WSJreported on private equity fees, traditionally 2% of assets under management and 20% of profits. Carlyle Group cofounder David Rubenstein said "a market in fees was likely to emerge as the returns from recent funds become clear:" Is he hedging on Carlyle's historical 30% annual returns for investors? He offered that number in April.
Rubenstein recently sold lower fees, but not less than the 20% carry. Watch what emerges from private equity underwriters (PEU's).
PEU Report/State of the Division