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The latest from Sekond and the alternatives industry.
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Other Fees & The Overlooked Layers
Management and performance fees get the attention, but administrative costs, leverage expenses, layered fund-of-fund charges, and subscription and redemption fees can add up quietly — and in a perpetual structure, that drag compounds indefinitely.
Performance Fees and Incentives Tied to Returns
Performance fees in evergreen funds go well beyond a simple profit share — the absence of a fixed end date complicates every mechanism underneath, from waterfall structures and hurdle rates to whether managers are getting paid on gains that haven't actually been realized yet.
Management Fees and Keeping the Lights On
A closer look at management fees in evergreen funds — how gross versus net asset calculations, leverage, and rate structures turn a simple percentage into a more complex cost driver than it first appears.
Evergreen Funds 101: A Flexible Structure
Antiquity's Scott Siemens and Michael Aronstein cut through a common misconception: evergreen funds aren't a retail product or a strategy, but an open-ended structural shell that prioritizes business performance over predetermined exit schedules.
The DOL's 401(k) Proposal and the Case for Better Disclosure
InvestmentNews covered the proposal this week, including remarks from Sekond CEO Rasmus Goksor:
Understanding Fees: Beyond the Headlines and into the Footnotes
A practical checklist for cutting through fee complexity in evergreen funds, covering everything from management fee basis and hurdle rates to clawbacks, leverage costs, and the compounding drag of expenses in perpetual structures.
Sekond Announces Ratings for Democratized Alternative Investing
Launch of “Sekond Ratings” by Private Market Tech Veterans Accelerates Liquidity, Provides Penetrating Insights for Wealth Advisors and Investors