in a tough fundraising environment.
According to industry specialist Preqin, the average management fee for buyout funds that closed this year or were still raising money in June was 1.74 per cent of investors’ committed capital. The previous low was 1.85 per cent in 2023.
In the past two years, private equity firms have struggled to sell out of their investments. The usual exit routes of stock market IPOs and industry dealmaking have been limited by higher interest rates, disagreements about valuations and general economic uncertainty.
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