For a friend we recently evaluated their private equity statement. To not be specific but avoid being vague, hint hint it was a major PE shop in Washington DC. Anyways, this statement had our jaws dropped!!!!!

Client commitment: 3.5 million EUR
Contributions to date: 1.0 million EUR
Fees / expenses to date: 270,000 EUR

You forgot the punchline: this is after only year 2 of the investment and oh yeah, the “investments” are down 30% …. way to earn your management fee guys!!!!

Tags: Private Equity

This entry was posted on Tuesday, March 23rd, 2010 at 5:43 pm and is filed under Illiquid Assets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.