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two and 20

5 statements across 5 episodes · 0 bullish · 4 bearish · 5 people on the record · first statement Aug 7, 2017 by Kip McDaniel · across every show →

Everything said about two and 20, oldest first

Aug 7, 2017 bearish
Prediction Held up
Average private fund fees have dropped to 1.5 and 18
“Now, I think that's going the way of the dodo. You know, it's, what is it, 1.5 and 18 now, but nothing says it's going to rebound to where it was. In average.”
Kip McDaniel Aug 7, 2017 ▶ 41:39 Kip McDaniel – CIO Whisperer (Capital Allocators, EP.20)
Feb 11, 2019 negative
Assertion Not checkable as stated
Large Pension Plans Have Broken the Traditional 2-and-20 Fee Model
“I have said for probably over five years that two and 20 is gone, and that's been broken. Unfortunately, small plans still have to pay that, but larger plans have gone through that.”
Chris Ailman Feb 11, 2019 ▶ 41:20 Chris Ailman – CalSTRS' Venerable CIO (Capital Allocators, EP.86)
Feb 18, 2019 bearish
Opinion
Moodgal: Traditional Annual 2 and 20 Fund Fee Models Are Over
“So the old two and 20 Charging every year, forget it. That game's over.”
Rahul Moodgal Feb 18, 2019 ▶ 38:14 Rahul Moodgal - Master Fund Raiser (Capital Allocators, EP.87)
Sep 28, 2020 neutral
Assertion Supported
Ellis: The 2-and-20 model is no longer the modal hedge fund fee
“We talk about two and 20, but two and 20 is not the average fee in the industry by a long way, and it's certainly not the modal fee either. Two and 20 is now the unusual.”
Luke Ellis Sep 28, 2020 ▶ 47:18 Luke Ellis and Mario Therrien – Best Practices in Alternatives (Capital Allocators, EP.158)
Jan 9, 2023 negative
Opinion
Investors who made wealth on 2-and-20 refusing standard fees is insane
“The number of people who made their money as investors with a two and 20 model who then start their own family office business and decide not to pay two and 20 is sort of insane to me.”
Gregg Lemkau Jan 9, 2023 ▶ 30:38 Gregg Lemkau - The Evolution of MSD (Capital Allocators, EP.291)
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